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| June 1, 2007 |
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Summary: IRS Prop. Regs. on Employer Comparable Contributions to HSAs Under Sec. 4980G
Excerpt: "Employers may rely on the proposed regulations until they are finalized. Alternately, employers may continue to rely on prior proposed regulations, under which the employers are not required to make comparable contributions for employees who have not established HSAs by the end of the year." (CCH Tax News)
IRS Proposes Accelerated HSA Contributions
Excerpt: "Regulations proposed [yesterday] by the Internal Revenue Service would allow employers that contribute to employees' health savings accounts to accelerate contributions for employees whose medical care expenses are greater than what the employer has so far contributed to the HSA during the year." (Business Insurance)
Massachusetts' Cafeteria Plan Mandate: What Multiemployer Health Plans Need to Know
Excerpt: "A key element of the new law requires most employers with 11 or more employees in the state to establish and maintain an Internal Revenue Code (IRC) Section 125 cafeteria plan in accordance with rules set forth by the Commonwealth Health Insurance Connector Authority (the 'Connector'). The cafeteria plan requirement is effective July 1, 2007. However, . . . many employers that contribute to a multiemployer health plan should be exempt from this requirement." (The Segal Group, Inc.)
New Hampshire Governor Signs Civil Unions Law
Excerpt: "Gov. John Lynch has signed a law establishing civil unions for same-sex couples in New Hampshire, allowing them to apply for the same rights as married people as early as January." (AP via Yahoo! News)
ERISA Update: Federal Court of Appeals Agrees ERISA Preempts Maryland's 'Fair Share Act' (PDF)
Excerpt: "Rejecting the idea that ERISA does not preempt a state law allowing employers to 'opt out' of a state requirement, the Court of Appeals cited Egelhoff v. Egelhoff, a 2001 Supreme Court case that held ERISA preempted a Washington state law requiring plan administrators to pay benefits to state-designated beneficiaries of nonprobate assets (including ERISA-governed life insurance policies), rather than the beneficiaries designated in plan documents." (AcademyHealth / National Academy for State Health Policy)
CalSTRS Report Sees No End to Rising Health Care Rates Squeezing Retirees
Excerpt: "Thousands of California educators have seen school districts pare or even eliminate retiree health benefits in recent years, according to the CalSTRS survey, presented in detail Thursday in Rancho Cucamonga to Gov. Arnold Schwarzenegger's special Public Employee Post-Employment Benefits Commission." (The Sacramento Bee; free registration required)
Regulation of Health Insurance Rates in California Up for Vote
Excerpt: "The Assembly Appropriations Committee on Thursday is scheduled to vote on a measure (AB 1554) that would require health insurers to seek approval from California regulators for premium, copayment and deductible increases, the San Francisco Chronicle reports." (California Healthline)
Military Health Care: TRICARE Cost-Sharing Proposals
52 pages. Excerpt: "In light of the fact that [DOD] health care spending more than doubled from 2000 to 2005 and continues to escalate, DOD proposed increasing the share of health care costs paid by TRICARE beneficiaries, under a proposal known as Sustain the Benefit. DOD estimated that if the proposal had been implemented in fiscal year 2007, savings would amount to over $11 billion through fiscal year 2011. [Highlights of the report are at http://www.gao.gov/highlights/d07647high.pdf.]" (U.S. Government Accountability Office)
Retiree Health Benefits: Majority of Sponsors Continued to Offer Prescription Drug Coverage
62 pages. Excerpt: "In this . . . study, GAO determined which MMA prescription drug coverage options sponsors selected, the factors they considered in selecting these options, and the effect these decisions may have on the provision of employment-based health benefits for retirees. [Highlights of the report are at http://www.gao.gov/highlights/d07572high.pdf.]" (U.S. Government Accountability Office)
From Responsibility to Action - Making Benefit Change Work (PDF)
24 pages. Excerpt: "Our survey results can help employers understand some of the broader implications of benefit change and plot a course for future success. [This report provides] a closer look at our findings." (Towers Perrin)
Podcast/Transcript/Slides: What Health Care Can Learn from Boeing
Excerpt: "One answer for health care can be found in an unlikely place -- in another industry, in fact: aerospace. Let's turn to the story of the Boeing 787 Dreamliner - a tale of how visionary thinking in a time of crisis can turn despair into hope for the future." (Health Politics)
Colorado's Guv Signs Mental Health Bills
