Some of Central Iowa’s largest employers are among the latest organizations to be accepted into the Early Retiree Reinsurance Program, a component of the federal health reform legislation enacted in March. The federal program, administered by the U.S. Department of Health and Human Services, will provide up to $5 billion in financial assistance to help employers and labor unions maintain health insurance coverage for early retirees who are not yet eligible for Medicare.

In Iowa, 54 organizations – including eight of the 24 Iowa Business Council member organizations – have been accepted into the program so far. Among the most recent to gain acceptance into the program are:

• Aviva USA

• Des Moines Independent Community School District

• Des Moines Water Works

• Federal Home Loan Bank of Des Moines

• Iowa Bankers Benefit Plan

• Iowa Department of Administrative Services

• Iowa State University

• Veridian Credit Union

Beginning this fall, the program will begin to provide reimbursement to organizations for medical claims of early retirees and their spouses, surviving spouses and dependents. The reinsurance covers 80 percent of the cost of claims of high-cost retirees and their families. Organizations can use the savings to pay their health-care costs, provide premium relief to workers and families, or both. The program ends on Jan. 1, 2014, when the law requires state health insurance exchanges to be operating.

Employers with self-funded and insured plans can apply, including private companies, state and local governments, nonprofits, religious organizations, unions operating employee benefit plans and other employers.

Applications are available online at www.hhs.gov/ociio. To view a complete list of participating companies, visit www.HealthCare.gov.