White Plains, NY – Thanks to Westchester County’s acceptance into the federal government’s Early Retirement Reinsurance Program (ERRP), nearly $2.5 million of health benefit costs for early retirees and early retirees’ spouses and surviving spouses will be returned to the County coffers.
“Rising health care costs have made it difficult for employers to provide quality, affordable health insurance for workers and retirees, so the ERRP relief stands as significant revenue and resulting cost-savings for Westchester County taxpayers,” said Westchester County Board of Legislators Chairman Ken Jenkins (D-Yonkers).
The ERRP was established in March 2010 when Congress appropriated $5 billion for this temporary program, which covers the group of retirees 55 and older who are not yet eligible for Medicare and meet specific dollar thresholds of health care costs. One of the criteria which the County had fulfilled in order to participate in the Early Retirement Incentive program was the establishment of wellness programs, instituted under the Spano Administration in conjunction with the Westchester County Board of Legislators.
Legislator and Special Committee Co-Chairman Lyndon Williams (D-Mt. Vernon) stated, “The due diligence by the Committee, combined with several initiatives put forth under the previous Administration, has been instrumental in enabling the County to apply for and receive these funds.”
The receipt of nearly $2.5 million will benefit the County in future years. The EERP payments will help reduce the costs to the County related to coverage of early retirees and their families.
“The foresight and initiatives of the County helped us succeed and achieve entrance into this very competitive program,” said Legislator and Special Committee Co-Chair Judith Myers (D-Larchmont). “As a result, Westchester employees are healthier and the County is saving the taxpayers a good sum of money.”