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The Handbook of Employee Benefits: Health and Group Benefits 7/E by Jerry Rosenbloom

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CHAPTER 31Welfare Benefits for Retirees

Richard Ostuw

Stuart H. Alden

Most large companies provide life insurance and health care benefits for their retired employees. However, because most of the U.S. workforce is employed by small to medium-sized companies, only a minority of workers are currently eligible for employer-sponsored postretirement welfare benefits. Nonetheless, these benefits are an important component of retiree income and a significant cost to the employers providing them.

Many employers began providing postretirement benefits when their retiree populations were small and the cash costs of the benefits were low. Also, the introduction of Medicare in 1966 encouraged the installation of supplemental medical benefits for retirees. ...

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