| BenefitsLink Welfare Plans Newsletter |   |
December 15, 2005
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Older Workers Seek Flexibility, Autonomy, Learning
Excerpt: "New studies support the notion that creative work arrangements may be key to retaining employees 50 and older." (Workforce Management; one-time registration required)
Family and Medical Leave Act Soon to Be In the Regulatory Spotlight
Excerpt: "Anticipation is building for the release of the Department of Labor's (DOL) proposed rule revising Family and Medical Leave Act (FMLA) regulations. Employers, consultants, lobbying groups, and other interested parties have been expecting the DOL to issue new proposed regulations since 2002, when the Supreme Court handed down its decision in Ragsdale v. Wolverine Worldwide." (Hewitt Associates)
New Jersey Assembly Passes Bill Mandating Health Plan Contraceptive Coverage
Excerpt: "Women using pres.cription contraceptives would get coverage if their employee health plans have drug coverage, under a bill passed Monday by the state Assembly. The bill includes state workers. The bill, approved 57-14, with five abstentions, excludes churches or religious schools from providing the benefit to their workers if the coverage conflicts with 'bona fide religious beliefs and practices.'" (AP via Newsday)
Price Check: The Mystery of Hospital Pricing
Excerpt: "Hospital pricing information is important to the 6.5 million uninsured Californians and the growing number of people who have consumer-directed health plans that typically include high deductibles and personal health care accounts. Yet, people who shop for pricing and financial assistance information at California hospitals have a difficult time getting answers, according to this study." (California HealthCare Foundation)
Issue Brief: Can Money Buy Quality? Physician Response to Pay for Performance
Excerpt: "While pay for performance (P4P) has created a nationwide buzz among health plans, physicians and hospitals, most P4P initiatives are still on the drawing board, according to findings from the Center for Studying Health System Change's (HSC) 2005 site visits to 12 nationally representative communities." (Center for Studying Health System Change)
Newspaper Editorial, Opinion Piece Address Health Care Costs
Excerpt: "The Seattle Post-Intelligencer recently published an editorial and an opinion piece that addressed the issue of health care costs. Summaries appear [on the target page]." (Kaiser Family Foundation)
Ford Retirees to Pay Some Health Care Costs
Excerpt: "Ford Motor Co. retirees will start making monthly health care contributions and pay deductibles as part of a tentative agreement the automaker reached with the United Auto Workers, which provided details of the plan Wednesday." (AP via The Washington Post; one-time registration required)
Health Insurance for Public Employee Retirees Will Burden Governments
Excerpt: "The cost of health insurance for retired government employees, overlooked for years by politicians and the public, is slowly coming into focus for cities, counties and school districts in Minnesota. One of the biggest obligations is in St. Paul, where the total future liability could reach $1 billion for the city, the school district and Ramsey County. Duluth is looking at a $280 million bill." (Star Tribune via BlueCross BlueShield Association)
Overview: Medicare Subsidy Disregarded in Determining Employer Deduction (PDF)
1 page. A short discussion of IRS Revenue Ruling 2005-60. (Milliman)
Fortune 500 Companies Reap Wellness ROI
Excerpt: "What's the world coming to when a physician touts a program's ROI and a certified public accountant talks of 'leveraging employer intimacy'? The role reversal was on display in back-to-back reports on the success of health and wellness programs at two Fortune 500 companies, delivered at 'Low Cost, Big Benefits,' an EBN-sponsored conference held Dec. 8 in Philadelphia." (BenefitNews Connect)
Wall Street Journal Online Debate Examines Consumer-Driven Health Plans, Health Savings Accounts
Excerpt: "The Wall Street Journal Online on [December 13] published an online debate that addressed consumer-driven health plans and health savings accounts. The debate featured Joseph Antos, former assistant director for health and human resources at the Congressional Budget Office; John Goodman, founder and president of the National Center for Policy Analysis; and Robert Reischauer ...." (Kaiser Family Foundation)
Changing Definition of 'Dependent' -- Who Is Insured and for How Long?
Excerpt: "Typically, children lose health care coverage under a parent or other legal caregiver on their 19th birthday. Full-time students are often given an exception with dependent status ending at graduation or a specified age. Recently, however, states have been reacting to the access problem by extending the age of dependency." (National Conference of State Legislatures)
Trends in State Mandated Health Insurance Benefits (PDF)
2 pages. Excerpt: "Since CAHI closely monitors state mandate legislation nationwide, we see mandate 'trends' developing long before many others. The purpose of this short report is to identify some of those trends: which state mandates are growing in popularity among state legislators and in which states." (Council for Affordable Health Insurance)
House Members Introduce Bill to Help Increase Use of Health Savings Accounts
Excerpt: "House Speaker Dennis Hastert (R-Ill.) and Rep. Eric Cantor (R-Va.) on [December 13] introduced a bill that would allow employees to use health savings accounts in conjunction with flexible spending accounts and health reimbursement accounts, CongressDaily reports." (Kaiser Family Foundation)
Overview: Employer Reporting Requirements under the LMRDA
Excerpt: "Employers must file a Form LM-10 within ninety (90) days of the end of their fiscal year, while unions meet their corresponding reporting requirements by filing a Form LM-30." (Littler Mendelson P.C.)
