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March 1, 2007
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EEOC Defends Rule To Limit or Eliminate Some Retirement Benefits
Excerpt: "The Equal Employment Opportunity Commission before the 3rd U.S. Circuit Court of Appeals on Tuesday argued that businesses should be allowed to limit or terminate health care benefits for retirees ages 65 and older because they qualify for Medicare, Dow Jones reports . . . ." (Kaiser Family Foundation)
More Consumers Attempt To Bargain for Lower Medical Care Prices
Excerpt: "With growing enrollment in high-deductible plans and health savings accounts -- often billed as creating 'empowerment' and 'choice' for the patient -- and out-of-pocket expenses expected to increase by more than 5% per year, more consumers are looking to comparison shop for medical procedures, which are priced with a 'maddening, arbitrary opacity,' the New York Times reports." (Kaiser Family Foundation)
Overview: IRS Clarifies Rules for Rollovers to HSAs from Certain FSAs and HRAs
Excerpt: "[T]he IRS issued Notice 2007-22, which clarifies the rules for rollovers from general purpose FSAs with grace periods and general purpose HRAs. The Notice also provides special transition relief for rollovers of amounts remaining at the end of 2006." (Faegre & Benson LLP)
Overview: IRS Guidance on Transfers to Health Savings Accounts
Excerpt: "The recently enacted Health Opportunity Patient Empowerment Act introduced several new options for addressing restrictions on participation in a Health Savings Account (HSA). . . . These options include the opportunity to transfer amounts from a health flexible spending account (health FSA) or health reimbursement account (HRA) directly to an HSA. " (Ballard Spahr Andrews & Ingersoll, LLP)
Unum Expands Buyers Study and Profiles Benefit Trends in Nine Industries
Excerpt: "Unum UNM expands its analysis of the employee benefit landscape with the recent release of trends impacting nine industry sectors. A complement to its Buyers Study released in September, this supplement is a playbook of buying patterns and benefits decisions specific to these industries." (BusinessWire via MSN.Money)
Overview: San Francisco's Paid Sick Leave Ordinance and Other California Employment Law Issues (PDF)
4 pages. Excerpt: "The Ordinance was effective February 5, 2007, so employers should be designing their employment procedures to comply with the Ordinance's new sick pay and record retention requirements. As noted [on the target page], there also are a number of other state-specific employment law issues of which California employers should be aware." (Groom Law Group)
Microsoft Targets Health Care Industry with Health Search Engine Acquisition
Excerpt: "Microsoft CEO Steve Ballmer at the Health Information and Management Systems Society conference in New Orleans on Monday announced that Microsoft is acquiring Medstory, a California-based health care search engine startup, AP/BusinessWeek reports . . . ." (California HealthCare Foundation; free registration may be required)
Bush Health Plan Would Cost Taxpayers
Excerpt: "President Bush's health insurance proposals would cost taxpayers $526 billion through 2017, according to a preliminary estimate from Congress' Joint Committee on Taxation." (AP via SFGate.com)
Overview on Medicare Part D: The Employer Notice to CMS (PDF)
2 pages. Excerpt: "On or before March 1, 2007 most employers with health plans must submit a notice to the Centers for Medicare and Medicaid Services ('CMS') which describes the prescription drug coverage provided to Medicare-eligible employees, retirees and their covered dependents." (Kutak Rock LLP)
Financial Firms Need to Brace for CDHC Growth
Excerpt: "The number of consumer-driven health care (CDHC) accounts is expected to reach 31 million over the next five years partly due to greater adoption rates and a favorable legislative changes, according to . . . BearingPoint, Inc." (PLANSPONSOR.com; free registration required)
Employment-Based Benefits: Access and Coverage, 1988-2005 (PDF)
24 pages. Excerpt: "There are a number of reasons why workers may not be covered by their own employer's health plan. In 2005, 50.1 percent of workers worked for an employer that did not offer health benefits to any workers. Nearly 18 percent worked for an employer that provided benefits, but were not eligible for them; and nearly one-third were offered benefits but chose not to participate." (Employee Benefit Research Institute)
Opinion: Profit for Some or Health Care for All
Excerpt: "It would be un-American to force Americans to give up their private insurance coverage if they like it or to undo a multi-trillion dollar insurance industry in one fell swoop. But, it is inhumane and unconscionable to offer solutions that we know will not work and wish this health care crisis away, while tens of millions of Americans suffer." (TomPaine.com)
Opinion: America's Doctors Should Support Universal Healthcare -- Pay, Pride and Public Purpose
Excerpt: "We pose 3 arguments as to why physicians should support universal access grounded in medicine's own self-interest, arguments that are largely ignored in the current debate. These are: (1) the need for paying patients, (2) the need for a sense of self-esteem rooted in professionalism rather than commercialism, and (3) the urgency to affirm a public purpose for medicine by promoting the nation's health through universal care." (Medscape; free registration required)
New England States Work To Develop Universal Health Care Systems
Excerpt: "The Hartford Courant on Sunday examined efforts in Massachusetts, Maine and Vermont to establish universal health care systems and proposals to expand coverage in Connecticut." (Kaiser Family Foundation)
Opinion: In Health Care Reform Debate, Single-Payer System is Labor's Only Clear Choice
Excerpt: "Single-payer is not a dream. It's legislation -- House Resolution 676, introduced by Congressmen John Conyers and Dennis Kucinich, with dozens of co-authors. It also has the backing of 235 labor organizations in 40 states, including 17 AFL-CIO state federations and 60 county/regional central labor councils." (Labor Notes via Physicians for a National Health Program)
Opinion: A Skeptic's View: Removing The Ideological Obstacles to Health Care Reform
