Retiree Medical - The Challenge

Providing medical benefits to retirees (and spouses) has become one of the largest corporate expense items due to the fact that people are living longer, the double digit increases in medical costs, the expensive drugs being prescribed and the cost of administering the plan. These plans were typically funded on an on-going basis. With the passage of the new FASB and GASB rules, the magnitude of the liability has been brought to the fore front making it (Other Postretirement Employee Benefit -OPEB) the largest unfunded benefit liability (FAS106) for many mid to large size plan sponsors today. As such, employers are actively seeking out new and innovative strategies and solutions to limit and/or contain benefit cost increases attributable to medical inflation while maintaining access to affordable yet comprehensive medical coverage for retirees.

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The Solution

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