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| May 22, 2007 |
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Massachusetts Provides Model Documents and Other Guidance on Section 125 Plan Requirement (PDF)
Excerpt: "The Connector recently issued additional guidance for employers on this requirement, including model documents that may be used to establish a plan and communicate it to employees." (Buck Consultants)
Presentation: The Impact of New Jersey Civil Union Law on HR, Benefits & HRIS (PDF)
22 pages. Excerpt: "New Jersey one of a number of States to extend marriage-like rights to same-sex partners: Massachusetts extends actual marriage to same-sex partners (along with Belgium, Can.ada, the Netherlands, South Africa and Spain); Connecticut, Vermont and soon New Hampshire offer civil unions; California, Maine, Hawaii and District of Columbia recognize domestic partnerships" (Morgan, Lewis & Bockius LLP)
States Aim to Extend Reach of Paid Family Leave
Excerpt: "Washington state legislators enacted a paid family leave law this month, and as the movement gathers steam, similar pieces of legislation are wending their way through statehouses in Illinois, Massachusetts, New Jersey, New York, Oregon and Texas." (Workforce Management; free registration required)
Job-Sharing Is an Alternative That's Gaining Greater Acceptance
Excerpt: "For the employees, pay and benefits are shared in proportion to the hours each works. Job-sharers may work split days, split weeks or alternate weeks. Often, at least a limited amount of hours are shared in the office each week to allow for effective transitions and collaboration." (New York Daily News)
Texas May Reject GASB's Rules Governing Retiree Health Care Cost Disclosure
Excerpt: "Reportedly, the Texas Senate is expected to vote before Memorial Day on a 'softened' version of the House bill which would permit the affected governmental units to adopt and apply the GASB rules but not require them to do so." (Pension & Benefits Blog)
Cancer Care Seeks to Take Patients Beyond Survival
Excerpt: "The realization that cancer and its aftermath can go on for years has given rise to a medical specialty known as survivorship. At several major hospitals around the country, survivor programs financed by the Lance Armstrong Foundation are focusing on life after cancer." (Blue Cross and Blue Shield Association)
Lawmakers Hear Concerns on Potential Health Premium Increases
Excerpt: "Increased enrollment in consumer-directed health plans could result in higher premiums and reduced benefits for federal employees and retirees signed up for more comprehensive, traditional offerings, a witness told lawmakers at a hearing Friday." (GovExec.com)
Counterpoint: A Case Against State Regulation of Pharmacy Benefit Services Providers
Excerpt: "On the surface, many of the bills proposed and the recent laws passed, appear to be calling for more openness between vendor and client, which is a good concept in principle. However, when you drill into the legislation you quickly see that in fact state legislators are attempting to run our businesses for us by mandating that we share revenues and assume fiduciary responsibilities without consideration for the associated risks." (Managed Healthcare Executive)
Insurer Finds Cost Benefit from Member Exercise Program
Excerpt: "A new study released by Medica and Life Time Fitness demonstrates that Medica members who began a new, regular program of exercise at Life Time Fitness centers saw a decrease in claim costs after two years in the program." (PLANSPONSOR.com; free registration required)
Overview: 2008 Minimums/Maximums for Health Savings Accounts Plans & High-Deductible Health Plans
Excerpt: "Before the Tax Relief and Health Care Act of 2006, contributions to an HSA were limited to the lesser of the annual deductible under the companion HDHP or the indexed amount. The Act removed the link to the annual HDHP deductible for tax years beginning after December 31, 2006. This higher permissible contribution was expected to increase interest in HSAs." (The Segal Group, Inc.)
5 States Resuscitating Health Care Insurance
Excerpt: "From California to New Hampshire and in between, many states are in the process of adopting universal or near-universal health insurance. Whether this will prove to be a real commitment remains to be seen, but at least nearly every state is talking about helping entrepreneurs and their employees. While many states are waging praiseworthy battles, here are five standout states that seem to be particularly good allies of beleaguered business owners." (MSNBC.com)
Oregon Contraceptive Coverage Law Moves One Step Closer to Approval
Excerpt: "A bill that would give prescription contraceptives the same insurance coverage as other prescriptions won a victory in the Oregon House and now only needs the Governor's signature." (PLANSPONSOR.com; free registration required)
Opinion: A Glimpse into America's Health Care Mess
Excerpt: "The medical and insurance lobbies have been busy blocking national health care programs since they were first seriously proposed back in the 1920's -- and the result has been millions of premature deaths in this country because of people falling through the cracks. Doctors fighting universal coverage have been saving lives in their day jobs while costing lives with their lobbying." (The New York Times via Physicians for a National Health Program)
Moore's Film Offers New Talking Points in Health Care Debate
Excerpt: "Few of them may become Michael Moore fans. But some insurance industry officials and health policy experts acknowledged yesterday that the film documentary 'Sicko,' Mr. Moore's indictment of health care in this country, taps into widespread public concern that the system does not work for millions of Americans." (The New York Times; free registration required)
Single-Payer Health Care System Most Efficient, Columnist Kristof Writes
Excerpt: "'Let's hope that the presidential campaign helps lead us toward a new health care system,' columnist Nicholas Kristof writes in a New York Times opinion piece." (Kaiser Family Foundation)
Who Buys Long?Term Care Insurance? A 15-Year Study of Buyers and Non-Buyers, 1990-2005 (PDF)
60 pages. Excerpt: "Our study included 10 companies who together represent more than 80 percent of all LTC insurance purchased in 2005. Our sample includes 1,274 purchasers of LTC insurance and 214 non-buyers, as well as design information on 8,208 policies. In addition, 500 individuals age 50 and over were surveyed from the general population." (America's Health Insurance Plans)
Who Buys Long-Term Care Insurance? A 15-Year Study of Buyers and Non-Buyers, 1990-2005 (PDF)
60 pages. Excerpt: "Our study included 10 companies who together represent more than 80 percent of all LTC insurance purchased in 2005. Our sample includes 1,274 purchasers of LTC insurance and 214 non-buyers, as well as design information on 8,208 policies. In addition, 500 individuals age 50 and over were surveyed from the general population." (America's Health Insurance Plans)
Links to Items on Executive Comp, Benefits in General
Solicitor General Supports Petitioner's Position in LaRue v. DeWolff, Boberg & Associates, Inc
Excerpt: "The Fourth Circuit decision in LaRue v. DeWolff, Boberg & Associates, Inc., 450 F.3d 570 (4th Cir.2006) involves issues of relief under both Section 502(a)(2) and 502(a)(3). As to the Section 502(a)(2), the question is one of whether a participant in a defined contribution plan can seek individualized relief as a proxy for the plan as required by that provision." (Health Plan Law blog by Attorney Roy F. Harmon III)
Chicago Transit Authority Would Reform Retirement and Health Insurance Plans
Excerpt: "CTA officials uncorked proposals Monday to save an estimated $32 million a year by requiring transit agency employees and retirees to pay more toward pensions and health insurance." (Chicago Tribune; free registration required)
Selecting the Right Employee Self-Service System
Excerpt: "Use of employee self-service continues to grow. Towers Perrin reported that at least 80% of companies were expected to use self-service in 2006 to help employees enroll in annual benefits, view benefit plans and policies, access wellness information, view 401(k) balances, change personal data, view pay stubs and view job postings." (Employee Benefit News)
Public Company Update: SEC Director Comments on Latest Executive Compensation Disclosures (PDF)
3 pages. Excerpt: "The Director of the SEC's Division of Corporation Finance, John White, recently provided a preview of the areas that are under particular scrutiny, as the SEC's Staff reviews the first wave of proxy statements filed under the new executive compensation disclosure rules." (Pillsbury Winthrop Shaw Pittman LLP)
Chapter on Severance: From Individual Agreements to Broad-Based Plans (PDF)
12 pages. Excerpt: "The design and operation of severance-related plans, policies, programs and agreements involve complex corporate, tax and securities issues. When poorly designed or administered, they expose an employer to risks ranging from litigation to embarrassing disclosures in proxy statements for U.S. public companies. Careful attention enables arrangements of this kind to achieve goals ranging from retaining key employees to protecting the employer from their flight to a competitor." (Human Resources 2007 via Paul, Hastings, Janofsky & Walker LLP)
Chamber Comments on DOE Contractor Employee Pension & Medical Benefits Challenge (PDF)
3 pages. (U.S. Chamber of Commerce)
Opinion: Horror Flick at USA Today: Return of the Granny Bashers XCIV
Excerpt: "USA Today decided to get its entry in the summer horror flicks out early, The Return of the Granny Bashers XCIV tells readers how the affluent elderly are ripping off their children and grandchildren by collecting Social Security and Medicare (ahhhhhhhhhhhhhhhhh!)." (The American Prospect)
Newly Posted Events
Final Roth Regulations
Nationwide on May 31, 2007
presented by Convergent Retirement Plan Solutions, LLC
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
401(k) / DC Administrator
for Columbia Benefits Consultants, Inc.
in MD
Pension Administrator
for The Senex Group
in CA
Consultant
for Kravitz - Louis Kravitz & Associates
in CA
Plan Consultant Opportunity
for Weaver Partners, Inc.
in ANY STATE
401(k) Administrator
for The Pension Group, Inc.
in CA
Actuarial Asst
for Standard Insurance Company
in OR
Retirement Sales Consultant
for Standard Insurance Company
in WA
Senior Retirement Plan Consultant
for Standard Insurance Company
in OR
Retirement Sales Consultant
for Standard Insurance Company
in MI
Assistant Actuary
for Standard Insurance Company
in OR
Manager - Regional Client Services
for Standard Insurance Company
in CA
Account Manager-Retirement Plans
for Standard Insurance Company
in OR
Assistant Director - Provider Relations
for 1199SEIU Benefit and Pension Funds
in NY
Institutional Sales Executive
for AMERICAN Financial Search, LLC
in ANY STATE, AL, FL, GA, IN, MO, TX
Compliance Specialist - Defined Benefits
for MassMutual Financial Group
in MA
Retirement Plan Consultant
for Horan Securities, Inc.
in OH
Sr. Compliance Analyst
for T. Rowe Price
in CO
Benefits Manager
for Live Nation
in CA
Sr. Manager, Benefits
for Convergys Corporation
in DE, FL
Employee Benefits Account Manager
for L/B/W Insurance & Financial Services, Inc.
in CA
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