Opeb Services

Managing retiree health care costs has become increasingly challenging for plan sponsors.  Legislative activity, including the Affordable Care Act (ACA) and changes in the GASB’s accounting standards continue to change the landscape and options available to employers.   GRS has helped hundreds plan sponsors navigate issues such as the impact of the Cadillac “excise tax” and implementation of GASB statements 74 and 75.

Our public sector experience, combined with our expertise in retiree health care, has allowed us to retain over 600 OPEB clients.   What makes GRS different from other OPEB consulting providers is our depth of experience with the topic, work, and understanding of the public sector.

Benefit Design

Governments are seeking ways to provide benefits that are economically sustainable and affordable while also providing meaningful value to their retirees. We help governments manage and optimize their OPEB benefits strategy by advising on benefit levels and financing structure. At GRS, our consultants examine each of the areas and work with clients to create solutions that offer the greatest alignment with fiscal and benefit objectives.

Valuations

Our OPEB valuations enable compliance with financial reporting requirements and the development of funding options to help pay plan obligations. We produce OPEB valuations using our state-of-the-art software specifically designed for governmental plans.

Health & Welfare

Through GRS’ Health & Welfare consulting arm, we also provide services that help plan sponsors manage the underlying retiree health care program. For example, many of our OPEB clients procure Medicare Part D attestations, consulting on Employee Group Waiver Programs (EGWP), and insurance premium rate setting services. In addition to these services, GRS Health and Welfare offers a broad range of actuarial and financial analysis, benefit strategy, data management and analytics, and vendor procurement services. Learn more about GRS Health & Welfare.