Submitted by S. Patterson on Wed, 06/26/2024 - 2:16pm
Steward Health Care filed for Chapter 11 bankruptcy due to a combination of significant financial challenges, which included mounting debt, declining revenues, and the financial strain from the COVID-19 pandemic.
Members of Congress, led by Sen. Edward Markey of Massachusetts, is seeking reassurances that workers at hospitals owned by Steward Health Care will have their health care and retirement benefits protected.
In a letter to acting Labor Secretary Julie Su on Monday, Markey said Steward’s bankruptcy “poses concerns for the nearly 30,000 workers including nearly 10,000 in Massachusetts, who rely on Steward Health Care for their paychecks, health care plans, and retirement benefits.”
“We write to ask that the U.S. Department of Labor ensure that Steward workers and retirees receive the health care and retirement benefits to which they are entitled. Workers and retirees must be protected from further harm resulting from Steward’s gross financial mismanagement,” Markey wrote.
Causes For Steward Healthcare Bankruptcy:
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