Xerox Corp. is making changes to its health care benefits—it will eliminate its retiree flex program for Medicare-eligible retirees and their dependents beginning next year.
Originally a fully paid health plan for those who had retired as far back as 1995, the flex program was amended in 2003 to give employees a fixed contribution from the company based on years of service, leaving employees to pick up the balance.
In 2010, Xerox stopped offering Medicare-eligible retirees and their Medicare-eligible spouses and domestic partners an allowance used for supplemental health coverage, but they continued to have access to supplemental coverage at the group rate through Xerox.
The current change is being made as less retirees are using the plan, opting for other marketplace alternatives, the company said.
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