Citing costs, IBM to move retirees off health plan

  •   The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Fox News
September 7, 2013

International Business Machines Corp. plans to move about 110,000 retirees off its company-sponsored health plan and instead give them a payment to buy coverage on a health-insurance exchange, in a sign that even big, well-capitalized employers aren’t likely to keep providing the once-common benefits as medical costs continue to rise.

The move, which will affect all IBM retirees once they become eligible for Medicare, will relieve the technology company of the responsibility of managing retirement health-care benefits. IBM said the growing cost of care makes its current plan unsustainable without big premium increases.

IBM’s shift is an indication that health-insurance marketplaces, similar to the public exchanges proposed under President Barack Obama’s health-care overhaul, will play a bigger role as companies move coverage down the path taken by many pensions, paying employees and retirees a fixed sum to manage their own care.

Read more

This article was posted: Saturday, September 7, 2013 at 10:16 am

Tags: ,







Infowars.com Videos:

Comment on this article

Comments are closed.


Watch the News

FEATURED VIDEOS
Dangerous Ideas: Burqa Liberation Day See the rest on the Alex Jones YouTube channel.

Flashback: 'Obama Lone Wolf Will Be Sovereign' See the rest on the Alex Jones YouTube channel.

© 2013 Infowars.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.