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| May 25, 2007 |
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Many in Civil Unions in New Jersey Claim Denial of Benefits
Excerpt: "Nearly one in eight couples joined under New Jersey's civil union law say their employers or insurers have denied them the benefits to which they are legally entitled." (North Jersey Media Group Inc.)
Merrill Lynch Slashes Sick Days
Excerpt: "Merrill Lynch & Co. has trimmed employees' sick days from 40 to 10, according to an internal memo." (Investment News; free registration required)
BlueCross BlueShield of South Carolina Launches Subsidiary To Facilitate Medical Tourism
Excerpt: "BlueCross BlueShield of South Carolina recently launched a subsidiary, Companion Global Healthcare, to help U.S. patients plan trips to Thailand for lower-cost medical procedures, the Charleston Post and Courier reports." (Kaiser Family Foundation)
Bipartisan Bills Introduced in Congress To Enable Funding of Special Health Courts
Excerpt: "Common Good, the nonpartisan legal reform coalition, announced today that identical bipartisan bills have been introduced in both the U.S. Senate and the U.S. House of Representatives that would enable states to create special health courts on a pilot project basis." (PR Newswire Association LLC via pharmasentry)
NFL Retiree Health Plan Seen As 'Lip Service'
Excerpt: "[It was announced] that the NFL, the NFL Players Association, the NFL Retired Players Association, the NFL Alumni Association, NFL Charities and the Pro Football Hall of Fame will collaborate 'to address the medical needs of former players.' In a . . . mission statement, the alliance vowed to explore better ways to identify players who need financial help but are too proud to ask and to work with health-care facilities throughout the country for discounted medical care for retirees." (Blue Cross and Blue Shield Association)
Overview: Treasury Reversal on Tax Exclusions for Self-Funded Plans
Excerpt: "The Dept. of the Treasury has reversed its position on provisions of the Pension Protection Act of 2006 that would extend tax advantages to self-funded health, long-term care, and accident plans." (ICMA-RC)
Testimony on Small Business Health Insurance Coverage Using the Private Reinsurance Market (PDF)
7 pages. Excerpt: "On behalf of the Academy's Reinsurance Work Group, my testimony will first provide a brief description of medical reinsurance in order to introduce basic terminology and provide a framework of reference when discussing reinsurance proposals. And then, it will outline the issues recommended for policymakers to consider when designing and implementing a reinsurance program." (American Academy of Actuaries)
States and Small Business Health Insurance: An Overview Updated May 2007
Excerpt: "Small businesses often pay more for employee health benefits because they don't have the buying power of big employers. As both workers and small employers feel the financial squeeze, fewer are able to afford to offer, or purchase, health insurance coverage." (National Conference of State Legislatures)
Workers Ready to Play Role in Health Cost Containment, According to Watson Wyatt
Excerpt: "Even as health care costs continue their upward spiral, most workers say they are ready to live healthier lives to help control their treatment bills and so they can enjoy a healthier retirement." (PLANSPONSOR.com; free registration required)
State Health Care Reform Versus ERISA Preemption - Congress Takes on the Issue
Excerpt: "In counterpoint, Amy Moore of Covington and Burling, makes the case that granting ERISA waivers for state health care reform will frustrate a fundamental ERISA policy of facilitating the sponsorship and administration of employer-based benefit plans on a national level. She notes, among other things, the prevalence of employment-based health coverage under ERISA, and that ERISA waivers will impede the provision of that coverage." (Health Plan Law blog by Attorney Roy F. Harmon III)
The Massachusetts Health Care Reform Act – What Employers Need to Know
Excerpt: "This article summarizes some of the key features of the Act and addresses the compliance steps employers need to consider." (McDermott Will & Emery)
Illinois Senate Passes Breast Cancer Examination Mandate
Excerpt: "Illinois became the second state behind Oregon to pass legislation that orders health insurance coverage to include breast cancer exams for women, Business Insurance reported." (PLANSPONSOR.com; free registration required)
Commentary: A Perfect Opportunity for Health Reform
Excerpt: "A confluence of forces provides an almost perfect opportunity for health reform this year. Not the perfect reform, perhaps, but one that would significantly improve a sadly flagging system. The only obstacle -- a big one -- is politics." (C. Eugene Steuerle via The Urban Institute)
Health Savings Accounts: State Legislation 2004-2007, Updated May 2007
Excerpt: "As of October 2006, 'Inside Consumer-Directed Care' Newsletter reported that 'just four' states have structural impediments to HSA-HDHP pairing: Alabama, California, New Jersey and Wisconsin. Three other states - Illinois, Missouri and New York - have 'HMO deductible limitations and/or mandated benefit impediments to offering an HSA-based plan according to AHIP spokesperson Mohit Ghose." (National Conference of State Legislatures)
Congress Putting Long-Term Care Insurance Industry Under Scrutiny
Excerpt: "A Congressional committee yesterday began looking into business practices in the long-term care insurance industry. The House Committee on Energy and Commerce has asked Conseco and the Penn Treaty American Corporation, two of the nation's largest sellers of long-term care insurance, to produce documents showing how the companies market long-term care policies and handle policyholder claims." (The New York Times; free registration required)
Links to Items on Executive Comp, Benefits in General
G.M. Expects to Pay a Total of $7 Billion for Delphi Workers' Retirement Costs
Excerpt: "General Motors said on Thursday that it expected to take a $1 billion charge in the second quarter and pay a total of $7 billion to cover retirement costs for workers at the Delphi Corporation, its former parts division." (The New York Times; free registration required)
Will Executive Stock Option Issues Drive the Next Wave of Pension Litigation?
