Cost Control for Retiree Benefits at Retiree Benefit Services

Retiree Benefit Services specializes in Retirement Plans, Executive Compensation Plans, Retiree Benefits Services, Long Term Care Insurance, Estate Planning, Consulting

Specialists in Retirement Plans, Executive Compensation Plans, Retiree Benefits Services, Long Term Care Insurance, Estate Planning and Consulting. Call Now 800.891.1680

Cost Control

The Preferred Access Retiree Health Program achieves cost savings in several ways.

A Retiree Strategy
The dramatic impact a defined contribution strategy has on your FASB 106 obligation is no secret. However, without multiple coherent affordable options for your retirees, a defined contribution strategy may result in substantial turmoil. In addition, the complexity, confusion and exorbitant cost of managing multiple plans may erode the advantage of moving to a defined contribution strategy. We work with you to build a coherent benefit offering for your retiree population to simplify your move to a defined contribution strategy. Unlike most product approaches to FASB 106 management, our approach evolves with your company. A defined contribution strategy can reduce the FASB 106 liability by as much as 50% without substantially altering benefits.

Medicare Coordination Method
A Medicare Supplement benefit design can result in substantial cost reductions when compared to more typical coordination of benefits methods such as exclusionary, COB or carve-out plans.

Plan Design
We can help you with plan design issues. We recently developed a plan for an employer with 2000 retirees and dependents. Our plan design actually improved benefits for over 60% of the retirees, yet cut FASB 106 cost by nearly 50% by eliminating "dollar trading coverage’s."

Administrative Cost Reductions
Providing healthcare benefits to your retirees is complicated by the fact that retirees travel frequently, often relocate seasonally, and may even move out of the area at retirement. As a result, companies are faced with the expensive and time-consuming challenge of attempting to coordinate medical coverage for retirees across multiple states. But by moving your company’s fee-for-service retirees to a Medicare Supplement benefit structure, you will be able to greatly simplify the administration of your retiree benefit program.

Automatic Claims Service
Since filing claim forms is frequently listed as the most confusing aspect of a retiree benefit program, the carriers we represent all have automatic claims payment systems in place. This allows the retiree to receive medical care without the burden of filing claims forms. The claims will be handled on a tape-to-tape transfer from the Medicare payer to the insurance company.

Send an email with questions or comments about this web site.
Copyright © 2006 Retiree Benefit Services, Inc.