Herald Palladium > Local News > Whirlpool joins early retiree health insurance program

Whirlpool Corp. has joined 176 other employers and unions in Michigan that will receive federal funding under the recent health care overhaul bill for an early retiree reinsurance program.

The program aims to help retiring employees 55 years or older who do not yet qualify for Medicare.

The $5 billion program is reimbursing nearly 3,600 employers nationwide for a portion of the cost of health benefits for early retirees and their families, surviving spouses and dependents, according to a news release from the U.S. Department of Health and Human Services.

The savings that employers receive from the program can be used to reduce health care costs or provide premium or out-of-pocket relief to workers and their families, the department said.

Applications are still being accepted for the Affordable Care Act's Early Retiree Reinsurance Program.