IBM, Time Warner To Move Retirees to Private Exchanges
IBM plans to move about 110,000 retirees off of its company-sponsored health coverage and into a private insurance exchange, similar to those created under the ACA. The company said it aims to curb costs by moving all IBM retirees who are eligible for Medicare to the country's largest private Medicare exchange -- Extend Health -- which is operated by Towers Watson. Time Warner also is planning to shift its U.S. retirees from company-sponsored health plans to private insurance exchanges, according to a memo sent to retirees in August.
- "IBM To Move Retirees Off Health Plan" (Ante, Wall Street Journal, 9/7).
- "IBM To Shift Retirees to Health Care Exchange due to Rising Costs" (Hattem, "Healthwatch," The Hill, 9/7).
- "Time Warner To Move U.S. Retirees to Health Care Exchanges" (Vlastelica, Reuters, 9/8).