Out-of-pocket costs on drugs and medical insurance are the second most costly item for older folks.Read More
The termination, if approved, would shift billions of dollars of promised but unfunded benefits to the Pension Benefit Guaranty Corp., resulting in the biggest loss ever for the agency.Read More
Falling investment returns, rising costs of necessities has pre-retirees cutting back on prescriptions and skipping doctors' appointments, study finds.Read More
The latest information makes clear that employers can—but are not required to—report contributions to health reimbursement arrangements in calculating health care costs.Read More
Under the $5 billion Early Retiree Reinsurance Program set up as part of the health care reform law, approved plan sponsors have received partial reimbursement of claims they have paid.
Federal agency says of the more than $2.7 billion that was paid out through June 30, 45.6 percent went to governmental entities while 36.6 percent went to commercial entities, such as self-funded private employers.Read More
President Barack Obama on Oct. 21 will sign trade legislation that also will boost federal health insurance premium subsidies for employees who lose their jobs because of foreign competition and older retirees in failed pension plans, the White House announced Oct. 18.Read More
The key difference between the Kaiser Family Foundation and Aon Hewitt surveys is that the KFF survey included more fully insured plans, 40 percent, and more small and midsize firms, 85 percent, with fewer than 5,000 workers. More than 75 percent of the data from the Aon Hewitt survey was collected from large, self-funded employers with employee populations of more than 10,000.
General Motors has agreed to retain or create 6,400 jobs as part of $2.5 billion in planned product and plant investments under a new labor accord with the UAW. In a move to encourage GM to add jobs, the union and automaker negotiated new buyout offers of $10,000 to $65,000 to encourage long-time workers to retire and be replaced with lower-paid, entry-level workers.