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What are Some of the Options for Funding Retiree Medical Benefits?

Source: Financial Executives International TV

MullinTBG
Kevin Bachler, Senior Vice President

Runtime: 7:23

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Key Takeaways:

  1. Among the S&P 500, the aggregate unfunded liability for other post employment benefits (OPEB), which consists primarily of retiree medical expenses, is $293 billion.
  2. Retiree medical benefit funding options include:
    • Captive Insurance Companies
    • 401(h) Account
    • Health Reimbursement Arrangement
    • Health Savings Account
    • Voluntary Employee Beneficiary Association
  3. Many companies are opting to fund retiree medical benefits with a Voluntary Employee Beneficiary Association (VEBA). A VEBA is typically structured as a tax-advantaged trust. Contributions are tax deductible when made subject to limits under IRC 419A.
  4. Companies with at least $25 million in available funding are best positioned to take advantage of a VEBA.

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