The Crisis in Retiree Health Benefits

• DOI: 10.1300/j031v02n03_12
• Publication Date: 2005-08-31T15:14:16Z
• Authors: James A. Bergman
• Keywords: 03 medical and health sciences; 8. Economic growth; 1. No poverty; 0305 other medical science; 3. Good health

Over 7 million retirees currently are covered by employer-sponsored health benefits plans in which the employer contributes all or a portion of premium cost. Almost one-third these under age 65 and therefore lack Medicare coverage. The annual cost to employers for this coverage is now $9 billion expected be $22 20 years. However, inflation care costs, recent court decisions, aging America, major proposed accounting rule change Financial Accounting Standards Board have combined produce "crisis retiree benefits" business sector. As result, rapidly redesigning benefit shift future increases their retirees. Until now, network has been largely oblivious transformation financing. Yet, "crisis" begs public/private sector dialogue partnership, White House Conference on Aging could forum dialogue.