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Time Warner to move U.S. retirees to healthcare exchanges
Source: Reuters
Time Warner to move U.S. retirees to healthcare exchanges
NEW YORK | Sun Sep 8, 2013 7:02pm BST
(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.
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NEW YORK | Sun Sep 8, 2013 7:02pm BST
(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.
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Read more: http://uk.reuters.com/article/2013/09/08/us-time-warner-healthcare-idUKBRE9870C420130908
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