Wednesday, September 25, 2013

Kansas City Star parent company to shut down health care plan for retirees

McClatchy, the company that owns the Kansas City Star, is planning on shutting down its health care insurance program for retirees by the end of the year:

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:

Anonymous said...

I believe that it's only the health care plans offered to retirees that's affected.

Randy said...

Thanks for pointing that out. It has been corrected.

M. Davison said...

I am amazed they even offered health insurance to retirees. Most companies don't do that.