IBM dumping retirees on health exchanges

The Dude

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IBM to transfer U.S. retirees to healthcare exchanges next year

(Reuters) - IBM plans to move U.S. retirees off its company-sponsored health plan and shift them into new public insurance exchanges as a way of lowering costs.
IBM had selected Extend Health, which is owned by Towers Watson & Co, to provide retirees with new health options for medical, prescription drug, dental and vision coverage, the company said in a statement on Friday.
The plan, it said, offered IBM retirees more choice and better value than the company could provide through existing group plans.
IBM also said it was hosting meetings with groups of retirees across the country to inform them about the move to the country's largest private Medicare Exchange.
While some retirees may be skeptical, studies showed that the majority of people have a more positive outlook once they were presented with the concept and understood the options available to them through these exchanges, IBM said.
Moving retirees to an exchange allows companies to reduce rising health care costs.
According to the website Alliance@IBM, an employee group, the plan will come into effect starting January 1, 2014.
IBM, the world's largest technology-services company, has been reining in costs to ensure stable profits amid slowing demand for hardware.
At the end of last month most of its staff in its services and technology group was asked to take a week furlough at one-third of normal pay, according to Alliance@IBM.
The company took a $1 billion restructuring charge related to job cuts in its second quarter.
The cuts were taken mainly outside of the United States, a spokesman said at the time, adding about 60 percent were from IBM's services division and 20 percent each from its hardware and software segments.
 
Use your 401k to the fullest folks!
Corporation will drop their promises to you faster than Obuma can drop the anti war promise
 
Use your 401k to the fullest folks!
Corporation will drop their promises to you faster than Obuma can drop the anti war promise

Listen to the Dude. He is wise in the ways of the world.

However my friend, one group of employers is going to move even faster than the corporations. State and local municipal employers are going to jump on this. Teachers, police, sanitation workers....they're gonna get the screw forthwith.
 
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IBM to transfer U.S. retirees to healthcare exchanges next year

(Reuters) - IBM plans to move U.S. retirees off its company-sponsored health plan and shift them into new public insurance exchanges as a way of lowering costs.
IBM had selected Extend Health, which is owned by Towers Watson & Co, to provide retirees with new health options for medical, prescription drug, dental and vision coverage, the company said in a statement on Friday.
The plan, it said, offered IBM retirees more choice and better value than the company could provide through existing group plans.
IBM also said it was hosting meetings with groups of retirees across the country to inform them about the move to the country's largest private Medicare Exchange.
While some retirees may be skeptical, studies showed that the majority of people have a more positive outlook once they were presented with the concept and understood the options available to them through these exchanges, IBM said.
Moving retirees to an exchange allows companies to reduce rising health care costs.
According to the website Alliance@IBM, an employee group, the plan will come into effect starting January 1, 2014.
IBM, the world's largest technology-services company, has been reining in costs to ensure stable profits amid slowing demand for hardware.
At the end of last month most of its staff in its services and technology group was asked to take a week furlough at one-third of normal pay, according to Alliance@IBM.
The company took a $1 billion restructuring charge related to job cuts in its second quarter.
The cuts were taken mainly outside of the United States, a spokesman said at the time, adding about 60 percent were from IBM's services division and 20 percent each from its hardware and software segments.
....and your point being?
 
Use your 401k to the fullest folks!
Corporation will drop their promises to you faster than Obuma can drop the anti war promise
Well I am doing that....I'm also investing in Kaiser Permenente and Blue Cross Blue Shield. There's going to be a lot of money made by these exchanges when the universal mandate is fully implemented.
 
Listen to the Dude. He is wise in the ways of the world.

However my friend, one group of employers is going to move even faster than the corporations. State and local municipal employers are going to jump on this. Teachers, police, sanitation workers....they're gonna get the screw forthwith.
Wow....getting superior coverage at lower cost is getting screwed. Call the whambulance! LOL
 
IBM to transfer U.S. retirees to healthcare exchanges next year

(Reuters) - IBM plans to move U.S. retirees off its company-sponsored health plan and shift them into new public insurance exchanges as a way of lowering costs.
IBM had selected Extend Health, which is owned by Towers Watson & Co, to provide retirees with new health options for medical, prescription drug, dental and vision coverage, the company said in a statement on Friday.
The plan, it said, offered IBM retirees more choice and better value than the company could provide through existing group plans.
IBM also said it was hosting meetings with groups of retirees across the country to inform them about the move to the country's largest private Medicare Exchange.
While some retirees may be skeptical, studies showed that the majority of people have a more positive outlook once they were presented with the concept and understood the options available to them through these exchanges, IBM said.
Moving retirees to an exchange allows companies to reduce rising health care costs.
According to the website Alliance@IBM, an employee group, the plan will come into effect starting January 1, 2014.
IBM, the world's largest technology-services company, has been reining in costs to ensure stable profits amid slowing demand for hardware.
At the end of last month most of its staff in its services and technology group was asked to take a week furlough at one-third of normal pay, according to Alliance@IBM.
The company took a $1 billion restructuring charge related to job cuts in its second quarter.
The cuts were taken mainly outside of the United States, a spokesman said at the time, adding about 60 percent were from IBM's services division and 20 percent each from its hardware and software segments.

Seems reasonable. And another step closer to universal single payer health care!
 
yeap denying what works for political purposes is near an end when it comes to healthcare.



there will be NO healthcare debate in 10 years.


the republicans will actually have to find a NEW idea for a change.
 
Well I am doing that....I'm also investing in Kaiser Permenente and Blue Cross Blue Shield. There's going to be a lot of money made by these exchanges when the universal mandate is fully implemented.

I don't know about the company on a national level, but here in NYC Blue Cross/Blue Shield is catastrophic only coverage.

That will not satisfy the individual mandate.

I'd check on that before investing too much.
 
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