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System for funding, analyzing and managing health care liabilities

  • US 5,136,502 A
  • Filed: 10/02/1991
  • Issued: 08/04/1992
  • Est. Priority Date: 10/02/1991
  • Status: Expired due to Term
First Claim
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1. A retiree group health care benefits computer system, that administers said group health care benefits for at least one employer, on behalf of a plurality of employees of said at least one employer, who are to receive payments for their health care, said computer system comprising:

  • accounting means for providing accounting evaluations of said health care benefits system;

    a VEBA trust administering means, including;

    employer contribution limit determining means for analyzing and computing said at least one employer'"'"'s qualified asset account limit contribution to said VEBA trust, wherein said qualified asset account limit includes a qualified direct cost which is the aggregate amount that is allowable as a deduction if said health care benefits are paid on a current basis, a qualified asset account amount which involves the annual additions to be set aside for future medical payments that are incurred but are unpaid including claims incurred but not reported and claims reported but not paid, and an after-tax income of said VEBA trust;

    selecting means for selecting certain individuals from said plurality of employees and for determining a policy value for each of a plurality of life insurance policies covering the lives of said selected certain individuals in order to fund a pooled liability of said group health care benefits of said plurality of employees, wherein total premium costs for said plurality of life insurance policies do not substantially exceed said qualified asset account limit contribution;

    purchasing means for procuring said plurality of life insurance policies;

    collecting means for collecting death benefit proceeds of said purchased plurality of life insurance policies; and

    paying means for paying said group health care benefits for said plurality of employees incurring health care costs from said collected death benefit proceeds from said individual life insurance policies for said certain individuals; and

    investment means for investing premiums of said procured life insurance policies in at least one of a plurality of investment vehicles, said investment vehicles being manages from within a life insurance company and/or from outside said life insurance company, in order that said at least one investment vehicle produces sufficient cash build up to cover said procured life insurance policiesmeans for updating keyword modules by appending new words at an end of the fixed order of some but not necessarily all of the plurality of language sub-tables and corresponding keyword modules such that when said language conversion means searches a keyword module in the fixed order, the new words are searched for last and when said language conversion means determines that the input keyword does not exist, the input keyword has not been appended as a new word and the default data is retrieved from the default data module to produce the output language data.

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