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From Kelly Montgomery, for About.com

Most Employers Keep Retirees On Company Drug Coverage

Thursday December 14, 2006
While many experts predicted that employers would drop prescription drug benefits for retirees once the Medicare Part D program was underway, a recent study shows that most are not electing to do so. According to the Houston Chronicle, 82% of companies retained prescription drug coverage for their retirees in 2006, while 78% plan to do so for 2007. This study, conducted by the Kaiser Family Foundation and Hewitt Associates LLC, does contain some bad news, however - premiums for retiree coverage are rising. 74% of companies raised premiums for retirees under age 65, while 58% raised them for retirees 65 and older. So the bottom line seems to be that most retirees can remain on their company's health benefits plan, if they can afford to.

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