RDS Services, LLC Announces Another Massive Federal Subsidy Recovery for the City of Boston Retiree Plan
The National Director of Accounts George Fox is pleased to announce that RDS Services, LLC has recovered more than $2,172,886 in additional Federal Retiree Drug Subsidies for the City of Boston. This Federal Subsidy recovery represents a 12.32% increase in the prior Federal funding received by the City of Boston.
DETROIT, Jan. 9, 2022 /PRNewswire-PRWeb/ -- The National Director of Accounts George Fox is pleased to announce that RDS Services, LLC has recovered more than $2,172,886 in additional Federal Retiree Drug Subsidies for the City of Boston. This Federal Subsidy recovery represents a 12.32% increase in the prior Federal funding received by the City of Boston. Because the recovered funds go directly into the City of Boston General Fund, critical fiscal supports are enhanced for city-wide staffing and taxpayers benefit directly from the subsidy recovery.
In 2003, the United States Congress passed the Medicare Modernization Act (MMA 2003) and with it, the Retiree Drug Subsidy. The "MMA 2003" legislation enabled important financial support to municipal governments and the retiree benefit obligations. Specifically, the law contained an unprecedented effort in Federal subsidy funding to support legacy obligation of municipal governments, Unions and Enterprise employers to fund Retiree Drug benefits, or what is commonly known as "Part D".
The City of Boston provides "Part D" drug benefits to thousands of retirees and relies upon the Federal Retiree Drug Subsidy to offset a large portion of the drug benefit expenditure. In early 2019, the City of Boston employee benefits administrators took the important step of having a thorough audit conducted of the Federal Retiree Drug Subsidy that was being received by the City. The audit serves the best interest of the taxpayers of the City of Boston and illuminates the commitment of the City of Boston's administration to their fiduciary responsibilities on behalf of the people.
The City of Boston engaged RDS Services, LLC, after an extensive and in-depth review of the several vendors who have the capabilities to conduct audits of the Retiree Drug Subsidy. The superior enlargement and recovery capabilities of RDS Services, LLC, in comparison to other pseudo vendors, has enabled the City of Boston to recover more than $2,172,886 in new Federal Retiree Drug Subsidy funding in 2020. Only RDS Services, LLC can conduct the Retiree Drug Subsidy audit of all eligible plan years, because of the superior data management technology, proprietary analytical software capabilities and fully documented subsidy enlargement and recovery performance.
The RDS Services, LLC National Director of Accounts George Fox, in discussing the results of the City of Boston's Retiree Drug Subsidy Reopening on a recent innovation in benefits and Human Resources best practices call stated that:
"Only because Director of Benefits, her Administration, and the Human Resources Department having taken the action of reviewing the prior years of Federal subsidies by RDS Services, LLC, are the taxpayers of the City of Boston being optimally supported by the Retiree Drug Subsidy program. The City of Boston administrative leadership should be praised for their actions of engaging with RDS Services, LLC and commended for their leadership that made this significant recovery of additional Federal funds possible". (George Fox, 2020)
As clearly demonstrated by the recent Retiree Drug Subsidy enlargement and recovery for the City of Boston, Only RDS Services, LLC superior recovery systems, specifically the "Benchmark 360" analysis has the ability to obtain millions of additional dollars in Federal subsidy payments for plan sponsors across the country. The enlargement and recovery of the additional federal funds significantly reduces the drug cost structure of retiree and active employee prescription drug plans. With the potential of lowering the annual cost of drug plans by 10% to 50% of more, only RDS Services, LLC can deliver the critical advantages of the Federal Governments Retiree Drug Subsidy program.
Moreover, only RDS Services, LLC can provide the exclusive Enhanced Care Management Program "ECMP" which adds a Guaranteed 15% in Federal subsidies to retiree plan sponsors Retiree Drug Subsidy funding and can now offset up to 43% of the cost of providing retiree drug benefits.
To find out more, call the RDS Services, LLC National Sales Director, George Fox at (516) 361-9404 or email [email protected] Visit our webpage at http://www.rdsservices.us
RDS Services, LLC is the preeminent Federal Retiree Drug Subsidy Recovery Specialist in the nation with offices based in Troy, Michigan and New York City, New York. To request your plans "Benchmark 360" report on how much additional drug subsidy your retiree plan is due, or RDS Effect, RDS Plan 360 report, or any of the other reports available from RDS Services, LLC, please call to speak with George Fox, National Sales Director or visit http://www.RDSServices.us for more information. RDS Services, LLC was founded by Mark Manquen, a Certified Public Accountant who also holds a Master of Science in Taxation.
Inquires: Patty Kanaras, Director of HR (248) 878- 2162 http://www.rdsservices.us
RDS Services, LLC
50 West Big Beaver, Suite 220
Troy MI 48084
(516) 361-9404
[email protected]
Media Contact
George Fox, RDS Services, LLC, 1 (516) 361-9404, [email protected]
SOURCE RDS Services, LLC
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