AMEX Unveils Health-Care Cost Seminar

October 8, 2003 ( - American Express Retirement Services has expanded its Financial Education and Planning Services program to cover rising health-care costs and the financial constraints this places on participants and employers alike.

The new seminar – Rising Health Care Benefit Costs: The Personal Financial Impact – is being offered as a communications tool for companies to see the potential impact the costs increases are having on other employee benefits programs. Further, the seminar acts as a source for financial education and alternatives for employees to deal with the rise in health-care costs without cutting into their retirement savings, according to a news release.

Included in the seminar:

  • factors contributing to the rise in health-care costs
  • challenges employers and benefit managers face in managing these costs
  • expected financial impact to both employers and employees
  • new health-care pricing and benefit initiatives
  • how employees can help mitigate the continued rise in health-care costs
  • impact of health-care costs on retiree benefits or funding health care while in retirement
  • financial steps employees can take to help manage these increases and plan for the future.

“We’re seeing large numbers of employers that have reached the point where they will need to share these cost increases with their employees in order to operate and maintain profitability in their businesses going forward,” said Rusty Field, vice president, American Express Financial Education and Planning Services.  “As with employers, the financial impact to employees’ personal economies could be significant and unexpected, and may prompt people to make short-sighted financial choices that could affect their future savings.”

The new seminar is available now to American Express’ financialeducation clients, as well as 401(k) retirement plan services clients.