As the company’s coverage ends, retirees will have to choose between purchasing insurance from exchanges, which are being set up as part of President Barack Obama’s health-care legislation, or pay a $95 tax penalty for failing to buy a health plan.
While McClatchy will continue offering its insurance program until Dec. 31, 2014, the coverage doesn’t meet the requirements of the new legislation, according to a Sept. 10 letter obtained by Bloomberg News. That means retirees won’t be able to use it as their main health plan. The move will affect 51 people, McClatchy said in a separate statement.
“Like other employers across the country we are re-examining all of our health-care plans, including our retiree plans, and making adjustments given the new health-care reform law,” said Ryan Kimball, assistant treasury for the Sacramento, California-based company.
3 comments:
I believe that it's only the health care plans offered to retirees that's affected.
Thanks for pointing that out. It has been corrected.
I am amazed they even offered health insurance to retirees. Most companies don't do that.
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