Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance

Raytheon To Offer Defined Contribution Health Plan

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Oct. 1, 11:15 a.m. – The Raytheon Company, Lexington, Mass., has agreed to offer a defined contribution health insurance program from Definity Health, Minneapolis, to 26,000 employees in Texas and Arizona starting in January.

Employers participating in the Definity program contribute a fixed amount to a health account for each employee and also buy high-deductible major medical coverage.

Employees can use the account assets to cover the cost of routine expenses and the major medical insurance for catastrophic expenses. Employees who stay healthy can keep the assets left over in the personal health account.

Other large companies offering the Definity program include Textron Inc., Providence, R.I., and Aon Corp., Chicago.


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.