Of the $240,000 needed to cover a retired couple's health care expenses, Fidelity estimates 32 percent will go toward paying Medicare Part B and Part D premiums; 45 percent will be consumed by expenses not covered by Medicare; and 23 percent will be spent on out-of-pocket prescription drug expenses.
Under the ERRP, early retiree health care sponsors are reimbursed for 80 percent of claims—up to $90,000—after a participant incurs $15,000 in expenses.Read More
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