Excerpt: "Colorado's mental health community cheered Wednesday when Gov. Bill Ritter signed into law a bill that adds eating disorders, post traumatic stress syndrome and other mental illnesses to the list of what must be covered by health insurance." (Rocky Mountain News)
Opinion: Conventional Wisdom in Health Care Reform: And Why Most of It Is Wrong (PDF)
2 pages. Excerpt: "In this policy paper, CAHI Executive Director Dr. Merrill Matthews discusses some of the common misconceptions about health care in the United States. It is important that policymakers understand what's right and wrong with the U.S. health care system before they engage in a costly effort to try and 'fix' it." (Council for Affordable Health Insurance)
Links to Items on Executive Comp, Benefits in General
GASB Says Statement No. 50, Pension Disclosures, Amends GASB Statements No. 25, and No. 27
Excerpt: "The provisions of Statement 50 generally are effective for periods beginning after June 15, 2007, with early implementation encouraged. The requirements relating to governments using the aggregate actuarial cost method are effective for financial statements and required supplementary information that contains information from actuarial valuations as of June 15, 2007, or later." (PLANSPONSOR.com; free registration required)
Overview of Section 409A -- Action Steps Required in 2007 (PDF)
7 pages. Excerpt: "This advisory focuses on action steps that must be taken during 2007 to comply with Section 409A. Accordingly, this advisory presents only a very general overview of the requirements of Section 409A." (Alston & Bird LLP)
HR Should Beware Corporate Executives Deciding to Secretly Backdate Stock Options
Excerpt: "When it comes to the complex and, at times, sensitive matter of stock-option grants for top executives, HR can ill afford to trust that everything will be just fine if they let others worry about the details." (Human Resource Executive Online; free registration required)
2 Companies Settle Charges of Backdating stock options
Excerpt: "Two technology companies, Brocade Communications Systems and Mercury Interactive, [yesterday] became the first two companies to pay fines to settle federal accusations of civil fraud in connection with backdated stock options." (AP via The New York Times; free registration required)
Newly Posted Events
2007 Spring Webinar Series: 401(k) Bootcamp
Nationwide on June 19, 2007
presented by Polycomp Administrative Services, Inc.
2007 Spring Webinar Series: Check-in for a Check-up
Nationwide on June 12, 2007
presented by Polycomp Administrative Services, Inc.
2007 Spring Webinar Series: Check-in for a Check-up
Nationwide on June 13, 2007
presented by Polycomp Administrative Services, Inc.
2007 Spring Webinar Series: How To Be Your Client's Hero Under the Pension Protection Act (PPA 2006)
Nationwide on June 14, 2007
presented by Polycomp Administrative Services, Inc.
2007 Spring Webinar Series: How to Take Advantage of Changes Under the Pension Protection Act (PPA 2006)
Nationwide on June 14, 2007
presented by Polycomp Administrative Services, Inc.
2007 Spring Webinar Series: Prospecting Under the Pension Protection Act (PPA 2006)
Nationwide on June 13, 2007
presented by Polycomp Administrative Services, Inc.
No Employee Left Behind
in Ohio on June 14, 2007
presented by ASPPA Benefits Council of Cleveland
Newly Posted Press Releases
U.S. Labor Department Obtains Independent Fiduciary To Oversee Texas Health Benefit Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Principal Financial Group Offers New Retirement Savings Platform for Underserved Micro-market
Principal Financial Group
New Of Counsel Specializing in Tax and Employee Benefits
Reish Luftman Reicher & Cohen
InterOcean Retirement Services Introduces The Fiduciary Compass
InterOcean Wealth Management
Arby's® Helps Office Workers Take a Real Lunch Break
Arby's Restaurant Group, Inc.
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
401(k)/DC Administrator
for Levy & Associates in Sunny Ft. Lauderdale, Florida
in FL
Consulting/Marketing Manager
for Associated Pension Consultants
in CA
Paralegal
for 1199SEIU Benefit and Pension Funds
in NY
Conversion Manager II
for Automatic Data Processing
in KY
Benefits and Compensation Manager
for Holy Spirit Health System
in PA
Associate Product Manager
for Citi-Smith Barney
in NY
ERISA/Financial Services Attorney
for Financial Engines
in CA
Client Relationship Manager - San Mateo, CA
for Transamerica Retirement Services
in CA
Client Services Representative - DC Plans
for Summit Retirement Plan Services, Inc.
in OH
Institutional Trust Communication Specialist
for BB&T - Branch Banking & Trust
in DC, MD, VA
Client Relationship Manager-Los Angeles, CA or Denver, CO
for Transamerica Retirement Services
in CA, CO
Handy Links:
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- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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