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Many companies are reevaluating healthcare strategy for retirees
Thursday, 28 April 2011 16:14

Many companies are reevaluating healthcare strategy for retireesThe healthcare landscape is beginning to change for individuals who are turning 65 and are still working, according to a recent report from consulting and outsourcing company Aon Hewitt. The findings revealed that many large employers in the U.S. are rethinking their retiree medical strategy, with about 61 percent of survey respondents saying that they are doing so as a result of health reform.

Out of the 344 companies that participated in the study, an estimated 23 percent said that they were still considering whether to assess their current strategy, while only 16 percent had no immediate plans to do so.

"Healthcare reform creates both challenges and opportunities for employers sponsoring retiree medical programs," said Aon Hewitt expert John Grosso. "Most employers have been studying the new legislation to understand how to effectively manage the challenges, while taking full advantage of the new opportunities going forward."

Many companies are planning to apply for the Early Retiree Reinsurance Program to help offset a portion of the costs of medical claims for individuals between the ages of 55 and 64. Of these businesses, about half said that they would use the proceeds to reduce premiums for both employers and workers.
 

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