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Courtney Stands Up for Early Retiree Reinsurance Program

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Published on Apr 14, 2011

On April 14, 2011, Congressman Joe Courtney, during consideration of H.Con.Res. 35, regarding a change to the Affordable Care Act, talked about the importance and popularity of the Early Retiree Reinsurance Program. He highlighted the program�s importance to companies hiring young people and creating jobs.

TRANSCRIPT:

Mr. Speaker. Among the many programs which others have talked about that would be blown up with this measure, the Early Retiree Reinsurance Program which is one of the most successful aspects of the health care law, will be blown up. Over 5,000 employers all across America, over half the Fortune 500 companies, like Coca-Cola, General Electric, UTC, General Dynamics have all signed up with this program, which using the same principles as flood insurance is buttressing and strengthening early retiree benefits which have been collapsing over the last 20 years. These are the companies that will go out and hire people, particularly young people because early retirement allows their work force to actually have its natural change so that young people can find jobs. The economy created 200,000 jobs last month. It's because of programs like the early retiree reinsurance program which the health care law created - we should not end that program by passing this resolution. These employers have signed up in good faith and that good faith deserves our commitment to follow through on the program that this country offered them. That's a strategy - that's a winning strategy to create jobs for this country.

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