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BUSINESS
W.Va. groups get insurance help
Several West Virginia companies were among those accepted into the Early Retiree Reinsurance Program by the U.S. Department of Health and Human Services.
The program was created by the Affordable Care Act and provides $5 billion in financial assistance to employers and unions to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare, according to a news release. Nearly 2,000 employers have been accepted into the program and will begin to receive reimbursements for employee claims this fall.
In West Virginia, those include Building Trades Welfare Fund for the Ohio Valley, Highmark West Virginia Inc., IUOE Local 132 Health & Welfare Fund, Severstal Wheeling Inc., Special Metals Corp. Salaried Employees Welf, Teamsters Local Nos. 175 & 505 Health & Welfare Fund, The Association of Non Represented Salaried Retirees of Weirton Steel, Fenton Art Glass Co. and Wheeling-Pittsburgh Steel Corp. Retiree Benefits Plan.
The Department of Health and Human Services also has two new information tools for employers and unions interested in the Early Retiree Reinsurance Program. Those include www.ERRP.gov and a new hotline (877-574-3777 or 877-574-ERRP).
