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August 20, 2014          Get Retirement News  |  Advertise
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Employee Benefits Jobs

Plan Administrator
BlueStar Retirement Services, Inc.
in FL

Assistant to Pension Plan Administrator
Yang's Pension Consulting
in CA

Executive Director
City of Pontiac General Employees' Retirement System
in MI

Lead Manager, Retirement Plan Service (RPS) Institutional Marketing
T. Rowe Price
in CO, MD

Manager, Ascensus Consulting
Ascensus
in IN

Associate Vice President & Regional Sales Consultant
United Retirement Plan Consultants
in CA

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Webcasts and Conferences

Correcting Retirement Plan Mistakes Using IRS Correction Programs
September 4, 2014 WEBCAST
(IRS [Internal Revenue Service])

2014 Webinar: Conducting Your Own Compliance Audit
September 9, 2014 WEBCAST
(Ascensus)

2014 Webinar: Rollovers Between Retirement Plans and IRAs
September 11, 2014 WEBCAST
(Ascensus)

Conducting and Updating HIPAA Risk Assessments: Essential Steps for Employer Plans and Business Associates
September 18, 2014 WEBCAST
(Thomson Reuters / EBIA)

Inside the Beltway Series
September 18, 2014 WEBCAST
(Drinker Biddle & Reath LLP)

View All Webcasts and Conferences


  LinkedIn   Twitter   Facebook Hand-picked links to the web's best news articles,
official guidance, jobs, webcasts and more.
[Guidance Overview]

Domestic Violence Leave Becomes Law in Massachusetts
"Except where there is a threat of imminent danger, employees are required to provide 'appropriate notice' of their need for leave. While the statute does not specifically define 'appropriate notice,' employers should use the same notice period required in their other leave policies. This notice may be communicated by either the employee or another person acting on the employee's behalf. If an unscheduled absence occurs, an employer may not take any negative action against the employee if the employee produces documentation within 30 days." (Fisher & Phillips LLP)  


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The helpful guide, HIPAA Privacy for Health Plans After HITECH, explains the compliance changes that HITECH made to existing HIPAA requirements and how these changes impact your plan. Order Now!



[Guidance Overview]

Massachusetts Employers Now Required to Grant Employees Domestic Violence Leave
"The leave must be used for addressing domestic violence issues, including meeting with law enforcement or district attorneys; attending child custody proceedings; seeking medical attention or counseling; obtaining victim services or legal assistance; securing housing, or other issues 'directly related' to the abusive behavior against the employee or employee's family member. An employer can decide whether any leave taken is paid or unpaid." (Choate Hall & Stewart LLP)  

[Guidance Overview]

California Repeals 60-Day Limit on Eligibility Waiting Periods, Now Conforms to ACA's 90-Day Rule
"[T]he text of the new statute itself is confusing because it consistently states: 'A health benefit plan for group or individual coverage shall not impose any waiting or affiliation period.' ... In reading the [California Health and Safety Codes], however, it is important to remember that the relevant code sections only apply to California's insurers. Therefore ... the law has been amended to tell California's HMOs and PPOs that they can't apply waiting periods. This frees up employers to set their waiting periods at whatever they deem appropriate as long as it complies with PPACA's 90-day (or maybe 90-days plus a month ... ) limit." (Benefit Revolution)  

Health Care Data Breaches Have Hit 30 Million Patients and Counting
"Since federal reporting requirements kicked in, the [HHS] database of major breach reports (those affecting 500 people or more) has tracked 944 incidents affecting personal information from about 30.1 million people.... There's still concern, though, about the health-care industry's ability to prevent and respond to data breaches. About 69 percent of health security professionals in a 2013 survey said their organization has a data breach plan in place, up from 62 percent in 2012. Another 27 percent said they were still developing a strategy[.]" (The Washington Post; subscription may be required)  

Employers Expect Health Care Costs to Rise 5.2% in 2015 But Hope to Whittle Down to 4%
"U.S. employers expect a 4% increase in 2015 health care costs for active employees after plan design changes, according to [Towers Watson]. If no adjustments are made, employers project a 5.2% growth rate, putting absolute cost per person for health care benefits at an all-time high.... Of particular concern on the cost front is the [ACA's] excise tax, which goes into effect in 2018. Nearly three-quarters (73%) of employers said they are somewhat or very concerned they will trigger the tax based on their current plans and cost trajectory. More than four in 10 (43%) said avoiding the tax is the top priority for their health care strategies in 2015." (Towers Watson)  


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In-House Practitioner Registrants Attend for Free

Sponsored by Momentum Events

Providing a forum for in-house counsel at plan sponsors, plan administrators and insurance companies and their outside legal counsel to benchmark litigation defense and regulatory compliance strategies for ERISA claims.



Specialty Tier Pharmacy Benefit Designs in Commercial Insurance Policies: Issues and Considerations
8 pages. "The one design that has survived and emerged as the most common approach [to moderating the costs of providing prescription drug coverage] is the tiering of benefits, or benefit designs that assign covered prescription drugs to a 'tier' based on cost-sharing and other requirements, like preauthorization.... [F]or those in need of drugs on the higher tiers with the most cost-sharing, three important issues have emerged for regulators to consider: [1] the affordability of prescription drug therapies for those who need them most; [2] the adherence challenges that result from loss of affordability; and [3] the potential for tiered pharmacy benefit designs to violate the anti-discrimination provisions of the ACA." (State Health Reform Assistance Network, a program of the Robert Wood Johnson Foundation)  

