3M Co. on Friday informed retirees and workers it will stop offering a group health-insurance plan to retirees not old enough for Medicare by 2015, citing the federal health overhaul as a factor.
By JANET ADAMY at WSJ
EXCERPTS:
"As you know, the recently enacted health care reform law has fundamentally changed the health care insurance market," the 3M memo said. "Health care options in the marketplace have improved, and readily available individual insurance plans in the Medicare marketplace provide benefits more tailored to retirees' personal needs often at lower costs than what they pay for retiree medical coverage through 3M.
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