International Business Machines plans to move about 110,000 retirees off its company-sponsored health plan and instead give them a payment to buy coverage on a health-insurance exchange.
A Health Insurance Exchange (HIX) is a federal or state-regulated marketplace/platform that allows small businesses and individuals to shop for health insurance plans; it allows them to compare various standardized plans and choose the one that suits their specific needs. Federal subsidies are available for the purchase of such plans through an exchange.
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