Illinois – Early Retiree Reinsurance Program
Rising health care costs have made it difficult for employers to provide quality, affordable health insurance for workers and retirees while also remaining competitive in the global marketplace. The percentage of large firms providing workers with retiree health coverage has dropped from 66 percent in 1988 to 29 percent in 2009.1 Health insurance premiums for older Americans are over four times more expensive than they are for young adults,2 and the deductible these enrollees pay is, on average, almost four times that for a typical employer-sponsored insurance plan.3
The Affordable Care Act creates a new program called the Early Retiree Reinsurance Program to help address this challenge that employers and older employees are facing. The Early Retiree Reinsurance Program provides $5 billion in financial assistance to employers and unions to help them maintain coverage for early retirees age 55 and older who are not yet eligible for Medicare.
Businesses, other employers, and unions that are accepted into the program will receive reimbursement for medical claims for early retirees and their spouses, surviving spouses, and dependents. Savings can be used to reduce employer health care costs, provide premium relief to workers and families, or both. Applicants who are approved into the program receive reinsurance for the claims of high-cost retirees and their families (80 percent of the costs from $15,000 to $90,000). The program ends on January 1, 2014 when State health insurance Exchanges are up and running.
HHS has approved the following sponsors from Illinois. More applications are being approved each day.
- A FINKL & SONS CO.
- Abbott Laboratories
- Accenture, LLP
- ACCO Brands Corporation
- Addison Fire Protection District No 1
- Administrative District Council 1 Welfare Fund
- Akzo Nobel Inc.
- Alcan Corporation
- Alcan Rolled Products - Ravenswood LLC
- Allstate Insurance Company
- American Farm Bureau Federation
- American Fed. of State, County and Municipal Employees (Council 31)
- American Library Association
- Amsted Industries Incorporated
- Aon Corporation
- Arcelormittal USA
- Arcelormittal USA Inc.
- Archer Daniels Midland Company
- Arthur Andersen LLP
- Automatic Sprinkler Local 281,U.A. Welfare Fund
- Automobile Mechanics' Local 701 Union & Industry W
- Baxter International Inc.
- Blistex Inc.
- Board of Trustees of the Employers and Operating Engineers Local 520 Health and Welfare Fund
- BP Corporation North Amercia Inc.
- Bridgman Michigan LLC*
- Caterpillar Inc.
- CC & FPD Employees' Annuity & Benefit Fund
- CC Industries, Inc.
- Cement Masons Institute Local 502 Welfare Trust Fund
- Central Illinois Carpenters Health & Welfare Trust
- Central Laborers Welfare Fund
- Central Steel and Wire Company
- CF Industries, Inc.
- Chas Levy Company & Subs
- Chicago Board Options Exchange*
- Chicago District Council of Carpenters Welfare Fund
- Chicago Graphic Arts Health and Welfare Fund
- Chicago Mercantile Exchange Inc
- Chicago Painters and Decorators Welfare Fund ("Board of Trustees")
- Chicago Tile Institute Welfare Fund
- Chicago Transit Authority-Retiree Healthcare-Trust
- Chicago Zoological Society
- Christian Brothers Employee Benefit Trust
- City of Alton, Illinois
- City of Aurora
- City of Bloomington
- City of Blue Island
- City of Chicago
- City of Clinton
- City of Collinsville
- City of Crest Hill
- City of Decatur
- City of DeKalb
- City of Des Plaines
- City of East Moline
- City of Elgin
- City of Evanston
- City of Flora
- City of Galesburg, IL
- City of Highland Park
- City of Lockport
- City of Mattoon, Illinois
- City of Moline
- City of Mount Vernon, Illinois
- City of Naperville
- City of Peoria
- City of Princeton*
- City of Rockford
- City of Rolling Meadows
- City of Springfield,Illinois
- City of St. Charles
- City of West Chicago Office of Treasurer*
- City of Wheaton
- City of Wood Dale
- City of Wood Dale, Wood Dale, IL
- City of Zion City Treasurer
- Columbia Pipe & Supply Co.
- Community College District 514 (Illinois Central College)
- Community Consolidated School District 59
- Community High School District 218
- Consolidated Communications Holdings, Inc.
- Consolidated High School District 230*
- Construction Industry Welfare Fund of Rockford, Il
- Continental Casualty Company
- Cook Co High Sch Dist 201
- Cook County Community Consolidated School District
- Cooperative 90S Health Plan
- Corn Products International, Inc.
- County of Coles
- County of DuPage Downers Grove Grade School 58
- County of Jo Daviess
- County of Macon
- County of Madison
- County of McHenry
- County of McLean
- County of Ogle School Dist 226 Comm
- County Of Winnebago Illinois*
- Cramer-Krasselt Co.
