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EBRI: $5B for retiree coverage likely to run out early

New analysis from the Employee Benefit Research Institute shows the $5 billion allocated for a temporary reinsurance program for early retiree health benefits will likely run out two years before the program's 2014 end date.

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New analysis from the Employee Benefit Research Institute shows the $5 billion allocated for a temporary reinsurance program for early retiree health benefits will likely run out two years before the program’s 2014 end date.

Under the Early Retiree Reinsurance Program, beginning June 1, companies can receive an 80 percent reimbursement on claims incurred by early retirees and dependents between $15,000 and $90,000 over the course of a year. Eligible claims include medical, prescription drug and behavioral health. The ERRP will last until Jan. 1, 2014, or until the $5 billion set aside for the program is exhausted.

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