Welfare Plans Edition
January 10, 2001
Today's sponsor is EmployeeBenefitsJobs.com (click on banner for more information)
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Final Regulations on Permitted Election Changes in Cafeteria (Section 125) Plans
Excerpt: "The final regulations being issued today are generally consistent with the proposed regulations that were issued earlier this year, but include various modifications.... In response to comments, the rule under the proposed regulations that allowed an employee to change his or her election in response to a change made under a spouse's or dependent's plan has been clarified and broadened." (Internal Revenue Service)
Additional Final COBRA Regulations from IRS (HTML format)
Excerpt: "The 1999 proposed regulations relating to health flexible spending arrangements (health FSAs) are adopted with one minor change and one addition.... The 1999 proposed regulations relating to the determination of the number of plans that an employer or employee organization maintains are modified and reorganized.... The 1999 proposed regulations relating to business reorganizations are adopted as final regulations with two clarifications." (Internal Revenue Service)
Additional Final COBRA Regulations from IRS (PDF)
64 pages. Excerpt: "The 1999 proposed regulations relating to health flexible spending arrangements (health FSAs) are adopted with one minor change and one addition.... The 1999 proposed regulations relating to the determination of the number of plans that an employer or employee organization maintains are modified and reorganized.... The 1999 proposed regulations relating to business reorganizations are adopted as final regulations with two clarifications." (Internal Revenue Service)
Employer-Sponsored Prescription Drug Benefits-A Closer Look
The attitudes and practices of employers on prescription drug benefits is analyzed in a 20-page report. Survey results show rising drug prices and increased utilization have prompted employers to consider changes in plan design, particularly as it effects employee cost sharing. (International Foundation of Employee Benefit Plans)
Form 5500 for 2000 Plan Year Issued With Few Changes
Excerpt: "According to the DOL press release, the 2000 Form 5500 is essentially unchanged from 1999. Under the DOL's computerized ERISA Filing Acceptance System (EFAST), filers can continue to choose between two computer scannable versions of the Form 5500: 'machine print' and 'hand print.'" (EBIA Weekly)
Supreme Court Won't Decide Whether Federal Jurisdiction Exists to Enforce ERISA Subrogation Clauses
Excerpt: "Resolution of this important jurisdictional question can't come soon enough for plans operating in the Ninth Circuit. The Reynolds case, however, was not the only opportunity for Supreme Court guidance-- the Court has also been asked to grant review in two other potential vehicles for a decision on this issue ..." (EBIA Weekly)
Extensive List of Long-Term Care Links, Collected by Mr. Long-Term Care
(Mr. Long-Term Care)
Opinion: How The Long-Term Care Insurance Industry Can Strengthen Itself And Care For Its Customers
Excerpt: "In my opinion, there are two reasons LTC insurers are their own worst enemies: (1) They refuse to embrace the simple concept of 'strength in numbers' and (2) They fail to proactively support 'strategic partners.'" (Martin K. Bayne, Mr. Long-Term Care)
(Following also appears in Retirement Plans Edition)
ADP Partners With AtWork To Offer Web-Based Benefits Administration Solution
Press release. Excerpt: "Automatic Data Processing, Inc. (ADP®), and AtWork Technologies, Inc., a leading provider of Internet-based human resource management applications, today announced a strategic partnership offering a comprehensive Web-based solution that allows mid-market companies to more efficiently manage their employees' health and welfare benefits. The new service complements ADP's existing benefits solutions available for small and large employers." (Business Wire, via Yahoo! Finance)
New, Shorter Version of Benefits Buzz Available
The new, shorter version of Benefits Buzz (our popular listing of new links and features) is an alternative to the regular, longer listing. The shorter version means less scrolling. Unlike the regular listing, the shorter version skips the excerpts, the 'more like this one' search engine shortcuts, and the 'similar pages' shortcuts. (BenefitsLink)
BenefitsLink Named One of the 50 Top Web Sites for Recruiting, for Third Consecutive Year
Excerpt: "These sites are our 2001 picks for the CAREERXROADS' Best of the Best. Unique niches, marketing prowess, business acumen, commitment to customers, ability to connect to a target audience, etc. were among the major factors in our choices this year." (CareerXRoads.com)
Chavez Withdraws From Nomination As DOL Secretary
Excerpt: "Linda Chavez, whose nomination as President-elect George W. Bush's labor secretary was dogged by allegations that an illegal alien lived and worked in her home, withdrew from consideration on Tuesday." (Reuters via Yahoo! Finance)
Temporary Regulations on Excess Benefit Transactions for Non-Profit Executives Issued by IRS (PDF)
116 pages. Excerpt: "The temporary regulations clarify that a compensation arrangement in its entirety must be evaluated and also provide examples of relevant comparability data. In the case of a compensation arrangement, the temporary regulations provide that relevant information may include a current compensation survey compiled by an independent firm." (Internal Revenue Service)
| Chief Financial Officer - Benefits Organization | for Fortune 159 Financial Services Organization in CT, MA |
| Relationship Manager, Institutional Group | for The Vanguard Group in PA |
| Senior Benefits Specialist | for United Way of America in VA |
| Senior Manager Pension Actuary | for Deloitte & Touche in IL |
| Benefits Manager | for Washington, DC Law Firm in DC |
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