Blue Ridge Times, June 24th, 2007
What with years of layoffs, employee buyouts and sending jobs offshore,
corporate America has helped create a pool of about 800,000 early
retirees who now find themselves in a health care bind.
They are no longer eligible for employer insurance programs,
too young to qualify for Medicare and unable to afford private
insurance on their own.
But now corporate America, having created the problem, is trying to help solve it.
A group of some of the nation’s biggest companies plans to
announce today a program meant to make health insurance available to
their former employees ages 55 to 64.
Not only would the insurance policies be relatively
affordable, but no one could be turned down for coverage, regardless of
medical condition. That is a crucial provision, because high blood
pressure, heart disease, cancer and other medical afflictions of late
middle age can make it hard for early retirees to find an insurer
willing to cover them at any price.
The specifics will vary from employer to employer, with some
companies helping subsidize the coverage. Other employers might simply
create large pools of retirees, making them eligible for discounted
group rates.
