International Business Machines Corp., which is moving benefits for Medicare-eligible retirees to a private health exchange, says its contribution to their health care would be “consistent” with previous years.

As long as retirees enroll with the private insurance exchange, IBM will subsidize their health care premiums at a similar level, the company says in a letter obtained by Bloomberg. The money will come in the form of a health reimbursement account, IBM says.

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