| BenefitsLink Welfare Plans Newsletter |   |
February 6, 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. |
Shopping for Price in Medical Care -- Insurers Best Positioned to Provide Information to Consumers
9 pages. Excerpt: "Insurers are well positioned to support their enrollees in shopping for care because of their ability to analyze complex data -- reflecting both their negotiated discounts and the enrollee's benefit structure -- should they decide to commit resources to this task." (Health Affairs)
The Employer/Purchaser Guide to Value-Driven Health Care (PDF)
72 pages. Excerpt: "[T]he Purchaser Guide was developed to assist purchasers to quickly identify which initiatives they can undertake to meet each of Secretary Leavitt's cornerstones. The front of this guide contains a 'quick reference' section. This section is broken down by cornerstone; beneath each is a list of actions purchasers can take and, where applicable, a list of corresponding existing initiatives that support the goals of the cornerstones." (The ERISA Industry Committee)
Wal-Mart Adopts Automated Absenteeism System
Excerpt: "Wal-Mart's shift in policy comes at a time when absenteeism is on the rise and many employers - particularly in retail and similar transient industries - have reached the point of exasperation." (Employee Benefit News)
Overview: Health Insurance Policies, Riders, and Optional Benefits that May Prevent HSA Eligibility
Excerpt: "In the first private letter ruling addressing HSAs, the IRS analyzed 11 insurance policies and 38 related riders and optional benefits to determine whether they would prevent HSA eligibility." (Employee Benefits Institute of America Inc.)
Trial Court Rejects Employees' Arguments to Include Flex Credits in Calculating Overtime Pay
Excerpt: "EBIA Comment: While we aren't surprised that the court rejected the employees' creative arguments, we were disappointed in its failure to mention Madison v. Resources for Human Development, the seminal case on whether cashable flex credits under a cafeteria plan should be included in an employee's regular rate of pay for FLSA purposes." (Employee Benefits Institute of America Inc.)
Appeals Court Finds Caremark Rx Did Not Breach Fiduciary Duties
Excerpt: "Caremark Rx, Inc. did not breach its fiduciary duties when negotiating drug prices and managing the formulary for a multi-employer health fund because it was not acting as a fiduciary, a federal appeals court ruled last month." (DRUG BENEFIT NEWS via AISHealth.com)
Health Plans Must Ensure that Non-Employees Follow Remote Access Data Rules
Excerpt: "CMS guidance on remote access to health data can protect health insurers from violating regulations in situations where agents send underwriting data in from the field, and where physicians send in supporting documentation . . . ." (MANAGED CARE WEEK via AISHealth.com)
Jury Finds Defendant Guilty of Wrongfully Obtaining Individually Identifiable Health Information
Excerpt: "According to the press release, this is the first HIPAA case to go to trial. . . . We do not know whether the propriety of the HIPAA charge was challenged in this trial, and it is unclear whether or not the convicted individual's company was a HIPAA covered entity. But this case nevertheless signals the intention on the part of some prosecutors to target individuals who misuse individually identifiable health information, even where the individuals are not covered entities . . . ." (Employee Benefits Institute of America Inc.)
OMB Will Now Review All 'Guidance Documents' Before They Are Released
Excerpt: "The Office of Management and Budget (OMB) will now review all 'guidance documents' released by federal agencies - including CMS - before they are made available to the public, according to Executive Order 12866, released Jan. 18." (REPORT ON MEDICARE COMPLIANCE via AISHealth.com)
TPAs Provide Flexibility for Midsize Employers
Excerpt: "Despite recent acquisitions and a push for more high-tech solutions, third-party administrators still believe the middle market craves flexibility and highly personalized service." (Employee Benefit News)
The Role of Silent PPO's In the Health Care Delivery System
Excerpt: "Healthcare provider challenges to 'silent PPO' arrangements have faced a number of obstacles. In some cases, the issues have turned on the authority the providers conferred in the contractual documents. . . . In a more recent set of cases, providers are running afoul of the new class action legislation designed to limit access to this collective remedy." (Health Plan Law blog by Attorney Roy F. Harmon III)
Experience with LASIK, Other Self-Pay Procedures Reveals Key Barriers to Consumer Price Shopping
Excerpt: "Given that consumer shopping is not prevalent in most self-pay markets, [the authors] expect the extent of shopping to be even more limited for many services covered by insurance." (Health Affairs)
Canadians Look to Private Care and U.S.-Based Medical Tourism As Alternatives
Excerpt: "Negative ratings of the country's health care system are beginning to eclipse positive ratings and many Canadians support a parallel private system for publicly available services." (Employee Benefit News)
Opinion: Foundation Suggests Schwarzenegger Health Plan's Success Depends on Affordability
Excerpt: "[Schwarzenegger] would force every individual to buy insurance but the plan does not guarantee that premiums will be affordable for every Californian. Today, a health insurance policy costs over $11,000 for a family of four. Insurers will also be able to charge more based on health status." (The Foundation for Taxpayer and Consumer Rights)
Mass. Business Leader Says Companies Should Contribute More to Employee Health Care Than Required
Excerpt: "The president of the not-for-profit Smaller Business Association of New England, Robert Baker, said that Massachusetts' new health insurance law does not require employers to contribute a large enough percentage toward employee health insurance premiums, the Boston Globe reports." (Kaiser Family Foundation)
Wellness Programs Prompt Employees to Work Harder and Stay with Employer Longer
Excerpt: "More than half of employees say employer-sponsored wellness programs encourage them to work harder and 55% say the programs persuade them to stay with their current employer, according to the Principal Financial Well-Being Index." (PLANSPONSOR.com; free registration required)
New York State Implements Mental Healthy Parity Law
