Piedmont Natural Gas Revises Retiree Health Care Plan

Changes reflect Company's effort to provide more health care plan options for retirees

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Sep 09, 2015, 03:25 ET

CHARLOTTE, N.C., Sept. 9, 2015 /PRNewswire/ -- Piedmont Natural Gas (NYSE: PNY) today announced its retiree health care coverage soon will be transitioned from a group coverage policy to individual plans available on public and private health care exchanges. Effective Jan. 1, 2016, retired employees of the Company will have the flexibility to choose the most appropriate coverage for their budget and health needs.

Piedmont will continue sharing health care costs with its retirees by contributing to a tax-free account on their behalf. These funds can be used for premiums and other health care expenses. Piedmont has selected Towers Watson's OneExchange to facilitate retiree access to the various plans offered in the health care marketplace and from aligned insurance carriers.

"Piedmont Natural Gas recognizes the value of providing health insurance to our retirees," said Renee Metzler, Managing Director of Total Rewards for Piedmont Natural Gas. "New developments in the health care market have made it possible to provide our retirees with more choices in premiums and benefit levels, and we're pleased to offer them an individualized approach to health care."

About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial, industrial and power generation utility customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com.

SOURCE Piedmont Natural Gas