A $5 billion program to help companies such as AT&T Inc. pay health premiums for retirees under age 65 will end because it's almost out of money, the U.S. said.
Claims to the reinsurance program filed after Dec. 31 will be rejected, the U.S. said in a notice today. The Obama administration said in February that money for the subsidies would last through the end of fiscal 2012. A total of $4.5 billion has been paid out as of today, the U.S. said.
The program "has significantly benefited employers across the country," the government said in a statement.
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