Creative ways for state and local governments to keep the promise of retiree health care.
Ask public sector employees why they chose a government job, and many will note the expectation of a stable pension and retiree health benefits.
But the percentage of public sector retirees who receive these benefits is shrinking. Five years ago, 83% of state and local governments provided retirees health care coverage; today it’s 68%. And retirement without health care isn’t very secure.
We’re helping public sector plan sponsors make sense of the options out there when it comes to their retiree population’s health care benefits — from Group Medicare Advantage Plans to individual Medicare marketplaces (also known as Medicare exchanges) to health reimbursement arrangements — and how they can manage change and help retirees navigate choice.
More information for public sector plan sponsors can be found on the Willis Towers Watson website.