- Deere & Company
- DeKalb Community Unit Schools District No. 428
- Dixon Public Schools District 170
- DuPage County
- DuPage County Cement Masons Welfare Fund ("Board of Trustees")
- EGS Electrical Group LLC
- Egyptian Area Schools Employee Benefit Trust
- Electric Energy, Inc.
- Electrical Insurance Trustees
- Excavating, Grading and Asphalt Craft 731 Health & Welfare Fund
- Exelon Corporation
- Fermi Research Alliance, LLC
- Flexible Steel Lacing Company*
- Fortune Brands, Inc
- Fox River Water Reclamaiton District
- Fox Valley & Vicinity Construction Workers Welfare Fund
- Fox Valley Laborers Health and Welfare Fund
- Galesburg Community Unit School District #205
- Garage Attendants Health & Welfare Fund Local 731 I B of T
- GATX Corporation
- General Board of Pension and Health Benefits of the UMC
- Glenbard Twp. High School District 87
- Glenview School District 34 Cook County
- Grant Thornton LLP
- GROWMARK, Inc.
- Gunite Corporation
- Haldex Hydraulics Corporation
- Harris N.A.
- Health & Welfare Department of the Construction and General Laborers’ District Council of Chicago &
- Health Care Service Corporation
- Henry County
- Hewitt Associates LLC
- Hoffer Plastics Corporation
- Holden Industries, Inc.
- Hospira,Inc.
- Hotel Employees and Restaurant Employees lnt'l Union
- HSBC North America Holdings Inc.
- IBEW Local 701 Welfare Fund
- IBT Union Local No. 710
- Illiana Financial Credit Union
- Illinois Central Railroad Company
- Illinois College
- Illinois Education Association
- Illinois League of Financial Institutions Trust
- Illinois Municipal Retirement Fund (IMRF)
- Illinois State Painters Welfare Fund
- Illinois Tool Works Inc.
- Indian Prairie Community Unit School District 204 Dupage & Will City
- Institute of Gas Technology dba Gas Technology Institute
- International Assn of Heat and Frost Insulators Local 17 Welfare Fund
- Internattonal Assoc. of Heat & Frost Insulators & Allied Workers #81 Welfare Fund
- Iron Workers Local 63 Welfare Funds Welfare Funds
- Iron Workers Tri-State Welfare Plan
- Itasca Fire Protection District No. 1
- Jackson County
- Jim Beam Brands Co.
- John D. and Catherine T. MacArthur Foundation
- Joliet Township High School District No. 204
- KapStone Paper and Packaging Corporation
- Kemper CPA Group, LLP
- Komatsu America Corpo
- Kraft Foods Global, Inc.
- Lake County
- Lake Park High School District 108
- Latin School of Chicago*
- Lincolnway Area Affiliation of Participating School Districts
- Line Construction Benefit Fund
- Livingston County
- Local 705 International Brotherhood of Teamsters Health & Welfare Fund
- Local 734 Welfare Fund
- Local No. 731, I.B. of T., Private Scavengers Heal and Welfare Fund
- Loyola University Chicago
- Lyons Township High School District 204
- Maine Township High School District 207
- McDonald's Corporation
- McDonald's Licensees
- McHenry County College*
- McMaster-Carr Supply Company
- Metropolitan Water Reclamation District of Greater Chicago
- Midwest Operating Engineers Welfare Fund
- Midwestern Teamsters Health and Welfare Fund
- MillerCoors LLC
- Miner Enterprises, Inc.
- Mississippi Valley Insurance Cooperative*
- Mitsubishi Motors North America Inc.-Manufacturing
- MMS USA Holdings, Inc.
- Modern Drop Forge LLC
- Molex Incorporated
- Moline School District No. 40
- Morton Community Unit School District 709
- Motorola, Inc.
- Mt. Carmel Public Utility Co.
- Nalco Company
- Naperville Community Unit School district #203
- Na'tl Council of Young Men's Christian Associations of the USA
- Navistar, Inc.
- NECA-IBEW Local No 176 Health & Welfare Fund ("Board of Trustees")
- NECA-IBEW Welfare Trust Fund
- New Lenox School District 122
- Newell Operating Company
- Nicor, Inc.
- North American Company for Life and Health
- North Central Illinois Laborers' Health and Welfare Fund
- North Suburban Employee Benefit Cooperative
- Northern Illinois & Iowa Laborers' Health & Welfare Trust
- Northern Illinois Benefit Fund ("Board of Trustees")
- Northern Trust Company
- Northfield Township High School District 225
- Northwestern University
- NTN USA Corporation
- Oak Park and River Forest High School District 200
- Olin Community Credit Union
- Orland Fire Protection District
- OSF Healthcare System
- OSF Saint Francis, Inc.
- Oswego Community Unit District 308
- Outokumpu Stainless, Inc.
