Temporary Reinsurance for Early Retirees Program
Starting on June 1, 2010, a temporary reinsurance program authorizes $5 billion to provide coverage for certain early retirees who are age 55 and over. The program is designed to last until 2014, when early retirees will be able to purchase additional coverage made available in the state-administered exchanges.
Who Qualifies for Coverage
The program will pay employer–based plans for certain claims on behalf of early retirees, their spouse, surviving spouse and dependents. “Early retiree” means an individual age 55 and older who is neither an active employee nor eligible for Medicare...