Tuesday, June 29, 2010

What a TERRP

Both Humana and United HealthCare have alerted me (via email) that the new Temporary Early Retiree Reinsurance Program (TERRP) is up and running. Another little under-the-radar ObamaCare© nugget, this one funnels some $5 billion to insurance carriers, via early retirees participating in their erstwhile employers' group health insurance plans.

As a side note, ObamaCare©'s certainly turning out to be quite the cash cow for those evil, greedy, heartless insurance carriers, isn't it? Funny how that happened.

To be eligible, these lucky first adopters, er...retirees must be between 55 and 64 and not Medicare-eligible. The subsidy also includes their spouses (and surviving spouses) as well as dependents.

I particularly love UHC's spin:

"The objective of the legislation addresses erosion of benefits for early retirees through making health benefits ... More affordable to both members and employers ... [and] Accessible to more Americans than they would otherwise be without this program."

How nice. Sure it wasn't just to keep those premium dollars flowing to UHC, et al?

Just askin'.
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