Early retirees Seeing benefits of reform health care

Early retirees Seeing benefits of reform health care -

Recently, the Department of Health and Human Services (HHS) announced that the early retiree reinsurance program (HERR) is off to a great start and has provided $ 535 million in federal funding for early retirees. The HRRS helped governments, companies, groups and local religious schools offer young retirees and their families with affordable health insurance.

Funds from HRRS are given to plan sponsors, employers who pay for part of young retirees of health insurance. Typically this age group, ranging from 55 to 65, has trouble providing or obtaining coverage. This age group is usually too young for Medicare, but lose their coverage because of the retirement group.

The Plan sponsors HRRS pay part of the costs to provide coverage to retirees and requires employers to implement cost savings for individuals at high cost. In addition, there are policies to reduce fraud and waste in the programs to ensure that public funds are not used correctly.

individual insurance coverage HRRS disease levels will be comparable to Medicare and exclude routine vision and dental care, infertility treatment, hearing aids, and more.

Participation in HRRS varies considerably by state. For example, California has 518 participating employers and New Mexico only 5 participating employers.

State and local authorities are also the most likely to use the program and account for 47 percent of approved sponsors. In terms of cost, the state and local governments are accounting for more than half of the funding and received more than $ 298 million.

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