IBM Moves Retirees to Insurance Exchange as Costs Rise - Bloomberg

IBM Moves Retirees to Insurance Exchange as Costs Rise - Bloomberg:

 "BM had projected that with its current plans, costs for retirees would triple by 2020. Most of that would affect retirees’ premiums and out-of-pocket costs.
IBM said the new arrangement puts the retirees in a bigger pool of beneficiaries, spreading risk and lowering cost.

Reuters reported the change yesterday.

“IBM didn’t make this change to save money -- it does not reduce our costs,” Shelton said, noting that IBM’s subsidies were capped in the 1990s."