Time Warner will move all of its retirees from company-sponsored insurance plans to healthcare exchanges on Jan 1, 2014, according to a memo obtained by Reuters.
Reuters obtained a memo in which the company indicated it “will make allocations to a Health Reimbursement Arrangement account for retirees to use towards the purchase of coverage on an exchange.”
In the memo, Time Warner asserted the move “will ultimately be beneficial for all retirees by providing more choice of coverage” and claimed it will lower cost for the retirees.
The healthcare exchanges, as a part of Obamacare, are set to go into effect in October.
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