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Monday, Sep 9
Time Warner to move retirees to health exchanges
- Time Warner (TWX) intends to join IBM and other major companies in transferring its U.S. retirees from company sponsored health programs to private exchanges on January 1. Time Warner will provide the money that retirees can use to shop around for coverage.
- The moves by the corporations come as they look for ways to limit their health-care expenses by adopting the "defined contribution" model they long ago took up for pensions.
- The trend is a boon for Extend Health, a health-insurance exchange operated by Towers Watson (TW). Extend Health has around 300 corporate clients, up from 76 at the end of 2010.
This was corrected on 09/09/2013 at 03:36 PM.