ACCT 309 4-1 Discussion Postretirement Benefits.docx - 4-1 Discussion Postretirement Benefits Other postretirement benefits(OPRBs which include all

ACCT 309 4-1 Discussion Postretirement Benefits.docx - 4-1...

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4-1 Discussion Postretirement Benefits Other postretirement benefits (OPRBs), which include all forms of benefits provided to former employees after their retirement, other than pensions (Whlen, 2018). In addition to this, there are three common basic insurances are offered by employer, which are health care, life insurance, and disability insurance. My discussion focuses on accounting for healthcare benefits because they usually are the largest dollar amount whether in my homeland country or United States. The table is the similarities and differences of Health Insurance and Pension as below. Postretiremen t benefit Similarities Differences Health Insurance 1. Pensions and OPRBs (health insurance) are both postretirement benefits. 2. Pensions and OPRBs (health insurance) are both benefit that will help employers attract and retain a quality workforce. 3. Pensions and OPRBs (health insurance) are a large portion of two standards are similar in concept and mechanics.
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