Side Effects: Obamacare Compels More Employers to Dump Coverage

Kathryn Nix / October 06, 2010

Obamacare has struck again. Last week, 3M announced plans to drop health benefits for retirees, citing the new law’s impact as a contributor in its decision.

In 2013, 3M retirees who qualify for Medicare will lose their current employer-sponsored health benefits, and instead receive a health reimbursement account (HRA) with which to buy a Medicare plan.

In 2015, this policy will extend to all 3M retirees. Those who do not qualify for Medicare will be able to use their HRA to purchase a health plan in the new federally mandated insurance exchanges. (more…)