Employee Benefits:

Financing Health Benefits of Coal Industry Retirees

HRD-92-137FS: Published: Jul 22, 1992. Publicly Released: Jul 22, 1992.

Additional Materials:

Contact:

Office of Public Affairs
(202) 512-4800
youngc1@gao.gov

Pursuant to a congressional request, GAO provided information regarding proposed legislation for coal industry retirees' health benefits and existing pension trusts, focusing on: (1) the characteristics of the trusts' beneficiaries, (2) the benefits provided, and (3) the present and projected financial condition of the trusts.

GAO found that: (1) there were deficits in the industry's pension and benefits trusts, which result in increased contribution rates and could reduce access to benefits; (2) there were over 116,000 beneficiaries enrolled in the trusts; (3) many of the beneficiaries' employers are either no longer in business, their business status is not known, or the company is unidentifiable; (4) the trusts provide inpatient and outpatient hospital benefits, primary care benefits including a $5 copayment for physicians visits up to $100 per year, low prescription drug copayment benefits, and other specialized benefits; (5) reenrollment and recertification would not identify a significant number of ineligible beneficiaries; (6) health benefits for beneficiaries' children ends at 22 years of age; and (7) the funding formula for the trusts is based on the employee's work hours, with additional contributions coming from employers through coal tonnage purchases from other operators.

Dec 17, 2014

Nov 13, 2014

Jul 23, 2014

May 15, 2014

Apr 9, 2014

Mar 5, 2014

Jan 23, 2014

Dec 20, 2013

Dec 6, 2013

Dec 2, 2013

Looking for more? Browse all our products here