Business Roundtable Statement on the Early Retiree Reinsurance Program

WASHINGTON--(BUSINESS WIRE)-- “From the beginning, Business Roundtable has championed efforts to ensure employers can continue to offer quality, affordable health plans to their employees. Today, the Obama Administration has recognized the commitment of the companies that offer retiree health coverage. The Early Retiree Reinsurance Program makes health benefits more affordable for employers and early retirees and their families.

“While health care costs are the number one cost pressure facing our members, we are committed to providing coverage to our more than 35 million employees, retirees and their families. The Early Retiree Reinsurance Program reduces costs and allows many of our member companies to continue providing this critical coverage,” said John J. Castellani, President of Business Roundtable.

Business Roundtable is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 12 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay more than 60 percent of all corporate income taxes paid to the federal government. Annually, they return more than $167 billion in dividends to shareholders and the economy.

Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with more than $111 billion in annual research and development spending – nearly half of all total private R&D spending in the U.S.

Business Roundtable companies provide health care coverage to more than 35 million employees, retirees, and their families.

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Business Roundtable
Kirk Monroe, 202-496-3269

KEYWORDS:   United States  North America  District of Columbia

INDUSTRY KEYWORDS:   Seniors  Health  Public Policy/Government  Healthcare Reform  Congressional News/Views  Other Health  Public Policy  White House/Federal Government  Professional Services  Finance  Insurance  Other Professional Services  Consumer  General Health  Managed Care