Excerpt: "The presupposition that improving the U.S. health care system can be accomplished through a simple shift in the financing medium is naive. As in Can.ada, the U.S. system has some serious cost control problems which the financing medium alone cannot resolve." (Health Plan Law blog by Attorney Roy F. Harmon III)
The Health Savings Account Market
Excerpt: "From Spencer's Benefits Reports: Consumer-driven health plans (CDHPs) have the lowest predicted rate of increase in 2007, at 10.5%, followed by point-of-service (POS) plans (11.2%), HMO plans (11.4%), and PPO plans (11.6%), according to the Aon Fall 2006 Health Care Trend Survey." (Wolters Kluwer Law & Business)
Blues Bank Could Hold $500 Million in HSA Deposits in Three Years
Excerpt: "The new bank, based in Sandy, Utah, will provide health care-related banking services in all 50 states, the association says. The bank, among other things, will administer HSAs and other health accounts for the nation's Blues plans." (INSIDE CONSUMER-DIRECTED CARE via AISHealth.com)
Financial Concerns Top the List of Work/Life Challenges
Excerpt: "Financial concerns ranked as the top challenge for workers in 2007, followed by the struggle to find a balance between work and life, according to a recent poll." (PLANSPONSOR.com; free registration required)
Links to Items on Executive Comp, Benefits in General
Testimony: Some Best Practices and Strategies for Engaging and Retaining Older Workers
17 pages. Excerpt: "This testimony highlights issues discussed at a recent forum GAO convened on engaging and retaining older workers, as well as prior GAO work. [Highlights are at http://www.gao.gov/highlights/d07433thigh.pdf.]" (U.S. Government Accountability Office)
Goodyear Ends Pensions and Raises Retirees' Health Costs
Excerpt: "Goodyear Tire & Rubber Co., North America's biggest tiremaker, will scrap its pension program for current workers and raise retiree health-care payments to save as much as $90 million annually." (Bloomberg)
Proxy Season Reminders: Section 162(m) and Executive Compensation (PDF)
4 pages. Excerpt: "As publicly traded companies prepare their 2007 proxy statements and set the parameters for 2007 executive compensation, several issues arise in connection with section 162(m) of the Internal Revenue Code (the Code)." (Morgan, Lewis & Bockius LLP)
How Safe Are Federal Worker Benefits? Don't Answer Too Fast
Excerpt: "Uncle Sam needs money. Where is it going to come from? A few billion in savings could come by reducing federal benefits according to the Congressional Budget Office (CBO)" (FedSmith Inc.)
Reducing Benefits for Federal Employees and Retirees Is Being Considered to Reduce U.S. Deficit
Excerpt: "Congressional number crunchers have released their most recent ideas for decreasing the country's deficit. . . . Many of the ideas from the Congressional Budget Office's February 2007 Budget Options book are recycled, and haven't made it anywhere near being enacted in the past." (GovExec.com)
Chrysler Begins Round of Buyouts
Excerpt: "Chrysler Group and the United Auto Workers union said Wednesday that they had reached agreement on a buyout and early-retirement plan aimed at helping the ailing automaker slash 9,000 hourly jobs from its U.S. payroll." (Los Angeles Times; free registration required)
Towers Perrin U.S. Legislative Tracking Charts -- Human Resources -- Updated February 27, 2007 (PDF)
5 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin)
Hewitt Federal Legislation Quick Guide for February 27, 2007, on Human Resources & Employment Law (PDF)
6 pages. This 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 human resources and employment law. (Hewitt Associates)
Bernanke Renews Call for Action as Population Ages
Excerpt: "Federal Reserve Chairman Ben Bernanke renewed a warning to the U.S. Congress on Wednesday that failure to take action soon to prepare for the retirement of aging Baby Boomers could lead to serious economic harm." (Reuters via The New York Times; free registration required)
Newly Posted Events
Health Care: Priorities in the 110th Congress - Webcast
Nationwide on March 1, 2007
presented by KaiserNetwork.org
Journey deep into the world of IRAs
in Texas on March 13, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Washington on March 13, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in California on March 14, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Texas on March 14, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Texas on March 15, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in California on March 15, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Georgia on March 20, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Texas on March 20, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in South Carolina on March 20, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Florida on March 21, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Georgia on March 21, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Texas on March 21, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Texas on March 22, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Georgia on March 22, 2007
presented by Wolters Kluwer Financial Services
Journey deep into the world of IRAs
in Florida on March 22, 2007
presented by Wolters Kluwer Financial Services
Newly Posted Press Releases
National Employee Benefits Day to Feature Free Webcast on Financial Literacy
International Foundation of Employee Benefit Plans
Unum Expands Buyers Study, Profiles Benefit Trends in Nine Industries
Unum
CoAdvantage Launches New Employee Perks Program
CoAdvantage
Newly Posted or Renewed Job Openings
Attorney - Assistant General Counsel In House
for 1199SEIU Benefit and Pension Funds
in NY
Client Relations Manager
for ING, Financial Services
in IN
Account Mgr-RP
for The Standard Insurance Company
in OR
Vice President, Core Market Sales
for CitiStreet
in ANY STATE
Pension Administration
for Stephen H. Rosen & Associates, Inc.
in NJ
Retirement / Benefits Consultant
for Weaver and Tidwell L.L.P
in TX
Sr. Compliance Analyst
for Principal Financial Group
in IA
Associate Consultant/Personalized Communications
for The Segal Company
in NY
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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