Segal Company

Retiree Health

Providing health benefits for retirees presents multiemployer funds with many challenges. Segal can help trustees find solutions that work for both the fund and retirees.

Segal works with a variety of multiemployer plans that offer Medicare and non-Medicare retiree coverage, including prescription drug, dental, vision, and life insurance benefits. Services we provide include:

  • Evaluating alternatives such as retiree self-pay policies, pre-funding retiree health benefits, health reimbursement accounts (HRAs) and other cost-saving measures
  • Implementing a Medicare Advantage Fee-For-Service Arrangement or a Private Fee-For-Service alternative
  • Performing a Medicare Part "D" actuarial attestation and review for creditable coverage
  • Negotiating with carriers regarding the rates and contractual arrangements for all offerings
  • Creating a retiree health strategic plan
  • Designing a plan for retiree prescription drug coverage
  • Assessing the fund's Retiree Drug Subsidy (RDS) savings to see whether the subsidy income meets expectations
  • Evaluating replacing RDS and self-funded prescription drug coverage with a Medicare Part D Prescription Drug Plan (PDP)
  • Preparing applications and assisting with administration of Employer Group Direct-Contract prescription drug plans
  • Conducting SOP 92-6 Valuations Results and Financial Experience and Budget Projections (FEPBs)