Spring Consulting patents benefits funding system

BOSTON—Spring Consulting Group L.L.C. has received a patent for a technique for alternative funding of employee and retiree benefits and benefit plans.

The U.S. Patent & Trademark patent titled “Program for Alternative Funding of Employee and Retiree Benefits” was granted to the Boston-based consulting firm in connection with “a system and method for configuring, optimizing, managing and tracking alternative funding of employee and retiree benefits and benefit plans,” the consultant said in a Tuesday statement.

Spring Consulting said the funding process enables organizations to manage and stabilize benefit plan costs while ensuring coverage for employees and retirees.

In addition to providing strategic consulting services, Spring Consulting works with employers on the use of captive insurance facilities for employee benefits.