Indiana – Early Retiree Reinsurance Program
Rising health care costs have made it difficult for employers to provide quality, affordable health insurance for workers and retirees while also remaining competitive in the global marketplace. The percentage of large firms providing workers with retiree health coverage has dropped from 66 percent in 1988 to 29 percent in 2009.1 Health insurance premiums for older Americans are over four times more expensive than they are for young adults,2 and the deductible these enrollees pay is, on average, almost four times that for a typical employer-sponsored insurance plan.3
The Affordable Care Act creates a new program called the Early Retiree Reinsurance Program to help address this challenge that employers and older employees are facing. The Early Retiree Reinsurance Program 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.
Businesses, other employers, and unions that are accepted into the program will receive reimbursement for medical claims for early retirees and their spouses, surviving spouses, and dependents. Savings can be used to reduce employer health care costs, provide premium relief to workers and families, or both. Applicants who are approved into the program receive reinsurance for the claims of high-cost retirees and their families (80 percent of the costs from $15,000 to $90,000). The program ends on January 1, 2014 when State health insurance Exchanges are up and running.
HHS has approved the following sponsors from Indiana. More applications are being approved each day.
- Accuride Corporation
- Allen County Auditor
- AM General LLC
- American United Life Insurance Company
- Anderson University, Inc.
- Argos Community School Corporation
- ATH Holding Company LLC
- Atlas Van Lines, Inc.
- Avon Community School Corporation
- Ball State University
- Barnes & Thornburg LLP
- Barr Reeve Community Schools Employee Benefit Trust
- Bartholomew Consolidated School Corporation
- Bartholomew County Employee Benefit Trust
- Batesville Community School Corporation
- Baugo Community Schools
- Berry Plastics Corporation
- Bloomfield School District Employee Benefit Trust
- Board of Trustees Indiana Construction Trades Health & Welfare Plan
- Board of Trustees Northwest Indiana Painters Welfare Fund
- Bricklayers and Allied Craftworkers
- Brown County Schools Employee Benefit Trust
- Carmel Clay Schools
- Cass Township Laporte Co
- Caston School Corporation
- Central Indiana School Employees' Insurance Trust
- Central Noble Community School Corporation
- Citizens Energy Group
- City of Bloomington, IN
- City of Carmel
- City of Connersville
- City of Crown Point
- City of East Chicago
- City of Evansville*
- City of Fort Wayne
- City of Frankfort
- City of Gary
- City of Hammond, Indiana
- City of Huntingburg Employee Benefit Plan*
- City of Indianapolis
- City of Jasper Employee Benefit Trust
- City of Lawrence
- City of Monticello
- City of Noblesville
- City of Portage
- City of Richmond
- City of Seymour, IN*
- City of Shelbyville & Sewage Works Operating
- City of Tell City
- City of Vincennes
- Civil City of Auburn
- Clay Community Schools
- Commercial Barge Line Company
- Concord Community Schools
- County of Decatur*
- Crowe Horwath LLP
- Crown Point Community School Corporation
- CTB, Incorporated
- Culver Community Schools Corp
- Cummins Inc.
- Daviess-Martin Special Education Cooperative
- Dearborn County Hospital
- DePauw University
- Dewey Township Laporte County
- Dometic Corporation
- Dorel Juvenile Group, Inc.
- East Central Illinois Pipe Trades Health and Welfare Fund
- East Central Indiana School Trust
- East Washington School Corporation
- Electrical Workers Benefit Trust Fund
- Eli Lilly and Company
- Elkhart Community Schools
- Elkhart County
- Employers & Cement Masons Local 90 Health & Welfare Fund
- Evansville-Vanderburgh School Corp.
- Fairfield Community School Corporation
- First Merchants Corporation
- Flat Rock-Hawcreek Schools Employee Benefit Trust*
- Fort Wayne Community Schools
- FRANCISCAN ALLIANCE, INC.*
- Gary Community School Corporation
- German American Bancorp, Inc.
- Gibson Pike Warrick Special Education
- Glazing Employers & Glaziers Union Local 27 Health & Welfare Fund
- Good Samaritan Hospital
- Goshen Community Schools Corp.
- Greater Jasper Consolidated Schools Employee Benefit Trust
- Greater Randolph County Insurance Consortium
- Greencastle Community School Corporation
- Greensburg Community Schools
- Hamilton County
- Hamilton Southeastern Schools
- Hancock Regional Hospital
- Hanover Community School Corporation
- Haynes International, Incorporated
- Henry County
- Henry County Hospital
- Hill-Rom Holdings, Inc.
- Hoosier Heartland School Trust
- Hoosier Scholl Benifit TR
- Huntington County Community School Corporation Employee Benefit Trust
- IACT Medical Trust
- IN Excise Police & IN Conservation Officers Hlth Ins Committee*
- Indiana Bricklayers, Block Layers, Tuck Pointers, Stone & Marble Masons, Tile Layers & Terrazzo
- Indiana Financial Institutions Group Insurance Trust
- Indiana Laborers Welfare Fund
- Indiana Packers Corporation*
- Indiana State Council Plasterers & Cement Masons H
- Indiana State Police
- Indiana State Teachers Association
- Indiana State University
- Indiana Statewide Rural Electric Cooperative Inc.
