Aetna Inc. and the HR Policy Association have agreed to offer retiree health care benefits to employers that are HRPA members.
The program, aimed at controlling health care costs, will offer fully insured plans for retirees who are over 65 as well as younger retirees, according to Aetna, Hartford.
Retired employees will have access to Aetna group retiree health insurance plans regardless of health at the time of retirement.
The HRPA, Washington, represents human resources executives from 250 large U.S. corporations that employ a total of 12 million and provide benefits for 2.5 million retirees.
Accounting firm PricewaterhouseCooper L.L.P., New York, is helping Aetna and the HRPA create the retiree health insurance program.
Options for retirees younger than age 65 consist of 2 health savings account designs and 2 traditional major medical plans with comprehensive catastrophic coverage.