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Retiree Reinsurance Program Will Be Exhausted in Two Years
Old 06-14-2010, 11:40 AM   #1
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Retiree Reinsurance Program Will Be Exhausted in Two Years

I was unaware of this program, but it seems to be running out. If you are age 55-65 you might be interested in this.

The $5 billion reinsurance program that provides health benefits to retirees who are over age 55 and not yet eligible for Medicare will likely dry up in two years, according to a study by the Employee Benefit Research Institute. This would be two years ahead of the programís planned termination date.

Congress appropriated the funds for sponsors of employment-based health plans effective June 1 as part of the Patient Protection and Affordable Care Act of 2010. The program gives an 80% subsidy for retiree claims of between $15,000 and $90,000. The funding plan is designed to terminate on Jan. 1, 2014.
Study: Retiree Reinsurance Program Will Be Exhausted in Two Years - Financial Planning

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Old 06-14-2010, 12:01 PM   #2
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I'm shocked. Shocked, I say.

"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)

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Old 06-15-2010, 09:42 AM   #3
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You mean they underestimated the cost of a health program? Who would've guessed...
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