| BenefitsLink Welfare Plans Newsletter |   |
March 2, 2007
Sponsored by: Employee Benefits Institute of America Inc. (EBIA)
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| 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. |
Most Support U.S. Guarantee of Health Care, According to Poll
Excerpt: "A majority of Americans say the federal government should guarantee health insurance to every American, especially children, and are willing to pay higher taxes to do it, according to the latest New York Times/CBS News poll." (The New York Times; free registration required)
How Long Before It Is Too Late? -- ERISA Claims and Limitation of Actions by Contract
Excerpt: "In this claim for benefits case under ERISA § 502(a)(1)(B) (29 U.S.C. § 1132(a)(1)(B)), the critical issue was the applicable statute of limitations. Koert v. GE Group Life Assur. Co, 2007 WL 595028 C.A.3 (Pa.) (February 27, 2007). Always a potential hazard for plaintiffs, limitations period issues in ERISA can be particularly tricky as this case illustrates." (Health Plan Law blog by Attorney Roy F. Harmon III)
Sixth Circuit Permits ERISA Fiduciary Claim Against Employer Misquoting Benefits
Excerpt: "In this well-reasoned opinion, the Sixth Circuit addressed the complex question of when a claim may be stated for breach of fiduciary duty under 29 U.S.C. § 1132(a)(3) (cross reference: ERISA Section 502(a)(3))." (Health Plan Law blog by Attorney Roy F. Harmon III)
Overview: Qualified HSA Distributions
Excerpt: "Plan sponsors wishing to make Qualified HSA Distributions of amounts remaining from a 2006 calendar year plan year must amend their plans by March 15, 2007." (SunGard Corbel LLC)
Termination of Employee Due to Performance Concerns Did Not Violate the FMLA, Third Circuit Says
Excerpt: "from Spencer's Benefits Reports: An employer did not violate the Family and Medical Leave Act (FMLA) when it terminated an employee due to concerns about the employee's management of a large account. This was the decision of the Third Circuit U.S. Court of Appeals in Holpp v. Integrated Communications Corp. (No. 06-1234)." (Wolters Kluwer Law & Business)
Local Health Care Collaboratives Would Provide Cost and Quality Reports of Health Care Providers
Excerpt: "HHS Secretary Mike Leavitt . . . announced a new proposal to establish local collaboratives to provide public reports on the cost and quality of health care providers as part of an effort to increase health care transparency, CQ HealthBeat reports." (Kaiser Family Foundation)
Some Insurers Raise Drug Prices After Enrollment
Excerpt: "More than a fourth of insurers in the new Medicare drug benefit raised enrollees' annual costs in 2006, often after members were locked in for the year, says Consumers Union, publisher of Consumer Reports." (USA TODAY via California Nurses Association / National Nurses Organizing Committee)
When Kids Get Sick, Insurance Matters
Excerpt: "[W]hat happens when an uninsured child is seriously injured or develops a condition that requires hospitalization? Does health insurance make a difference in the child's treatment and health outcomes? The answer is an emphatic 'yes.'" (Families USA)
When Is a Release Requirement Not a Release Requirement?
Excerpt: "In a bizarre opinion issued on February 20, 2007, the Sixth Circuit reversed the district court and awarded severance benefits to the plaintiff in Godleski v. FirstEnergy Corp., et al., even though he had not signed the release the employer thought was a precondition to the receipt of those benefits." (Paul, Hastings, Janofsky & Walker LLP)
Achieving Successful Benefits Integration with Multiple Carriers
Excerpt: "Today, effective benefit design considers not only costs on budget lines but costs to human capital. More than ever, employers are interested in health and productivity data and what that data means horizontally across integrated benefits." (Employee Benefit News)
Employers Must Take Steps to Ensure CDHPs, Disability Plans Not at Odds
Excerpt: "For employers introducing consumer-driven health plans, be careful to avoid plan designs that could inflate disability claims. When not designed well, the two benefits could work at cross-purposes, health experts say." (Employee Benefit News)
Links to Items on Executive Comp, Benefits in General
Hearing Statement: The Aging Workforce: What Does It Mean for Businesses and the Economy (PDF)
Excerpt: "We would urge you to focus on the role that phased (or 'flexible') retirement programs can play in meeting the needs of both workers and employers, as well as in bolstering the economy and relieving burdens on government programs. Under current law, there are certain obstacles to the ability of employers to implement these 'win-win' programs and, as the population ages, the disconnect between the law and the needs of the workplace will expand." (American Benefits Council and HR Policy Association)
Working Paper: Job Changes at Older Ages: Effects on Wages, Benefits, and Other Job Attributes
Excerpt: "This study examines older Americans' employment opportunities by studying job changes at older ages. Using data from the Health and Retirement Study, it compares wages, benefits, and other job attributes on new and former jobs for adults ages 45 to 75 who changed employers between 1986 and 2004." (Center for Retirement Research at Boston College)
Working Paper: Saving and Demographic Change: The Global Dimension
