The U.S. Patent and Trademark Office has granted a patent to a program for funding employee and retiree benefits.
Spring Consultant Group L.L.C., Boston, obtained the patent on a computerized benefits funding program that combines a trust account owned by an employer or employee with at least one life insurance contract or non-cancelable accident and health insurance contract obtained from a captive insurance company.
Trust account assets pay for the life or accident contract, and the captive is at least partly owned by the employer.