Obamacare strikes again:
3M Co. confirmed it would eventually stop offering its health-insurance plan to retirees, citing the federal health overhaul as a factor.
The changes won’t start to phase in until 2013. But they show how companies are beginning to respond to the new law, which should make it easier for people in their 50s and early-60s to find affordable policies on their own. While thousands of employers are tapping new funds from the law to keep retiree plans, 3M illustrates that others may not opt to retain such plans over the next few years.
(Via the Corner.)
I think it’s time we started keeping a scoreboard of those at risk of losing their current health care:
- 3M retirees.
- Customers of Principal Financial Group.
- McDonald’s employees.
- Participants in Medicare Advantage.
- College students.
- Families with new children.
- Participants in Medicare prescription drug plans that are being terminated.
And remember, this is just the bow wave as companies come to grips with the new law. The Obama administration’s internal documents estimate that over half of all health plans will ultimately be terminated. They also predicted severe price hikes in plans that survive.
The President’s claim that those who like their insurance could keep it? That was a lie.
Internet Scofflaw 