Excerpt: "This paper uses a panel data set of 85 countries covering 1960-2005 to investigate the macroeconomic linkages between national rates of saving and investment and population aging. The issue takes on added significance because of the recent suggestion that the decline in global interest rates has been driven by demographic changes in the industrial economies." (Center for Retirement Research at Boston College)
Ford Says Restructuring to Cost $11.18B
Excerpt: "Ford Motor Co. said Wednesday that its restructuring plan would likely cost $11.18 billion, with more than half of the expenses devoted to programs for laid-off workers." (AP via The Washington Post; free registration required)
New Regulations Prompting Many Companies to Reconsider Executive Perks
Excerpt: "From supplemental executive retirement plans to tax assistance, investment counseling, golf club memberships and spousal travel -- even such seemingly innocuous items as drycleaning and reserved parking spaces -- boards of directors are taking a closer look at whether offering such perks is worth the scrutiny and potential embarrassment." (Human Resource Executive Online; free registration required)
AALU Chief Gives Mixed Report on Deferred Compensation Legislative Effort
Excerpt: "Insurance groups are 'making significant progress' at persuading members of Congress that the deferred compensation plan changes included in the Senate minimum wage bill are inappropriate, one leader says." (National Underwriter Life & Health; free registration or paid subscription required)
Overview: IRS Release of Executive Compensation Report (PDF)
2 pages. Excerpt: "[March 1, 2007], the IRS released a report describing the results of its Exempt Organizations Executive Compensation Compliance Project. (To view the report, please visit http://www.irs.gov/pub/irstege/exec._comp._final.pdf)" (Morgan, Lewis & Bockius LLP)
Newly Posted Events
401(k) Plans
in Minnesota on May 8, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
401(k) Plans
in Massachusetts on May 15, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
401(k) Plans
in Georgia on May 22, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
401(k) Testing Techniques - 6 added locations
Nationwide on March 28, 2007
presented by SunGard Relius
Cafeteria Plans
in Minnesota on May 9, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Cafeteria Plans
in Massachusetts on May 16, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Cafeteria Plans
in Georgia on May 23, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
COBRA Compliance for Group Health Plans
in Minnesota on May 11, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
COBRA Compliance for Group Health Plans
in Massachusetts on May 18, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
COBRA Compliance for Group Health Plans
in Georgia on May 25, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
ERISA Compliance for Health & Welfare Plans
in Minnesota on May 10, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
ERISA Compliance for Health & Welfare Plans
in Massachusetts on May 17, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
ERISA Compliance for Health & Welfare Plans
in Georgia on May 24, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Follow the Money: DOL Initiatives and New Litigation on Service Provider Revenue Sharing
Nationwide on March 29, 2007
presented by ABA Joint Committee on Employee Benefits
Governor's Health Plan Initiative AND San Francisco Paid Sick Leave
in California on March 15, 2007
presented by No. Calif. Chapter of Certified Employee Benefits Specialists (ISCEBS)
HIPAA Portability, Privacy & Security
in Minnesota on May 11, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA Portability, Privacy & Security
in Massachusetts on May 18, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA Portability, Privacy & Security
in Georgia on May 25, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
HSAs, HRAs, and Consumer-Driven Health Care
in Minnesota on May 10, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
HSAs, HRAs, and Consumer-Driven Health Care
in Massachusetts on May 17, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
HSAs, HRAs, and Consumer-Driven Health Care
in Georgia on May 24, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Nonspouse Rollovers after PPA
Nationwide on March 27, 2007
presented by SunGard Relius
Participant Forms and Notices Workshop - 6 added locations
Nationwide on March 28, 2007
presented by SunGard Relius
Newly Posted Press Releases
NCPERS Partners In Creation Of New Trustee Education Program
National Conference on Public Employee Retirement Systems
Ten of the Nation’s 100 Best Companies to Work for Offer Commuter Check Benefit Solutions
Accor Services North America
New MyHealthCoach.com Website Helps Employers Control Healthcare Costs and Encourage Healthy Lifestyles
Hummingbird Coaching Services
CCH CompleteTax Survey: Young Taxpayers in the Dark on Tax-related Benefits
CCH, a Wolters Kluwer business
Newly Posted or Renewed Job Openings
Pension Administrator
for Southern Pension Services
in FL
Director/VP Client Services
for Fidelity Investments
in NH
Retirement Program Director
for Fidelity Investments
in RI
Sr Relationship Manager
for T Rowe Price
in MD
Sr. Employee Benefit Specialist
for The Principal Financial Group
in IN
Pension Administrator
for Jordan & Andrews
in CA
Director, Testing & Reporting Services
for Fidelity Investments
in KY, TX
401k Conversion Implementation Project Manager
for Fidelity Investments
in KY, MA, TX
Analyst
for ESOP Economics, Inc.
in PA
Retirement Plan Service Representative
for Growing, Dynamic Financial Services Firm
in TX
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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