Excerpt: "New York health carriers should make health plan purchasers aware of new mental health benefits mandates in the next few weeks. Charles Rapacciuolo, chief of the New York State Insurance Department health bureau, describes carriers' new responsibilities in Circular Letter Number 3 (2007)." (National Underwriter Life & Health; free registration or paid subscription required)
2007 State Legislators' Guide to Health Insurance Solutions and Glossary (PDF)
52 pages. Excerpt: "Here you will find many of the issues confronting the health insurance market, its consumers -- and legislators. We have summarized each issue, highlighted actions already taken by states, and offered possible solutions. We have also included a glossary that explains a number of industry terms." (The Council for Affordable Health Insurance)
Budget of the United States Government -- Fiscal Year 2008
This site presents the budget documents with brief explanations of and links to each. (U.S. Office of Management and Budget)
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
Opinion: The President's Budget and Accounting Practices
Excerpt: "[T]he official accounting is also misleading another way -- specifically, in the way it handles Social Security. In 2006, the federal government received $185 billion more in Social Security taxes than it paid out in benefits. Unlike a private company, which keeps such overages in its pension fund to cover future benefits, the White House pockets the money and declares the deficit to be smaller." (The New York Times; free registration required)
Courts Clarify Restrictions Employers May Place on Eligibility for Deferred Compensation Awards (PDF)
2 pages. Excerpt: "On January 11, 2007, the United States Court of Appeals for the Second Circuit issued a decision that affects all employers who provide deferred compensation to employees in the state of New York. At issue was whether an employer may alter the duties or compensation potential of an at-will employee who has been awarded deferred compensation that is contingent on the employee's agreement not to resign and compete." (Pillsbury Winthrop Shaw Pittman LLP)
ERIC States Opposition to Senate's Proposed Cap on Deferred Compensation
Excerpt: "The proposed limit on nonqualified plan deferrals is a provision of the Small Business and Work Opportunity Bill of 2007 (S. 349), a package of small business tax incentives that is currently under debate in the Senate as part of legislation to raise the minimum wage." (Wolters Kluwer Law & Business)
Commentary on Means Testing of Benefits
Excerpt: "In the just released . . . Budget of the United States Government-Fiscal Year 2008, President Bush lays out his plan to tax the wealthy. . . . According to Financial Times reporters Caroline Daniel and Krishna Guha ('Bush wants to means-test middle-class benefits,' February 5, 2007), the $2.9 trillion budget 'represents a challenge to parts of the system of entitlements enacted as part of the Great Society agenda of the 1960s.'" (Pension Risk Matters)
Newly Posted Events
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in Arizona on February 22, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in Kansas on March 9, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in District of Columbia on March 9, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in Florida on March 14, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in California on March 21, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in Georgia on March 23, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: Advanced IRAs: A seminar for serious IRA professionals
in California on March 23, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in Arizona on February 21, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in Kansas on March 8, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in District of Columbia on March 8, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in Florida on March 13, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in California on March 20, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in Georgia on March 22, 2007
presented by BISYS Retirement Services
2007 Mid-Winter Tour: IRA Essentials
in California on March 22, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: 403(b) Plans
Nationwide on March 22, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Comparing Roth and Traditional IRAs
Nationwide on March 20, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Conversions and Recharacterizations
Nationwide on March 13, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Establishing IRAs and IRA Amendments
Nationwide on March 27, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Health Savings Account Market Entry
Nationwide on March 29, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Contributions
Nationwide on March 6, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Required Minimum Distributions
Nationwide on March 8, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Update
Nationwide on March 27, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: SIMPLE IRA Plans
Nationwide on March 15, 2007
presented by BISYS Retirement Services
21st Annual Employee Benefits Institute
in Kansas on April 20, 2007
presented by Employee Benefits Institute of Kansas City, Inc.
Earned Income - Basics and Beyond
Nationwide on February 27, 2007
presented by SunGard Relius
NASI Conference - For the Common Good: What Role for Social Insurance? - Webcast
Nationwide on February 6, 2007
presented by KaiserNetwork.org
Newly Posted Press Releases
Segal Combines Two Lines Of Business
The Segal Company
Still River Publishes “Nine Keys to Winning Baby Boomers’ Assets At Retirement”
Still River Retirement Planning Software, Inc.
DFW Area Physicians Recognized For Improving Quality of Care for Treatment of Heart Disease, Diabetes and Stroke
Dallas-Fort Worth Business Group on Health
Equity Administrations Solutions Inc. (EASi) Completes $1.8 Million Series B Equity Financing
Equity Administration Solutions, Inc. (EASi)
Maplesoft announces Maple-NAG Connector
Maplesoft
Newly Posted or Renewed Job Openings
Pension Specialist
for Diversified Investment Advisors
in NJ
Human Resources Analyst
for Old Mutual Asset Management
in MA
Client Relationship Manager
for Growing TPA firm
in MI
Senior Client Relationship Manager
for The Newport Group
in FL
Benefits Paralegal
for Constellation Energy
in MD
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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