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Asarco, Retirees Get Nod for Class Deal on Health-Care Coverage

Jan. 25, 2023, 5:05 PM

Copper producer Asarco LLC and a class of about 1,000 retirees received preliminary federal court approval for a settlement allowing retirees to retain their health-care coverage through June 2025.

The settlement allows Asarco retirees who aren’t yet eligible for Medicare to keep their group medical coverage for the next two-and-a-half years. Medicare-eligible retirees will receive annual contributions in their health reimbursement arrangements and can participate in a catastrophic coverage plan covering certain out-of-pocket prescription drug expenses.

Judge Susan R. Bolton of the US District Court for the District of Arizona signed the preliminary approval order Tuesday. She also scheduled an ...