- Indiana Teamsters Health Benefits Fund
- Indiana University
- Indiana/Kentucky Carpenters Welfare Fund
- International Association of Heat & Frost Insulators & Asbestos Workers Local 18 Employee Benefit Plan
- International Brotherhood of Electrical Workers Local 1392 Health & Welfare Fund
- International Union of Painters Allied Trades Loca
- IPALCO Enterprises, Inc.VEBA Committee
- Iron Workers Local 395 Trust Fund
- Ivy Tech Community College of Indiana
- Jackson County Employees
- Johnson County Government
- Lafayette School Corporation
- Lake Central School Corporation
- Lake County, Indiana NECA-IBEW Health and Benefit Plan
- Lake Ridge Schools
- LaPorte County Government
- Lebanon Community School Corporation
- Lincoln National Corporation
- Lincoln National Life Insurance Co.
- Loogootee Community School Corporation
- Maconaquah School Corporation*
- Marion Community Schools
- Marion County
- Marsh Supermarkets, LLC
- Medora Community School Corporation
- Merrillville Community School Corporation
- Metropolitan School District of Warren Township
- Metropolitan School District of Washington Township
- Michigan City Area Schools
- Mid Central Operating Engineers Health and Welfare Fund
- Middlebury Community Schools
- MidWest America Federal Credit Union
- Midwest Area School Employees' Insurance Trust
- Mitchell Community Schools
- Monroe County Community School Corporation
- MSD of Lawrence Township
- MSD of Mt. Vernon
- MSD Pike Township
- Mt. Vernon Community School Corporation
- Muncie Community School Corporation
- New Castle Community School Corporation
- NiSource Inc.
- North Central Indiana School Ins Consortium TR
- North Daviess Community Schools
- North Gibson School Corporation
- North Harrison Community School Corporation
- North Judson-San Pierre School Corporation
- North Knox School Corporation RR 1
- North Lawrence Community Schools
- North Montgomery Community School Corporation
- North Spencer County School Corporation
- North West Hendricks School
- Northeast Indiana School Insurance Consortium Trust
- Northeast School Corporation
- Northern Indiana Commuter Transportation District
- Northwest Allen County Schools
- Northwest Indiana Special Education Cooperative
- Old National Bancorp
- Painters Local Union No. 156 Health & Welfare Fund*
- Paoli Community School Corporation
- Parkview Health System, Inc.
- Penn-Harris-Madison School Corporation
- Pipe Trades Industry Health And Weffare Plan
- Plumbers & Pipefitters Local 172 Welfare Fund
- Plumbers & Steamfitters Local 166 Health and Welfare
- Plumbers and Steamfitters Local 440 Health and Welfare
- Plumbers Local #210 Health & Welfare Fund
- Porter County School Employees' Insurance Trust
- Purdue University
- Rea Magnet Wire Company, Inc.
- Red Spot Paint & Varnish Co., Inc.
- Reith-Riley Construction Co, Inc
- Rensselaer Central School Corporation
- Richmond Community Schools Employee Benefit Trust
- Saint Marys College*
- Saint-Gobain Containers
- Salem Community Schools
- School City of East Chicago
- School City of Hammond
- School City of Mishawaka
- School City of Warsaw
- School City of Whiting
- School Employees' Benefit Trust (SEBT)
- School Town of Highland
- School Town of Munster
- Schurz Communications, Inc.
- Seymour Community Schools
- Sheet Metal Workers Local No. 20 Welfare and Benefit Fund
- Shenandoah School Corporation
- Shoals Community School
- South Bend Community School Corporation
- South Central Indiana School Trust
- South Dearborn Community School Corporation
- South Gibson School Corporation
- South Knox School Corporation
- South Madison Community School Corporation
- South Spencer County School Corporation
- Southeast Dubois County School Employee Benefit Trust
- Southwest Dubois County School Corporation
- Southwest School Corp. of Sullivan County
- SPECIAL SERVICES UNIT*
- Springs Valley Community Schools
- State of Indiana
- Steel Dynamics, Incorporated
- Subaru of Indiana Automotive, Inc.
- Taylor Community School Corporation
- Technicolor USA, Inc.
- Tell City - Troy Township School Corporation
- The Board of School Commissioners of the City of Indianapolis
- The County of Lake, Indiana
- The Indiana State Council of Rooters Health and Welfare Fund
- Treasurer of Columbus City of Columbus
- Tri Creek School Corporation.
- University of Indianapolis
- University of Notre Dame du Lac*
- University of Southern Indiana
- Urschel Laboratories, Inc.
- Valparaiso Community Schools
- Vanderburgh County
- Vectren Corporation
- Vigo County School Corporation
- Vincennes Community School Corporation
- Wabash City Schools.
- Wa-Nee Community Schools
- Warrick County Auditor
- Warrick County School Corporation
- Washington Community Schhols Employees Benefit Trust*
- Wawasee Community School Corporation
- Wayne County Employee Benefit Trust
- West Clark Community Schools
- West MI Plumbers, Fitters & Service Trades Local Union No. 174 Fund
- Westview School Corporation
- WV/WCI School Trust
- Zimmer Holdings, Inc.
- Zionsville Community Schools
*New program participants as of May 24, 2011. List to be updated monthly.
[1] Kaiser / HRET. Employer Health Benefits: 2009 Survey.
[2] Center for Policy and Research. Individual Health Insurance 2009.
[3] Kaiser Family Foundation. 2010. Survey of People Who Purchase Their Own Insurance.