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HHS Kicks Off Early Retiree Reinsurance Program
According to a Hewitt Associates retiree benefits survey released earlier this year, many employers are likely to be looking to use "new cost management opportunities" in relation to pre-Medicare retiree benefits. Of the 242 employers Hewitt surveyed that provide coverage to 1.3 million retirees and their families, 77% said they plan to apply for the temporary federal reinsurance program intended to help younger retirees.
The nearly 2,000 approvals are just a part of the applications; the Office of Consumer Information is continuing to accept and review additional applications in the order in which they were submitted.
In addition to unveiling the approved applications, HHS announced two tools for employers and unions interested in the Early Retiree Reinsurance Program—a website and a hotline (877-574-3777 or 877-574-ERRP).
Janice Simmons is a senior editor and Washington, DC, correspondent for HealthLeaders Media Online. She can be reached at jsimmons@healthleadersmedia.com.
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