AmWINS Introduces Hybrid Strategy for Addressing Retiree Health Benefit Obligation
Retiree Benefit Choice Provides a
“No company should turn its back on employees who dedicated their lives to the company’s success and now are enjoying retirement,” said
Like other products known as Medicare Exchanges or
For those retirees who want to make a change, guidance is available through both one-on-one call center support and online resources. Retirees are not abandoned to struggle with comparing complex insurance products on their own.
In addition, while having access to the flexibility offered by individual plans, retirees pay composite, national-based rates that are not dependent on their age, gender, zip code, health condition or weight/smoking status. Under Retiree Benefit Choice, plans can be arranged with a multi-year guarantee to provide pricing stability.
From the employers’ perspective, all of the filings and audits required of ERISA plan sponsors disappear, and the administrative functions of retiree health benefits are shifted to AmWINS. The retiree subsidy becomes a current expense rather than a future obligation that must be reflected on the balance sheet.
“Hybrid cars that combine batteries with gasoline engines have caught on because they offer low-cost mileage and a longer driving range than batteries alone,” said Fleet. “Just like those cars, Retiree Benefit Choice is a hybrid that makes sense for both the employer and the retiree – and it’s a better way to take care of loyal workers than to cut them loose to figure out health insurance options on their own.”
For more information about Retiree Benefit Choice, visit the AmWINS Group Benefits electronic press kit at amwinspresskit.com. Also, follow
About AmWINS Group Benefits
AmWINS Group Benefits is a leading wholesale broker of comprehensive group insurance programs and administrative services. Partnering with benefit professionals and insurers, AmWINS Group Benefits empowers the retail broker and their clients by developing, distributing and administering niche insurance products and services. Its parent company, <org>AmWINS Group, Inc. is a leading insurance wholesale distributor of specialty insurance products and services. AmWINS Group Benefits is headquartered in
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Source: AmWINS Group Benefits
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