Large U.S. Company Chooses to End Insurance Coverage for Retirees

The McClatchy Company owns 30 daily U.S. newspapers, and like other large U.S. companies, such as General Electric, Time Warner and the International Business Machines Corporation, it has chosen to reexamine “all” of its health care plans—which includes its health care plan for retirees. McClatchy’s current insurance coverage for retirees does not meet the standards set by the Affordable Care Act. Though nothing in the Act requires McClatchy to end its health care plan for retirees, the company will steer its former employees to the insurance exchanges.

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