National Seniors Coalition Provides Unique Solution to Enable Large Employers to Shift Retiree Health Expenses to a Third Party : Insurance News Onlypunjab.com- Insurance News

National Seniors Coalition Provides Unique Solution to Enable Large Employers to Shift Retiree Health Expenses to a Third Party
Publish Date : 2/15/2007 7:41:00 PM Source : Insurance News Onlypunjab.com

National Seniors Coalition (NSC) announced the formation of a new solution for large employers who are coupled with the rising expense of group retiree health programs.
Many of the nation's largest employers are buckling under the strain of carrying the future liability of health expenses of a retired workforce. Employers want to provide a solution for loyal workers, but are faced with the possibility of bankruptcy as a result of escalating medical expenses.

According to Brad Hill, President of National Seniors Coalition (NSC), "Most employers want a solution which honors well-intended commitments, but can still release them from future FASB and GASB standards. With this program, NSC can work with employers who have a PRE and POST retiree medical problem and develop customized solutions which fit their needs. Employers can get out of the business of arranging and administering a retiree medical plan and outsource that function to the program established by NSC. We have already partnered with several national carriers and have started accepting business. Brokers and consultants are welcomed."

The NSC has retained Russell Greenblatt of the law firm Katten Muchin Rosenman, LLP to assist with the establishment of employee benefit trusts through which retirees of individual companies (or particular industries) will be able to purchase insurance coverage. Russ was the principal author of the Treasury Regulations governing VEBAs while with the Office of Chief Counsel to the IRS.

About National Seniors Coalition

NSC offers long-term solutions to employers, unions and municipalities struggling to balance retiree health commitments and costs. Please contact Brad Hill, President, NSC, at (312) 642-4520 or 2 East Erie Street - Suite 2709, Chicago, IL 60611. Please direct email to bradhill @ nationalseniors.com.

Press Contact: Brad Hill, National Seniors Coalition
Direct Line: 312-642-4520

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