IBM Moves Retirees to Insurance Exchange as Costs Rise

International Business Machines Corp., faced with rising health care costs for retirees, says it will move them to a health exchange where they may have cheaper plan options.

The move affects about 110,000 Medicare-eligible retirees, Doug Shelton, an IBM spokesman, said by telephone. The company has chosen the Extend Health exchange by Towers Watson, the country’s largest private Medicare exchange, to provide more options for prescription drug, dental and vision care, the Armonk, New York-based company said in a statement e-mailed today.