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Early Retirees and Health Insurance Exchange

Those who retire without employee-sponsored health insurance and are not yet eligible for Medicare will gain benefits:

June 2010 to January 1, 2014:
  • The Federal Government will make $5 billion available for the Early Retiree Reinsurance Program, available to employers to help them offer health insurance coverage to retired employees aged 55 and until they qualify for Medicare
  • These funds will reimburse employers up to 80% of claims costs between $15,000 and $90,000 for early retirees, their spouses, and their dependents
  • Funds must be used by employers to reduce health care costs, including reducing premiums, co-pays, or deductibles, for themselves or their retirees
  • Self-funded and insured plans can apply, including plans sponsored by private companies, state and local governments, non-profits, religious organizations, and unions
January 1, 2014:
  • Early Retiree Reinsurance Program funds no longer available; early retirees able to purchase insurance through the exchange
Last Updated: Wednesday May 04 2011
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