Guest skc Posted September 2, 2008 Posted September 2, 2008 My client tells me he has friends funding long term healthcare premiums through their DB plans. Doesn't seem to be feasible to me. Any comments? Thank you.
WDIK Posted September 2, 2008 Posted September 2, 2008 I believe that IRC 401(h) allows a pension plan to provide health insurance for retired employees and their families. ...but then again, What Do I Know?
GBurns Posted September 2, 2008 Posted September 2, 2008 What does your client mean by "long term healthcare premiums" ? Health insurance premiums for the long term as in for a long time ? Or Long Term Care insurance (LTC or LTCI) premiums ? LTC (LTCI) is not healthcare. It could be that your client was mis-told by his friends. It is always diificult to get an answer if the info was bad to begin with. George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
Guest skc Posted September 2, 2008 Posted September 2, 2008 Thanks for the input and sorry about the confusion. He is talking about Long Term Care insurance which I believe cannot be funded through the DB Plan correct.
GBurns Posted September 3, 2008 Posted September 3, 2008 Retiree medical and long term care costs can be funded with excess pension plan assets. I suggest that you use experienced competent help for proper design. George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
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