McClatchy to Shut Down Retirees’ Health-Care Plan by End of 2014
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McClatchy Co., owner of 30 daily U.S. newspapers, plans to end its health-care plan for retirees at the end of next year, joining a wave of companies reassessing their coverage as the new Affordable Care Act goes into effect.
As the company’s coverage ends, retirees will have to choose between purchasing insurance from exchanges, which are being set up as part of President Barack Obama’s health-care legislation, or pay a $95 tax penalty for failing to buy a health plan.