Managing retiree medical costs: responding to FAS 106
Article Abstract:
Employers must comply with Financial Accounting Standards No. 106 (FAS 106) in the preparation of retiree health plans. The cost of these benefits must be reported in the company's balance sheets as a liability. To ensure compliance with FAS 106 and to minimize expenses, companies must prepare a program which integrates a cost-effective plan design, financial planning, managed-care techniques, accounting guidelines and complete records. Companies should present the plan to their employees after reviewing it to prevent misunderstanding.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1992
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Options for reducing retiree medical expenses
Article Abstract:
The FASB issued FAS 106 which required firms to use the accrual method in accounting for retiree medical benefits. Firms must include postretirement medical benefits in their balance sheets as a liability. Employers who choose to reevaluate their health care plans should consider the current program's financial viability, measure it against their retiree benefit and income standards and compare their system with those of other employers.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1992
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Integrated disability/medical management
Article Abstract:
The Integrated Disability/Medical Management program helps organize disability claims, workers' compensation and medical plans by coordinating with the employee's supervisor, medical providers and rehabilitation specialists. It seeks to improve return-to-work results, reduce workflow disruption and improve employee health. However, program implementation will be effective only if supported by senior managers and supervisors.
Publication Name: Journal of Compensation and Benefits
Subject: Insurance
ISSN: 0893-780X
Year: 1996
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