The direct-contract option will cost GM employees between $300 to $900 a year less in premiums than the cheapest traditional plan offered by the company. (Photo: Shutterstock)

Twenty-four thousand General Motors workers in Michigan will be able to choose a cheaper health care plan that the company has negotiated directly with one of the state's largest health systems.

The company announced on Monday that it had inked a deal with the Henry Ford Health System, ironically named for the founder of GM's longtime rival.

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