General Motors, Ford Motor and Chrysler might establish an independent health insurance fund to reduce their combined $114 billion in future retiree health care obligations, according to five individuals familiar with the discussions, Bloomberg/Detroit News reports. The companies would contribute to the fund to cover the cost of health benefits for United Auto Workers retirees. The five individuals said that the discussions are preliminary and that the size of the fund and the amount each company would contribute remain undetermined. According to GM CEO Rick Wagoner, the companies had a combined $12 billion in health care costs in 2006 (Bloomberg/Detroit News, 6/9).

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