Thursday, January 23, 2014Tweet
[IWS] EBRI: “The Cost of Spousal Health Coverage,” and “The Role of Social Security, Defined Benefits, and Private Retirement Accounts in the Face of the Retirement Crisis” [23 January 2014]
IWS Documented News Service
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
Employee Benefits Research Institute (EBRI)
EBRI NOTES, vol.35, no. 1
"The Cost of Spousal Health Coverage," and "The Role of Social Security, Defined Benefits, and Private Retirement Accounts in the Face of the Retirement Crisis" [23 January 2014]
[full-text, 24 pages]
Press Release 23 January 2014
Spousal Coverage Shifts Could Have Unexpected Cost Consequences
WASHINGTON—Companies looking to save health costs by requiring working spouses to get health
insurance through their own employer find the move has some unexpected consequences, according to a
new study by the nonpartisan Employee Benefit Research Institute (EBRI).
The federal Patient Protection and Affordable Care Act (PPACA) requires that employers with 50 or
more workers provide health coverage to workers and dependent children until they reach age 26. It does
not, however, require employers to provide health coverage to spouses, whether or not they are eligible
for other health insurance.
The new EBRI analysis, which quantifies the cost of spousal health coverage, finds that spouses, on
average, cost more to cover than otherwise comparable policy holders—which makes them a target for
employers looking to control their health benefit costs.
Press Release 22 January 2014
Can Social Security and 401(k) Savings Be "Enough"?
WASHINGTON—Current levels of Social Security benefits, coupled with at least 30 years of 401(k)
savings eligibility, could provide most workers with an annual income of at least 60 percent of their
preretirement pay on an inflation-adjusted basis, according to a new analysis by the nonpartisan
Employee Benefit Research Institute (EBRI).
Specifically, assuming current Social Security benefits are not reduced, EBRI found that between 83 and
86 percent of workers with more than 30 years of eligibility in a voluntary enrollment 401(k) plan are
simulated to have sufficient 401(k) accumulations that, combined with Social Security retirement
benefits, will be able to replace at least 60 percent of their age-64 wages and salary on an inflationadjusted
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Links to this post: