Navigation Links
New Report Estimates State Retiree Health Care Liabilities at $558 Billion
Date:7/15/2009

But plans differ greatly from state to state.

WASHINGTON, July 15 /PRNewswire-USNewswire/ -- States have unfunded liabilities for retiree health care of about $558 billion, including for teachers, according to a new report from the Center for State and Local Government Excellence.

"At a Crossroads: The Financing and Future of Health Benefits for State and Local Government Retirees" is the first systematic (entire workforce) assessment of the level of OPEB (other post-employment benefits) liabilities of US states and a sample of localities.

Center for Excellence Executive Director Elizabeth K. Kellar and North Carolina State researchers Richard Kearney, Robert Clark and Jerrell Coggburn will discuss the report in an audio news conference on Wednesday, July 15, 1-2 pm EDT. Dial 1-866-394-4041; enter access code 19720405 when prompted.

Key findings of the report include:

  • State plans differ substantially in their generosity, coverage, and outstanding liabilities.
  • Unfunded actuarial accrued liabilities (UAAL) for many governments are large in absolute value and relative to total state expenditures, debt, and per capita income of the state. For others they are not.
  • Actuarial statements reveal substantial differences in total unfunded retiree health care liabilities. This is a function of work force size, plan generosity, and the portion of health care costs paid by the employer.
  • Most state and local governments, however, have adopted various cost containment, cost shedding, and cost sharing policies, including retiree premium contributions, higher deductibles, and higher co-payments. Some have curtailed benefits for future retirees.
  • Preventive medicine and wellness programs are catching on in the states, but most to date are limited in scope.
  • State and local governments report they are more willing to consider changes in age and/or years of service requirements for retiree health care eligibility.

Read the full report at http://tinyurl.com/atacrossroads

About the Center for State and Local Government Excellence

The Center for State and Local Government Excellence helps state and local governments become knowledgeable and competitive employers so they can attract and retain a talented and committed workforce. The Center identifies best practices and conducts research on competitive employment practices, workforce development, pensions, retiree health security, and financial planning. The Center also brings state and local leaders together with respected researchers and features the latest demographic data on the aging workforce, research studies, and news on health care, recruitment, and succession planning on its website, www.slge.org.


'/>"/>
SOURCE Center for State and Local Government Excellence
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Virginia Tech Report Has National Importance
2. New Study Reports High Injury Rates for Hotel Workers, Even Higher Rates for Women and Nonwhites
3. GAO Report Confirms: Medicare Underpays for Anesthesia Services; Nurse Anesthetists Assure Seniors Access to Safe Anesthesia Care
4. Haemacure Reports Third Quarter 2007 Results
5. Report on patients access to cancer drugs uses flawed methods to reached flawed conclusions
6. Biotech Finishes on a High in August, Burrill Report Says
7. First-Ever List of the 5,000 Fastest-Growing Businesses Reports Total Revenue of $194.5 Billion
8. Consumer Reports Analysis: Drugs for Nerve Pain, Fibromyalgia Effective, But Not Always Best
9. MDS Reports Third Quarter 2007 Results
10. First New York/New Jersey Health Care Report Card Released
11. Authentidate Holding Corp. to Report Fourth Quarter and Fiscal 2007 Year End Results on Thursday, September 13, 2007
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/20/2017)... ... ... Lice Troopers, the lice removal company based in South Florida, has seen ... season. , “It happens every year around this time,” says owner, Arie Harel. ... is the head-to-head gateway that lice need to spread.” , As children return to ...
(Date:1/20/2017)... FL (PRWEB) , ... January 20, 2017 , ... International ... of nutritional and bodybuilding supplements, announced it attended the January ECRM trade show in ... bodybuilder and nutritional scientist who was determined to create a line of products that ...
(Date:1/20/2017)... ... , ... "TransFlare 4K Mystique comes with 44 colorful mysterious transitions that are ... Austin - CEO of Pixel Film Studios. , TransFlare 4K Mystique contains 44 ... flare and light leak transitions have a very high-dynamic range for super smooth falloff. ...
(Date:1/20/2017)... (PRWEB) , ... January 20, 2017 , ... “Mary Magdalene: ... the mysterious life of the woman who witnessed Jesus Christ firsthand. “Mary Magdalene: Grace ... denizen, who spent her career as an educator interacting with countless women who had ...
(Date:1/20/2017)... ... 2017 , ... “Code Word: Chocolate Biscuit”: a biographical account following a man who went on ... of published author, Marlyn Ivey, born in Lynn Haven, Florida and at the age of ... 19 years of age, he joined the Navy and got married right out of boot ...
Breaking Medicine News(10 mins):
(Date:1/21/2017)... According to a new market research report "Life Science Analytics ... (Software, Service), Delivery (On premise, Cloud), End user (Pharmaceutical, Biotechnology, Medical ... is expected to reach USD 24.73 Billion by 2021 from USD ... forecast period. Continue Reading ... ...
(Date:1/20/2017)... -- Research and Markets has announced the addition ... BMP, BUN Creatinine, Electrolyte Testing, HbA1c Testing, Comprehensive Metabolic Panel, Liver ... - 2024" report to their offering. ... The global clinical laboratory testing market ... Introduction of innovative solutions on the grounds of maximum efficiency and ...
(Date:1/20/2017)... BUFFALO, N.Y. , Jan. 20, 2017 /PRNewswire/ ... health programs, has announced the launch of an ... to new guidelines on opioids and helps stem ... Opioids are often prescribed to treat chronic non-cancer ... disease) despite serious risks and lack of evidence ...
Breaking Medicine Technology: