| BenefitsLink Welfare Plans Newsletter |   |
January 16, 2007
Sponsored by: Employee Benefits Institute of America Inc. (EBIA)
(Click on company name or banner to learn more.)
| Record Retention Requirements for Health & Welfare Plans |
| In Record Retention Requirements for Health & Welfare Plans, EBIA's experts analyze record retention requirements for ERISA health and welfare plans as well as other employer-provided health and welfare benefits not subject to ERISA. You'll find answers to your record retention questions for many benefits including cafeteria plans, DCAPs, qualified transportation plans, HSAs, group health plans (like major medical, dental, health FSAs, and HRAs), and other ERISA benefits.
Available now at the introductory price of $195. Please enter priority code BL195. For more information and to order, visit http://www.ebia.com/OtherOfferings/Books/RecordRetention. |
FSA Debit Cards Are Making the Process Easier
Excerpt: "The system, so far in place at only a few chains including Walgreens and Wal-Mart, will reduce the need for employees to submit receipts, says Heffy Provost, a vice president at ADP, a large payroll processor that sponsors an FSA debit card." (The Washington Post; free registration required)
Reasons to Hold Out Hope for Balancing Work and Home
Excerpt: "[T]hree trends now gaining momentum hold the potential for positive change. While these developments aren't universal and will benefit mainly highly skilled workers, they hold the promise of a little more control over when and where you work -- and some new tools to watch over loved ones while you do." (The Wall Street Journal Online via CareerJournal.com)
Demutualization Proceeds Are Plan Assets Available to Benefit All Plan Participants
Excerpt: "EBIA Comment: In this case, because the premiums were fully employee-paid (and the trust was the policyholder), there was no dispute whether any portion of the demutualization proceeds belonged to the plan sponsor, instead of the plan. This decision confirms the DOL's view that demutualization proceeds attributable solely to employee-paid premiums are plan assets." (Employee Benefits Institute of America Inc.)
COBRA Election Notice Provided to Retiring Employee Was Adequate
Excerpt: "EBIA Comment: This appears to be a case of refusing to take 'no' for an answer, regardless of the facts. The employee admitted that he didn't satisfy the applicable service requirement for retiree health coverage. He then attempted to re-cast his claim for retiree coverage as a claim for an inadequate COBRA notice -- because the notice didn't offer him the (free) retiree coverage that other retirees received." (Employee Benefits Institute of America Inc.)
WSJ Examines 'Novel Solution' by Hospital, Health Insurer to Improve Efficiency and Retain Profits
Excerpt: "The Wall Street Journal on Friday examined how efforts at Seattle-based Virginia Mason Medical Center to more efficiently treat patients with certain conditions resulted in lower profits until the hospital developed a 'novel solution' with a health insurer." (Kaiser Family Foundation)
Louisiana Health Care Providers/PPO Litigation Settles for $12 Million
Excerpt: "Concentra announced today that one of its wholly owned subsidiaries, FOCUS Healthcare Management, Inc., has tentatively settled a class action lawsuit in Louisiana. The case, Gunderson, et al. v. F.A. Richard & Associates, Inc., et al., has been pending since 2004 in the state court of Louisiana, Parish of Calcasieu." (Health Plan Law blog by Attorney Roy F. Harmon III)
Company Clinics Cut Health Costs
Excerpt: "Frustrated by runaway health costs, the nation's largest employers are moving rapidly to open more primary care medical centers in their offices and factories as a way to offer convenient service and free or low-cost health care." (The New York Times; free registration required)
National Healthcare Disparities Report, 2006
Excerpt: "The report presents, in chart format, the latest available findings on quality of and access to health care in the general U.S. population and among priority populations. It focuses on four components of quality -- effectiveness, patient safety, timeliness, and patient centeredness -- and two components of access -- facilitators and barriers to health care and health care utilization." (U.S. Agency for Healthcare Research and Quality)
Letters to the Editor: Who Will Pay for Health Care for All?
