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Stumbled on this forum, what a great wealth of wisdom!

I'm a union rep and we are considering starting a healthcare plan for our members.  Instead of the various employers having their own healthcare plans for our members, the employers are going to give us the money and we will provide the healthcare plan for our own members.

I believe we will need to start a VEBA and a MEWA, but I am uncertain as to how much we will need to allocate for start-up costs (e.g. legal advice, documents, etc.).  We have 10-15k local union members.  I'm assuming it will cost $500-$1mm to start up and at least 1.5 years before we can go live.  Am I even in the ballpark?  

Anyone know how much it will cost us to get this started?  Any help is much appreciated!

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I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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