Health Care
10:52 am
Mon September 16, 2013

More Companies Steering Retirees To Private Health-Insurance Exchanges

Thousands of retirees covered by company health insurance plans will soon see their benefits shifted toward private health-insurance exchanges.

Private health insurance exchanges have existed for several years but are separate from the public health insurance marketplace being created by the Affordable Care Act.
Private health insurance exchanges have existed for several years but are separate from the public health insurance marketplace being created by the Affordable Care Act.

IBM and Time Warner announced the change last week. They’ll provide retirees money to buy Medicare Advantage or supplemental Medigap policies instead, part of a push by businesses to move away from the increasingly costly group-coverage model.

American Airlines may follow. Its parent company, AMR Corp., is seeking approval to make the change from a federal bankruptcy court judge.

Observers say other large companies are likely close behind.

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