Links to Items on Executive Comp, Benefits in General
Countdown to Implementation: FAS 123R Preparation on a Tight Timeframe
Excerpt: "With the date of adoption for FAS 123R quickly approaching, companies with calendar year plans are left with just a few weeks to work through various strategic and tactical decisions. Here we offer steps to help streamline the transition process." (CCA Strategies, LLC)
The APIC Pool Shortcut: A Review of FSP 123-c
Excerpt: "Companies have one year from the earlier of their 123R adoption date or the issuance of the final staff position (11/10/2005) to make the one-time election of their APIC Pool method. This article is a compilation of the questions that have been raised." (CCA Strategies, LLC.)
Overview: Proposed Section 409A Regulations: Deferral Elections (PDF)
3 pages. Excerpt: This is the final of four Alerts analyzing the Proposed Section 409A Regulations issued on September 29, 2005 by the Internal Revenue Service under Section 409A of the Internal Revenue Code. Section 409A imposes substantial new rules on all nonqualified deferred compensation arrangements. This Alert focuses on deferral elections under Section 409A." (Kirkpatrick & Lockhart Nicholson Graham LLP)
Overview: December 31, 2005 Deadline for Certain Transition Relief under Section 409A
Excerpt: "Section 409A, which has been in effect since January 1, 2005, affects virtually all employers and their employees, directors, or independent contractors who participate in compensation programs that provide deferred payments covered by the new law. The new regulations generally extend the deadline for amending plans to the end of 2006, which is over a year away. However, employers that want to take advantage of certain transition relief may need to act by December 31, 2005." (Faegre & Benson LLP)
Benefits Perspectives: Current Issues in Employee Benefits, Fall 2005 (PDF)
8 pages. This edition includes articles titled: IRS Guidance on Deferred Compensation Presents a Mixed Bag; Making the Case for Wellness in the Workplace; and, Evidence-Based Medicine: What Employers Need to Know. (Milliman)
Hewitt Federal Legislation Quick Guide Updated as of December 13, 2005
Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding health and welfare benefit plans, retirement plans, and human resources and employment law." (Hewitt Associates)
PSCA Takes Issue with Profit Sharing Plan/Medical Account Ruling
Excerpt: "The Profit Sharing/401(k) Council of America (PSCA) has taken issue with an IRS revenue ruling concerning profit sharing plans that include medical reimbursement accounts. According to Ed Ferrigno, PSCA's Vice President, Washington Affairs, Revenue Ruling 2005-55 invalidated profit sharing plans that include a medical expense reimbursement account, if the account is treated as a tax-free employer benefit." (PLANSPONSOR.com; one-time registration required)
Newly Posted Events
Advanced IRA Essentials
in Minnesota on January 19, 2006
presented by BISYS Retirement Services
Advanced IRA Issues
in Minnesota on January 19, 2005
presented by BISYS Retirement Services
Advanced IRA Issues
in Minnesota on January 25, 2006
presented by BISYS Retirement Services
Advanced IRA Issues
in Alabama on January 25, 2006
presented by BISYS Retirement Services
Advanced IRA Issues
in Georgia on January 27, 2006
presented by BISYS Retirement Services
IRA Essentials
in Minnesota on January 18, 2005
presented by BISYS Retirement Services
IRA Essentials
in Minnesota on January 18, 2006
presented by BISYS Retirement Services
IRA Essentials
in Minnesota on January 24, 2006
presented by BISYS Retirement Services
IRA Essentials
in Georgia on January 26, 2006
presented by BISYS Retirement Services
Newly Posted Press Releases
More Than a Quarter of Companies Anticipate Layoffs in 2006, Yet Many Don't Have Severance Plans, Say WorldatWork and Aon Consulting
(WorldatWork)
Disaster Relief Announcements
(Pension Benefit Guaranty Corporation (PBGC))
PBGC Names Hanley Director Of Legislative And Regulatory Dept.
(Pension Benefit Guaranty Corporation (PBGC))
Lump-Sum Distribution Study
(Employee Benefit Research Institute (EBRI))
Study of Health Care Costs
(Employee Benefit Research Institute (EBRI))
Resolved! Three Steps Toward a Secure Financial Future
(American Savings Education Council (ASEC))
New Case Study on Defined Benefit Pension Plans Released by Rotman International Centre for Pension Management
(International Centre for Pension Management (ICPM))
Newly Posted or Renewed Job Openings
Plan Accountant
for Benefit Consultants Group
in NJ
Retirement Plan Senior Testing Specialist
for Louis Kravitz & Associates
in CA
Enrolled Actuary
for Alliance Pension Consultants
in IL
Sr. Relationship Manager, Retirement Services
for AIG VALIC
in CA, TX
Defined Contribution (3rd party Administrator)
for RSM McGladrey
in IL
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