Saturday, September 4, 2010

Early Retiree Health Reinsurance Plan

Source: Whitehouse

New Resources for Employers and Unions to Help Keep Health Coverage Accessible and Affordable

Posted by Secretary Gary Locke on August 31, 2010 at 10:58 AM EDT

If you are an employer, you know how difficult it can be to find – and provide– health insurance for your retired employees who are age 55 or older and not yet eligible for Medicare. 

Some Americans who retire before they are eligible for Medicare see their life savings disappear because of medical bills and exorbitant rates in the individual health insurance market.  And the cost of insurance can be out of reach for individuals looking to buy health coverage on their own.

Many employers would like to help their employees make this transition comfortably and provide access to health insurance past retirement. But in these tough economic times, it is difficult for employers to keep up with skyrocketing health care costs for employees and retirees.

The Affordable Care Act’s Early Retiree Reinsurance Program will make it a little easier for employers to provide high-quality health benefits to their retirees.

Read more.

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