The HRRS is only a temporary program until early retirees will be able to find affordable health insurance markets based on the state in 2014. Many young pensioners are denied coverage because they have pre-existing conditions and are no longer on a group health insurance plan.
According to The Arizona Daily Star , the program will reimburse employers for health insurance costs incurred by the retirees who are 55 or older. Refunds will cover 80 percent of medical costs between $ 15,000 and $ 0,000.
reform health care set aside $ 5 billion to provide financial assistance to employers until the exchanges are created. This provision will provide financial assistance to businesses, trade unions, non-profit organizations and governments.
HHS Secretary Kathleen Sebelius said: "The Law Affordable Care not only helps consumers reduce their health care costs and access to quality care, it is also designed to help employers offer coverage. The early retiree reinsurance program will help employers continue to provide much needed health insurance to their retirees. Today, Americans who have retired but are not yet eligible for Medicare are often unable to find coverage that is affordable and meets their health care needs in the individual market. This program will help retirees and employers facing escalating costs of health care and ensure more Americans have access to health care they need. "
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