by: Dana M. Dallara
Dietrich & Associates, Inc.; Plymouth Meeting, Pa.
Employers are now realizing that unfunded post-retirement medical liabilities can “break the bank.” The magnitude of unfunded retiree medical liabilities has increased dramatically and has become a significant item on the corporate balance sheets of many employers. In recent years, medical breakthroughs, new cures for diseases, more advanced state-of-the-art diagnostic equipment and medical advancing prescription drugs have all contributed to the significant increases in the cost associated with providing medical coverage to retirees. For all of these reasons the life expectancy of the retiree population has increased. Now that this liability is required to be disclosed on the corporate balance sheet, employers are facing the reality that the longer-term funding of this benefit will have significant economic consequences on their businesses. Commitments and past promises to provide medical insurance are now being questioned and reviewed. The purpose of this article is to examine options available to employers as they try to manage and mitigate this liability.
by: David N. Crapo
Gibbons P.C.; Newark, N.J.
ABI’s Health Care Triage: 2009 conference on June 26, 2009, in Chicago was a great success. Co-sponsored by the Beazley Institute for Health Law and Policy at the Loyola University Chicago Law School, the conference was the first stand-alone health care conference sponsored by ABI. The partnership between Loyola and ABI for the conference proved very fruitful. Indeed, in his welcoming remarks, Larry Springer, the director of the Beazley Institute, welcomed a continued collaboration between ABI and the Beazley Institute. The facility, a 21st Century state-of-the-art courtroom-style educational space, was stunning (not your father’s or mother’s—or even older sibling’s—law school!) and provided a superb venue for the conference.