Feds: 2 Hawaii groups join reinsurance program

HONOLULU (AP) - The U.S. Department of Health and Human Services says Bank of Hawaii has been accepted into the Early Retiree Reinsurance Program.

It said Monday that the Plumbing and Mechanical Contractors Association of Hawaii Local 675 Health & Welfare Fund has also been accepted. The two join the Hawaii Medical Service Association and The Queen's Health Systems in the program.

It provides $5 billion in financial assistance to employers and unions to help them maintain coverage for early retirees ages 55 and older who are not yet eligible for Medicare.

Businesses and other employers and unions that are accepted into the program will receive reimbursement for medical claims of their early retirees and their spouses, surviving spouses and dependents.

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