Time Warner To Remove U.S. Retirees From Company Health Plan

[Pryderi]

NEW YORK (Reuters) - Time Warner Inc is planning to transfer its U.S. retirees from company-sponsored health plans and move them to private insurance exchanges.

According to an August memo obtained by Reuters, the media company will make allocations to a Health Reimbursement Arrangement account for retirees to use towards the purchase of coverage on an exchange. Previously, Time Warner provided an indirect subsidy through a supplementary Medicare program.

The shift "will ultimately be beneficial for all retirees by providing more choice of coverage ... for, in many cases, a lower cost," read the memo, which was written by James Cummings, the company's senior vice president of global compensation and benefits.

The change in coverage will take effect on January 1, 2014.

http://www.huffingtonpost.com/2013/09/08/time-warner-retirees-heatlhcare_n_3890669.html?utm_hp_ref=business

[Schema Thing]

1. cool

[hollysmom]

2. If you are not union, you can be removed from health care after retirement

altogether. Happened to a friend of mine.

[Thinkingabout]

3. For these companies to start moving their retirees into exchanges set up to comply with

The ACA gives me confidence this is going to turn out cheaper and perhaps on our way to a national health care. This is exciting's to me, thanks for those who fought so hard to get the ACA passed and to President Obama for signing it.

[antigop]

4. they are being moved to a PRIVATE exchange, not the state public exchanges nt

[Thinkingabout]

5. Do you think any if the exchanges would have been set up without ACA? Doubtful.

A friend who is paid through Pay Chex was offered a group rate disability, life, dental and health insurance at a cheap rather, he has used the health and dental and it pays well. This is not impossible and as bumps in the road are repaired the we can all benefit.

Recently a friend fell and broke a leg in France while visiting, she saw a Dr who had her x-rayed, referred to orthopedic specialist, had cast placed, given crutches for $36 cost and within two hours. She returned to the US, it took eleven days to appointment with orthopedic. Cost $35 co-pay.

[antigop]

6. WSJ: Some companies began experimenting with exchanges around 8 years ago

http://online.wsj.com/article/SB10001424127887323893004579059393251153348.html

Some companies began experimenting with exchanges around eight years ago after accounting changes forced public corporations to disclose future health-care obligations.

They've been around before the PPACA.

[gopiscrap]

7. If we had our priorities straight

we wouldn't have to worry about it. We would have a single payer plan from cradle to grave.