Spotlight on Retiree Health Care Benefits for State Employees in FY 2015


Summary:

The brief examines the finances of the health insurance benefit plans offered by state governments to retired employees in all 50 states, as part of an ongoing NASRA/SLGE series.

Author(s):
Alex Brown, with contributions from Joshua M. Franzel, PhD and Lola Oduyeru
Publication date:
May 2017
Filed under:
Research Studies
Key findings:
Key findings include:
  • Nearly every state and most local governments provide access to health benefits to retired employees and, in most cases, this coverage includes spouses and dependents;
  • Thirty-one states hold approximately $41 billion in assets to pay for future retiree health benefit costs;
  • The median state retiree health unfunded actuarial accrued liabilities is approximately $2.7 billion, and the mean average is just over $12 billion; and
  • Ten states - New Jersey, Texas, New York, California, Illinois, North Carolina, Connecticut, Pennsylvania, Florida, and Massachusetts - are responsible for $451 billion, or nearly 77 percent of the aggregate state retiree health unfunded actuarial accrued liabilities.
Download publication:
RHC Brief Final