Posted by American News OnLine
Last week IBM announced it was dumping retirees into Obamacare exchanges, now we hear that Time Warner Cable is doing the same thing. Retirees today, current workers tomorrow.
Insurance exchanges are the health-care experiment du jour. Retirees are the test case.
The latest indication: Media-company Time Warner Inc. plans to move its U.S. retirees from company-administered health plans to private exchanges, according to a person familiar with the matter. The company will allocate funds in special accounts that retirees can use to go shop for coverage, the person said.
The news comes as International Business Machines Corp. also plans to move about 110,000 of its own retirees off its company-sponsored health plan to a Medicare insurance exchange.
President Barack Obama’s health-care overhaul calls for such exchanges, which will go live next month, and employers are looking at similar, privately administered exchanges as an alternative to offering their own health plans. (Read More)
Hey, remember four years ago when Obama promised that if nothing would change under Obamacare if you already had a health plan?