Patent ID: 8145510

Claim:
A computer system comprising: a processor; and a storage device in communication with said processor storing instructions adapted to be executed by said processor to: evaluate an alternative benefits funding arrangement in which funds are contributed by an employer to a VEBA trust and at least a portion of the funding is used to purchase at least one life insurance contract or non-cancellable accident and health insurance contract from a captive insurance company or a non-captive insurance company and then reinsuring at least a portion of the life insurance contract or non-cancellable accident and health insurance contract if purchased from said non-captive insurance company by the captive insurance company by: calculate what portion of said funding to use to purchase said at least one life insurance contract or non-cancellable accident and health insurance contract; determine, based at least on benefits liability of said employer and assets of said employer, whether to purchase said at least one life insurance contract or non-cancellable accident and health insurance contract from a non-captive insurance company or a captive insurance company; and determine what portion of said at least one life insurance contract or non-cancellable accident and health insurance contract purchased from said non-captive insurance company should be reinsured by said captive insurance company; wherein said VEBA trust is the beneficiary of said at least one life insurance contract or non-cancellable accident and health insurance contract; and wherein said captive insurance company is an insurance company that insures a risk of said employer who is not solely in the business of insurance.