, May 5, 2010

The White House has announced that it would help pay medical bills for early retirees who have health insurance provided by their former employers. The purpose of the temporary $5 billion program, authorized by the new healthcare law, is to reverse the erosion of employer-sponsored insurance, the New York Times reports. Under the program, the federal government can reimburse employers for 80% of the cost of claims from $15,000 to $90,000 a year for a retired worker who is 55 or older and not eligible for Medicare.

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