3M Co. said it will soon stop offering its company health insurance plan to retirees, giving them a sum of money to shop and buy insurance on the open market instead.
The Maplewood-based maker of Post-it Notes and Scotch Tape said it is making the change in response to the new health reform law.
"Health care options in the market under the health care reform law became better," said spokeswoman Jackie Berry, adding that taking retirees off the 3M group plan would save money for both 3M and retirees.