Health Plans Experiment with New Benefit Designs to Give Value
"Health insurers offering plans in the [ACA] marketplaces are experimenting with new types of benefit designs aimed at giving consumers some value before subjecting them to deductibles or other cost-sharing requirements. But the benefit designs may confuse many consumers.... Some plans, dubbed 'doughnut hole' plans, require copayments before deductibles are met and coinsurance payments afterward ... Some plans require separate deductibles for drugs, or separate copayments for hospitalizations, which can be significant, ... [T]wo plans side by side [may] look like they have the same deductible. But one plan covers primary care services pre-deductible and the other plan, it's more of a traditional type where you have to pay everything out of pocket until the deductible is met." (Bloomberg BNA)  

ERISA at 40: Federal Preemption and the ACA (PDF)
5 pages. "A sweeping preemption provision that constricted the ability of states and localities to regulate employer-sponsored benefit plans was a major feature of ERISA as enacted, designed to create administrative uniformity for employers who sponsor benefit plans covering employees nationwide.... This article discusses the reach of ERISA preemption as it concerns pre-ACA health care reform laws designed to expand employer-provided health coverage, the status of those laws in the wake of the ACA, and the role and motivation of states and localities in regulating employer-sponsored coverage in a post-ACA world." (Buck Consultants at Xerox)  

Carefully Choosing the Right Benefits Package Pays Off for Employees -- and Employers
"There are a few important tips that can increase the success of employers as they create a balanced and cost-effective benefits package that will appeal to current and future employees. Ask questions-and the important ones.... Choose a customized benefits plan over an off-the-shelf package.... Build it around the workforce.... Start a healthcare literacy program to help employees help themselves." (Healthcare Reform Magazine)  

ACA Medical Device Tax Not Meeting Revenue Goal
"A tax imposed on medical devices included in the [ACA] is raising roughly three-quarters of the revenue originally expected, according to a new government report.... The Treasury Inspector General for Tax Administration (TIGTA) said the IRS needs to continue to tweak its compliance rules for the tax, identifying several mistakes when it came to collecting money owed the government. IRS agents were still having a hard time determining exactly which medical device manufacturers were subject to the tax; both the returns filed and revenue raised have come in well short of expectations." (The Hill)  

Why More, Not Fewer, People Might Start Getting Health Insurance Through Work
"It's early yet to be sure of a strong trend, but the Walmart experience mirrors evidence from early polls and the historical experience of Massachusetts, which enacted a law similar to the [ACA] in 2006. More people may be signing up for employer-based coverage than did before.... What Walmart's experience reminds us is that there were also uninsured people who simply chose not to buy coverage before there was a law requiring them to do so. Now they may be changing their minds." (The New York Times; subscription may be required)  

Managers and Supervisors Often Surprised by Breadth of FMLA's Coverage
"Supervisors can ... be educated about 'red flags' that result in them consulting a human resources professional to gather additional guidance on how to address a particular situation ... Managers often think of the FMLA as a law that comes into play only when an employee is getting ready to take a maternity leave or when they have a debilitating illness requiring an extended hospital stay. Those are obviously scenarios where the FMLA is implicated, but the act provides much greater coverage than that." (Society for Human Resource Management [SHRM])  

Survey by New York Federal Reserve: Higher Health Costs, More Part-Time Workers Due to Obamacare
"More than 73% of manufacturers and 58% of service firms said the health care law has increased costs this year. Companies are also more pessimistic about Obamacare next year. Over 80% of manufacturers and 74% of service firms expect health plan costs to increase in 2015." (U.S. Chamber of Commerce)  

Benefits in General; Executive Compensation

ISS Announces Equity Plan Data Verification Portal for Issuer Review (PDF)
"On August 14th, Institutional Shareholder Services (ISS) announced the release of a new portal for companies to review and verify the accuracy of data used by ISS in its evaluation of equity compensation plan proposals submitted to shareholders after September 8, 2014.... [The portal] offers U.S. companies the opportunity to ensure ISS has accurately captured key aspects of its new or amended equity plan prior to the release of ISS' s vote recommendation. Equity plan data verification items cover equity plan provisions, outstanding stock and convertibles, equity grant activity, and shares reserved and outstanding under the equity compensation program." (Frederic W. Cook & Co., Inc.)  

ERISA at 40: The Evolution of Employee Benefits
"This article explores ERISA's history, focusing on the major developments that have emerged over the years. It also includes thoughts from leading practitioners on the future of employee benefits law and practice." [Contributors include: Alvin H. Brown, Alan D. Lebowitz, Andrew L. Oringer, Prof. Kathryn J. Kennedy, and David N. Levine.] (Practical Law Company)  

Multiemployer Trustee Selection and Orientation: 2014 Survey Results (PDF)
27 pages. "The vast majority of fund representatives believe it is more challenging to be a trustee today compared to the past.... Concern about keeping up with constantly changing regulations is the most common challenge for current trustees.... Respondents regarded employee benefits, business, and accounting/finance as the top three educational backgrounds for good trustees... The majority of representatives believe it takes between three and five years to develop a competent trustee." (International Foundation of Employee Benefit Plans [IFEBP])  

Compensation of Top 200 Directors Increased by 2.7% in 2013
"Median total remuneration paid to non-employee directors was $268,333 in 2013, an increase of +2.7% over 2012 levels.... Pay mix for non-employee directors has remained relatively unchanged since 2008. Directors continue to receive just over half of their total compensation in the form of equity (55% in 2013), in accordance with governance best practices. Annual cash board retainer increased $5,000 in 2013 to a median of $90,000 and the median annual equity board retainer remained constant at $140,000. Equity compensation is delivered predominantly in full value shares." (Steven Hall & Partners)  

Press Releases

WEB Network Announces New National Board
Worldwide Employee Benefits Network [WEB]

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