WASHINGTON, Aug. 31 /PRNewswire-USNewswire/ -- Secretary of Labor Hilda L. Solis today issued the following statement on the announcement of the first round of applicants accepted into the Early Retiree Reinsurance Program, an important component of the Affordable Care Act:
"In these tough economic times, the combination of rising health care costs and lower revenues has made it increasingly difficult for private companies, unions, nonprofits, religious organizations, and state and local governments to provide quality and affordable health coverage for their retirees. And, as Labor Day approaches, I want to recognize those employers who are committed to maintaining adequate benefits for their workers and retirees in spite of these challenges.
"Access to affordable health insurance is a not only a key component of retirement security but an important aspect of ensuring good jobs for everyone.
"I commend Secretary Sebelius for her leadership in this area as well as the private companies, unions, nonprofits, religious organizations and governments that successfully applied for grants that will make health insurance more affordable for their retirees."
For more information about the Early Retiree Reinsurance Program established by the Affordable Care Act, visit the U.S. Department of Health and Human Services website at http://www.healthcare.gov/news/factsheets/early_retiree_reinsurance_program.html.
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SOURCE U.S. Department of Labor