A new survey conducted this month finds most companies that offer pre-65 retiree medical benefits intend to apply for a federal reinsurance reimbursement program enacted under new health care reform legislation.
The provision goes into effect June 1, and because federal funding for the program is limited, companies are being encouraged to act fast.
Hewitt Associates surveyed 245 large employers that offer medical benefits to more than 1.3 million retirees. The survey found that more than three-quarters (76 percent) of companies plan to pursue reimbursement under the Early Retiree Reinsurance Program (ERRP) included in the Affordable Care Act.
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