Delawaredave5
Full time employment: Posting here.
- Joined
- Dec 22, 2004
- Messages
- 699
Wonder if this is the first of more to come. Right now, medical coverage is part of my Megacorp pension - not sure for how long...
3M to Change Health-Plan Options for Workers - WSJ.com
3M Co. on Friday informed retirees and workers it will stop offering a group health-insurance plan to retirees not old enough for Medicare by 2015, citing the federal health overhaul as a factor.
The St. Paul, Minn., manufacturing conglomerate also said that, for retirees old enough to qualify for Medicare, it will replace its current medical benefit with a new health-reimbursement arrangement by 2013.
The maker of Post-it notes and Scotch tape said it made the announcement now to allow retirees the chance to explore different options during this year's benefit-enrollment period, according to a memo reviewed by The Wall Street Journal. A 3M spokeswoman, Jackie Berry, confirmed the memo.
"As you know, the recently enacted health care reform law has fundamentally changed the health care insurance market," the 3M memo said. "Health care options in the marketplace have improved, and readily available individual insurance plans in the Medicare marketplace provide benefits more tailored to retirees' personal needs often at lower costs than what they pay for retiree medical coverage through 3M.
3M to Change Health-Plan Options for Workers - WSJ.com
3M Co. on Friday informed retirees and workers it will stop offering a group health-insurance plan to retirees not old enough for Medicare by 2015, citing the federal health overhaul as a factor.
The St. Paul, Minn., manufacturing conglomerate also said that, for retirees old enough to qualify for Medicare, it will replace its current medical benefit with a new health-reimbursement arrangement by 2013.
The maker of Post-it notes and Scotch tape said it made the announcement now to allow retirees the chance to explore different options during this year's benefit-enrollment period, according to a memo reviewed by The Wall Street Journal. A 3M spokeswoman, Jackie Berry, confirmed the memo.
"As you know, the recently enacted health care reform law has fundamentally changed the health care insurance market," the 3M memo said. "Health care options in the marketplace have improved, and readily available individual insurance plans in the Medicare marketplace provide benefits more tailored to retirees' personal needs often at lower costs than what they pay for retiree medical coverage through 3M.