Retiree Health Benefits at Selected Government Contractors

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Correspondence issued by the General Accounting Office with an abstract that begins "Since World War II, some employers have voluntarily sponsored postretirement health plans as a benefit to their employees. According to government sources, these health plans constitute the primary source of health coverage for retirees aged 55 to 64 and supplemental coverage for nearly one third of retirees aged 65 or older with Medicare coverage. However, with costs already amounting to hundreds of millions of dollars for large employers and the baby boom generation nearing retirement age, employers are taking actions to control the costs of providing these benefits. ... continued below

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United States. General Accounting Office. February 27, 2003.

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Description

Correspondence issued by the General Accounting Office with an abstract that begins "Since World War II, some employers have voluntarily sponsored postretirement health plans as a benefit to their employees. According to government sources, these health plans constitute the primary source of health coverage for retirees aged 55 to 64 and supplemental coverage for nearly one third of retirees aged 65 or older with Medicare coverage. However, with costs already amounting to hundreds of millions of dollars for large employers and the baby boom generation nearing retirement age, employers are taking actions to control the costs of providing these benefits. In response to concerns that government contractors may be receiving underserved financial benefits by reducing retiree health benefits that were paid for under government contracts, we reviewed (1) what changes, if any, government contractors had made to their retiree health benefit plans and (2) the extent to which government agencies oversee retiree health benefit costs."

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Government Accountability Office Reports

The U.S. Government Accountability Office (GAO) is an independent, nonpartisan agency that works for the U.S. Congress investigating how the federal government spends taxpayers' money. Its goal is to increase accountability and improve the performance of the federal government. The Government Accountability Office Reports Collection consists of over 13,000 documents on a variety of topics ranging from fiscal issues to international affairs.

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  • February 27, 2003

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  • June 12, 2014, 7:50 p.m.

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United States. General Accounting Office. Retiree Health Benefits at Selected Government Contractors, text, February 27, 2003; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc302779/: accessed October 18, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.