Excerpt: "You write: 'Guaranteed health care for children is the new political apple pie. No one can say he is against it.' Not true. I am. While Gov. Arnold Schwarzenegger proposes health insurance for all of California's children, he is also proposing to eliminate the welfare payments for the families of those who take care of those children, especially the illegal immigrants." (The New York Times; free registration required)
Iowa Legislative Hearings on Universal Health Care Plan Are Planned
Excerpt: "A campaign to bring Iowans universal access to health care was kicked off in the Legislature Wednesday by a group of Democrats who want to pay for their health plan with a dollar increase in the cigarette tax." (The Des Moines Register)
Coalition of Business Trade Associations' Letter on Medicare Direct Drug Price Negotiations (PDF)
1 page. Excerpt: "We do not believe a compelling case has been made for direct negotiation by Medicare on prescription drug prices." (The ERISA Industry Committee)
Canadian Pharmacy Groups Seek Protection of Drug Supply
Excerpt: "Four pharmacy groups are urging Can.ada's minister of health to prevent the bulk export of prescription drugs in response to a bipartisan bill introduced in the U.S. Congress to allow prescription drugs to be re-imported from Can.ada." (Business Insurance)
WP Abstract: Mandated Health Insurance and Utilization and Outcomes of Infertility Treatments
Excerpt: "[The authors] conclude that, while benefit mandates potentially solve a problem of adverse selection in this market, these benefits must be weighed against the costs of the significant moral hazard in utilization they induce." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve full-text)
Proposal for Guaranteed Health Care for All Built on Medicare and Employment-Based Insurance (PDF)
11 pages. Excerpt: "[Health Care for America] would extend insurance to all non-elderly Americans through a new Medicare-like program and workplace health insurance, while creating an effective framework for controlling medical costs and improving health outcomes to guarantee affordable, quality care to all." (Economic Policy Institute)
Sponsored by: Health and Welfare Plan Management for Mid-Sized Employers
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| An Annual Check-Up for your Health Care Plan |
| Is your health care plan in shape? It may be time for a check-up. Plan sponsors are experiencing a myriad of cost vs. quality symptoms and conventional treatment is falling short of providing the cure -- quality health care at an affordable price. Treatments vary, and there are a number of strategies to consider. Which features are right for your plan? Find out at the Health and Welfare Plan Management for Mid-Sized Employers, March 25-28, in Orlando, Florida. This event can help your health care plan get back in shape! |
| (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) |
Links to Items on Executive Comp, Benefits in General
Text: List of Expiring Federal Tax Provisions 2006-2020 (PDF)
31 pages. Excerpt: "This document, prepared by the staff of the Joint Committee on Taxation, provides a listing of Federal tax provisions (other than those providing time-limited transition relief after the repeal of an underlying rule) that are currently scheduled to expire in 2006-2020 (with references to the applicable section of the Internal Revenue Code of 1986 or other applicable law)." (U.S. House of Representatives, Joint Committee on Taxation)
The 2007 State Political Climate (PDF)
3 pages. Excerpt: "The . . . table summarizes the political climate in each state as the 2006 legislative sessions come to a close and the 2007 legislative sessions begin." (Hewitt Associates)
Phantom Stock Provides Key Employee with a Benefit Equivalent to Being a Part Owner in the Business
Excerpt: "For family businesses and other closely-held companies it is a common problem for the family owners to compensate fairly and motivate essential, nonfamily key employees. A phantom stock plan is an excellent way to give employees an opportunity to share in the family business' success and give them a stake in the business." (Intelligencer Journal via Lancaster Newspapers)
Opinion: Age 65 and Not Ready or Able to Go
Excerpt: "Here's the harsh reality for those of us who have become worker-capitalists, responsible for funding our own retirement: We can't afford to stop working at normal retirement age." (The Washington Post; free registration required)
Newly Posted Events
401(k) Testing for the 2006 Plan Year -- What You Need To Know!
Nationwide on January 23, 2007
presented by American Society of Pension Professionals & Actuaries (ASPPA)
Cafeteria Plan Election Changes -- When to Say "Yes" and When to Say "No"
Nationwide on February 8, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Health and Productivity Programs for a Winning Strategy
in District of Columbia on February 27, 2007
presented by Capital Chapter ISCEBS
Newly Posted Press Releases
PBGC Assumes Pension Plan Of Foss Manufacturing Co.
Pension Benefit Guaranty Corporation (PBGC)
Major Employers See Medicare Bill as Missed
ERIC (ERISA Industry Committee)
Newly Posted or Renewed Job Openings
Pension Consultants/Administrators
for Northern NJ Mid-Size Pension Consulting Firm
in NJ
Pension Administrator
for Advantage Benefits Consultants, Inc.
in CT
Plan Services Consultant
for American United Life Insurance, a OneAmerica financial partner
in IN
Senior Due Diligence Analyst
for Vanguard
in PA
Retirement Plan Administrator
for MVP Plan Administrators, Inc.
in NC
Retirement Services Representative - Pittsburgh Pension Office
for Securian Financial Group
in PA
Attorney
for Alston & Bird LLP
in DC
Retirement Plan Administrator
for Padgett, Stratemann & Co., L.L.P.
in TX
Retirement Plan Consultant
for Cassidy Retirement Group
in MA
Corporate Counsel III
for Charles Schwab
in CA
Pension Plan Administrator
for Susquehanna Bancshares, Inc.
in DE
Daily Valued Plan Administrator
for Leggette Actuaries, Inc.
in TX
Supervisor (Benefits Administration - Health and Welfare) - JP25899-JN
for Southern California Edison
in CA
Plan Administrator
for Profit Planners, LLC (Des Plaines, IL)
in IL
Pension Administrator
for Lurie Besikof Lapidus & Company, LLP
in MN
401(k) Plan Administrator
for Pollard & Associates, Inc.
in MD
Assistant Pension Administrator
for Pollard & Associates, Inc.
in MD
Defined Contribution Asst
for Standard Insurance Company
in OR
Defined Contribution Analyst II
for Standard Insurance Company
in OR
Health & Welfare Actuarial - Managing Consultant
for The Savitz Organization
in PA
Retirement Plan Administrator
for Retirement Plan Services, Inc.
in NC
Senior Actuary
for IPA Northeast, LLC
in NJ
Plan Review and Enrollment/Communications Specialist
for Pension Specialists, Inc.
in CA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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