Excerpt: "Summary: More than one hundred companies are in the regulators' crosshairs for questions about options backdating. Plan fiduciaries should recognize their responsibilities to ask how options are granted, priced and timed." (Journal of Compensation and Benefits via Pension Governance; full-text available upon agreement to terms of use)
India Clarifies Fringe Benefits Tax on Employee Stock Options
Excerpt: "On May 11, 2007, the president of India assented to India's Finance Bill 2007, thereby enacting India's budget for the 2007-2008 fiscal year. . . . The amendments to the original budget include certain clarifications as to the application of India's fringe benefits tax (FBT) on employers for stock options granted to employees in India." (Wilson Sonsini Goodrich & Rosati)
Technical Explanation of, and Pension Related Provisions Contained in, H.R. 2206 (PDF)
47 pages. Excerpt: "This document, prepared by the staff of the Joint Committee on Taxation, provides a technical explanation of the 'Small Business and Work Opportunity Tax Act of 2007' and pension related provisions contained in H.R. 2206 as considered by the House of Representatives on May 24, 2007." (U.S. Joint Committee on Taxation)
Overview: USERRA and the Five-Year Rule
Excerpt: "Now that five years have elapsed since the beginning of U.S. Military's engagement in Afghanistan, it is imperative that employers understand the rights and obligations created by, or derived from, USERRA, especially before making any termination decisions concerning employees who have been absent on military leave for five years." (Littler Mendelson, P.C.)
Newly Posted Events
Estate Planning Considerations for Qualified Plans and IRAs
in New York on June 13, 2007
presented by SunGard Relius
Estate Planning Considerations for Qualified Plans and IRAs
in Pennsylvania on June 14, 2007
presented by SunGard Relius
Estate Planning Considerations for Qualified Plans and IRAs
in District of Columbia on June 15, 2007
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Illinois on June 20, 2007
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Kansas on June 20, 2007
presented by SunGard Relius
Navigating Form 5500 for Health and Welfare Plans -- A Guided Tour for Employers and TPAs
Nationwide on May 17, 2007
presented by Employee Benefits Institute of America Inc. (EBIA)
Newly Posted Press Releases
Safety-Kleen and Oklahoma Employees Benefits Council Honored by SouthWest Benefits Association for Retirement and Health Benefits Best Practices
SouthWest Benefits Association
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Implementation Analyst
for Mercer HR Services
in MA
Implementation Manager
for Mercer HR Services
in MA
Administrative Asst
for Standard Insurance Company
in OH
Account Executive - Retirement Service
for The Principal Financial Group
in MA
Regional Sales Consultant - Detroit, IL Area
for Gallagher Retirement Services
in IL
Pension Actuary
for Sheffler Consulting Actuaries, Inc
in CA
Forms Processing Specialist
for Milliman, Inc.
in TX
Plan Implementation Specialist
for BenefitStreet, Inc.
in KS
Plan Specialist – Plan Sponsor Desk (Los Angeles)
for Transamerica Retirement Services
in CA
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- Using the Web for Employee Benefits Research (hypertext article)
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