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| July 3, 2007 |
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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.
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Employers Weighing Boomer Retention Against Risk
Excerpt: "[F]or all of the financial reasons boomers have to delay retirement, as well as their knowledge and expertise and employers' efforts to retain them, new studies show that if boomers in fact don't exit the workforce, their poor health may become a financial drain on employers." (Employee Benefit News; free registration required)
Fighting ERISA Erosion
Excerpt: "[O]n Capitol Hill, two bipartisan bills -- the Health Partnership through Creative Federalism Act and the Health Partnership Act -- have been introduced to give states access to federal grants for health reform initiatives such as tax credits, risk-pooling arrangements or single-payer systems. Some of these state plans, lawmakers say, would require Congress to take the unprecedented action of granting an ERISA waiver." (Employee Benefit News; free registration required)
MEWA Loses Preemption Case Against Texas Department of Insurance
Excerpt: "In this case, the Fifth Circuit Court of Appeals addressed claims by a MEWA that its insurance arrangements made it a 'fully insured' MEWA." (Health Plan Law blog by Attorney Roy F. Harmon III)
Working Paper: Maternal Employment, Breastfeeding, & Health: Evidence from Maternity Leave Mandates
Excerpt: "We study their efficacy focusing on a significant increase in maternity leave mandates in Can.ada. We find very large increases in mothers' time away from work post-birth and in the attainment of critical breastfeeding duration thresholds. However, we find little impact on the self-reported indicators of maternal and child health captured in our data." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve full-text)
Overview of the HIPAA Audit and Other Related News (PDF)
3 pages. (Dechert LLP)
Keeping Patients' Details Private, Even from Kin
Excerpt: "[N]ew studies have found that some health care providers apply HIPAA regulations overzealously, leaving family members, caretakers, public health and law enforcement authorities stymied in their efforts to get information. Experts say many providers do not understand the law, have not trained their staff members to apply it judiciously, or are fearful of the threat of fines and jail terms -- although no penalty has been levied in four years." (The New York Times; free registration required)
HMO Rates Expected to Climb Next Year Amid Competition
Excerpt: "Health maintenance organizations are proposing rate hikes for 2008 that are significantly higher than those seen in recent years, according to Hewitt Associates . . . . Hewitt suggested that the rate hikes in part reflect declining enrollment as HMOs compete with consumer-driven health plans." (Financial Week; free registration required)
Big Companies Holding Fast to Employer-Sponsored Health Insurance System
Excerpt: "Rather than run from the ever-escalating health care costs, the large employers, who together provide coverage for more than 8 million workers, plan to embrace the cost challenge head-on." (Managed Care Magazine)
Opinion: High-Deductible Plans Provide Little Comfort for Asset Poor Middle-Income Families (PDF)
8 pages. Excerpt: "As part of an overall health reform package, some California policymakers are promoting, even mandating that all Californians have – at a minimum – health plans with high deductibles and high out-of-pocket costs. Proponents believe that this health coverage, as expensive as it is to use, at the very least can keep people from losing their assets or even filing for bankrup.tcy." (Health Access)
Uncontrolled Hypertension: Cost to Payers and Employers - An Actuarial Analysis (PDF)
47 pages. (Milliman)
Can Employee Communication Cut Your Health Care Costs?
Excerpt: "In 2003, after years of double-digit cost increases at OSRAM SYLVANIA, . . . the company's Co-Directors of HR Services and Systems, were faced with a seemingly impossible corporate mandate: Find a way to manage health care benefits at a 3% growth trend -- indefinitely." (Towers Perrin)
Company Will Charge Employees for Unhealthy Habits in Attempt to Rein in Rising Health Costs
Excerpt: "Unhealthy habits could cost Clarian Health employees a healthy chunk of money as the company tries to rein in rising health care costs. Starting in 2009, Clarian will begin charging workers extra for insurance if they let health risks such as smoking, obesity or high cholesterol go unchecked." (AP via CBS Broadcasting, Inc.)
Multiemployer Plan Considerations As Massachusetts Health Care Reform Begins to Take Effect
Excerpt: "This Capital Checkup highlights the major recent changes in this important and evolving State law initiative as it affects multiemployer health plans . . . ." (The Segal Group, Inc.)
Overview: Massachusetts Starts to Implement Landmark Health Care Reform
Excerpt: "This Capital Checkup highlights the major new changes and interpretations of this important and evolving state law initiative . . . ." (The Segal Group, Inc.)
IRS Proposed Help for Employers with Much Needed Guidance on HSA Rules
Excerpt: "The proposed IRS rules apply to two specific situations: When an employee fails to establish an HSA by Dec. 31 (or when the worker sets up an HSA but fails to notify the employer). When an employer wants to speed up contributions to an account because the employee has incurred medical expenses greater than the amount available in the account." (The Kiplinger Washington Editors)
Links to Items on Executive Comp, Benefits in General
Rev. Rul. 2007-48: Taxability of Beneficiary of Non-Tax-Exempt Employees' Trust (PDF)
18 pages. Includes discussion of income, FICA and FUTA taxes. Amplifies Rev. Rul. 74-299. Excerpt: "Issue: When an employer contributes to a nonexempt employees' trust on behalf of highly compensated employees, what are the Federal tax consequences to the employees, the employer, and the trust of contributions to the trust, vesting of an employee's interest in the trust, and distributions from the trust?" (Internal Revenue Service)
Letter on Financial Accounting and Reporting for Other Post-Employment Benefits in Public Plans (PDF)
2 pages. Excerpt: "On behalf of the American Academy of Actuaries' Joint Committee on Retiree Health, we would like to address misinterpretations of a letter promulgated by our committee. That letter has recently been used as justification for proposed legislation in Texas that would nullify the requirement of governmental entities to establish financial reporting liabilities for promised retiree health benefits." (American Academy of Actuaries)
Overview: Form LM-30 Rules Finalized
Excerpt: "The rules are effective August 16, 2007." (International Foundation of Employee Benefit Plans)
Newly Posted Events
Implementing the Great Game of Business: Tools, Pitfalls and Case Studies
Nationwide on July 18, 2007
presented by National Center for Employee Ownership
The NCEO ESOP Communications Power Point Template
Nationwide on August 2, 2007
presented by National Center for Employee Ownership
Newly Posted Press Releases
Securian's Minnesota Life Group Insurance Hosts Free Web Presentation on Marketing Benefits to Employees
Securian Retirement Services
Premium Conversion Cafeteria Plan Forms Now Available from BenefitPublications.com
Benefit Publications, LLC
SureWest Launches Fitness and Dependent Care Programs to Foster Employee Work/Life Balance
SureWest Communications
Newly Posted or Renewed Job Openings
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Senior Defined Benefit Calculation Analyst
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Valuation / Compliance Specialist
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Vice President - Retirement Sales
for John Mulligan & Associates
in AL, CA, CO, CT, DC, DE, FL, IL, IN, LA, MA, MD, MS, NH, NJ, NY, OR, PA, TN, TX, WA
Vice President Compliance
for Fidelity Investments
in KY
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