Patterson Proposes to Increase Taxes on Self Insured Health Plans and HCRA Assessments

Governor Patterson’s proposed State Budget will impose substantial additional costs to your employee and retiree health plans. These additional taxes and assessments will impact all plans including private business, schools, colleges & universities, hospitals and union funds.

This proposed tax would impose a $1 assessment per claim over $20 that is processed under a self insured program including prescriptions drugs and a 240 million increase in the HCRA “covered life” assessment paid by all entities providing health insurance.

The Governor has chosen a bad time to tax businesses that provide healthcare to employees and families to help bridge the states financial crisis. We need to get this message to him that these proposals would be devastating if they are not eliminated from the final budget.

Call your legislators in Albany now as they are working hard on this budget and need to hear from all businesses now on eliminating these taxs

Retiree Healthcare Solutions and GASB 45

Cook Hall & Hyde is committed to designing creative programs to assist the public sector in managing pre and post 65 retiree costs.  These costs have become and will continue to be significant given the impact of GASB 45. It is important that public employers assess the impact of any unfunded liabilities on their current and future finances so steps can be taken to mitigate this impact.

CHH has partnered with Aetna to provide and develop enhanced alternatives for pre and post 65 retiree populations that offer equal too benefits and deliver saving today and into the future given the GASB 45 obligation. 

 

RHA Presentation

New Wave Retirement Planning

Employee Benefits News, October 2007 issue has an interesting and promising article promoting HSAs as a way to supplement retiree healthcare coverage. 

 Click here for more information.

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