<p>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.</p><p>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.</p><p>"The aggregate amount of IBM's contribution to benefits will be consistent with previous years," the Armonk, N.Y. - based company says in the letter, signed by Chief Health Director Kyu Rhee. "IBM will communicate your personal HRA contribution amount starting in early October."</p><p>The company said last week that it chose to move 110,000 retirees to an Extend Health exchange by Towers Watson, the country's largest private Medicare exchange. In the August letter, IBM told the former employees that they will be able to keep their current health providers and prescriptions in most cases.</p><p><a href="http://www.healthdatamanagement.com/news/IBM-defends-moving-retirees-to-private-HIX-46629-1.html">Keep reading...</a></p>