- Pactiv Corporation
- Painters District Council #30
- Parr Instrument Company
- Passavant Memorial Area Hospital Association
- PCS Administration (USA), Inc.
- PCS Nitrogen, Inc.
- Pechiney Plastic Packaging, Inc.
- Peoples Energy Corporation
- Pipe Fitters'Welfare Fund, Local 597
- Plumbers & Fitters Local 101 Health & Welfare Fund
- Plumbers & Pipefitters Local 422 Health and Welfare
- Plumbers & Pipefitters Local 551
- Plumbers & Steamfitters Local Union #25 Welfare Fund
- Plumbers and Pipefitters Health and Local 553
- Plumbers and Pipefitters Local 23 UA Health & Welfare Fund
- Plumbers Local 360 Health & Welfare Fund
- Plumbers Local 93 Health & Welfare Fund
- Plumbers' Welfare Fund Local 130 U.A.
- Prairie Farms Dairy, Inc.
- PRM Realty Group, LLC
- Public School Teachers Pension and Retirement Fund
- R.R. Donnelley & Sons Company
- Rich Township H.S. District 227
- Robert Bosch LLC
- Robert Bosch Tool Corporation
- Roofers' Unions Welfare Trust Fund
- Rush System for Health
- S&C Electric Company
- Sara Lee Corporation
- Schneider Electric USA, Inc.
- Sears Holdings Corporation
- SEIU Local 73 Midwest Benefits Fund
- Sheet Metal Workers 265 Welfare Fund
- Sheet Metal Workers' Local 73 Welfare Fund
- Sheet Metal Workers Local 91 Health & Welfare Fund
- Sheet Metal Workers Local No 268 Welfare Trust Fund*
- Solo Cup Company
- St. Clair County Illinois
- Staley Credit Union
- State of Illinois - Office of the Comptroller
- Steamfitters Local 439 Health & Welfare Fund
- Structural Iron Workers Local 1 Welfare Fund
- Studio Mechanics Local 476 Health & Welfare Plan
- Suburban Teamsters of Northern Illinois Welfare Fu
- Tellabs Operations, Inc.
- Tenneco Automotive Operating Company, Inc.
- Tetra Pak Materials LP
- The Allstate Corporation
- The Boeing Company
- The Carle Foundation
- The Chicago Public Schools(CPS)
- The City of Joliet
- The City of Lake Forest
- The County of Will in Illinois
- The Jewish Federation of Metropolitan Chicago
- The New York Blower Comipany 36-1545150
- The Options Clearing Corporation
- The Village of Buffalo Grove
- Tootsie Roll Industries, Inc.
- TOWN OF NORMAL
- Township High School District 113
- Township High School District 211
- Township High School District 214
- Tribune Company
- Trustees of the Central States, SE & SW Areas H&W Fund
- UA Local 551 Health and Welfare Fund
- UChicago Argonne, LLC.
- Underwriters Laboratories Inc.
- United Airlines, Inc.
- Unitrin Services Company
- UPM-Kymmene, Inc.
- USG Corporation
- Valley View School District 365U
- Village of Alsip
- Village of Barrington
- Village of Bloomingdale
- Village of Bolingbrook
- Village of Carpentersville
- Village of Deerfield
- Village of Downers Grove
- Village of Evergreen Park
- Village of Forest Park
- Village of Franklin Park
- Village of Glenview
- Village of Gurnee
- Village of Hinsdale
- Village of Hoffman Estates
- Village of Lemont
- Village of Libertyville
- Village of Melrose Park
- Village of Morton Grove
- Village of Mount Prospect
- Village of New Lenox
- Village of Niles
- Village of North Riverside*
- Village of Northbrook
- Village of Oak Brook
- Village of Oak Lawn
- Village of Oak Park
- Village of Orland Park
- Village of Plainfield
- Village of River Forest*
- Village of Romeoville
- Village of Rosemont Illinois
- Village of Schaumburg
- Village of Skokie
- Village of Streamwood
- Village of Tinley Park
- Village of Westmont
- Village of Wheeling
- Village of Willowbrook
- Village of Winnetka
- W.W. Grainger, Inc.
- Wabash Memorial Hospital Association
- Walgreen Co.
- West Chicago Fire Protection District A Municipal Corporation
- White Springs Agriculture Chemicals, Inc.
- Will County Carpenters Local 174 Welfare Fund
- Wisconsin Public Service Corporate
- Wm. Wrigley Jr. Company
- Wolters Kluwer U.S. Corporation
- Yorkville Community Unit School District 115
- Zurich American Insurance Company
*New program participants as of May 24, 2011. List to be updated monthly.
[1] Kaiser / HRET. Employer Health Benefits: 2009 Survey.
[2] Center for Policy and Research. Individual Health Insurance 2009.
[3] Kaiser Family Foundation. 2010. Survey of People Who Purchase Their Own Insurance.