Happy Friday, PLANSPONSOR readers! The interplay between health care and retirement has always been in place—as plan sponsors work to offer good benefits for both within their budgets. Employers still struggle to offer good health benefits to employees, and as fewer employers offer retiree health care benefits, more concern is moving to planning for health care expenses in retirement. Selections in this edition of PLANSPONSOR Weekend address these issues.
The latest report from the Employee Benefit Research Institute says expectations of catastrophic health care expenses in retirement are likely flawed.
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The new approach consolidates all of the critical components of health care into a single integrated solution designed to reduce complexity and save money, the company says.
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Seventy-one percent of small businesses that offered the new qualified small employer health reimbursement arrangement (QSEHRA) in 2017 had not offered health benefits previously, according to “The QSEHRA: Annual Report,” from PeopleKeep, a provider of benefits for small businesses.
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The Insured Retirement Institute found 42% of Baby Boomers have no retirement savings, and industry sources say longevity and long-term care expenses are often not considered when Baby Boomers plan for retirement.
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The firm has agreed to pay $75 million to settle litigation brought by multiple retirement plan participants alleging J.P. Morgan invested its stable value funds in risky assets.
Frustration continues for working individuals 65 and older who are required to stop HSA contributions once enrolled in Medicare, but legislation is pending to fix that.
Members of the Senate Finance Committee voiced frustration that lawmakers have not yet come to a solution to the multiemployer union pension funding crisis.
