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| July 10, 2007 |
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Overview on Health Benefit Cards: New Rules for 2008 and Beyond (PDF)
15 pages. Excerpt: "The IRS recently issued two pieces of much anticipated follow-up guidance to its original electronic payment card ('Card') guidance for health benefit cards. This guidance will substantially impact how health benefit cards are administered in 2008 and beyond to access funds in a flexible spending arrangement (FSA) or health reimbursement arrangement (HRA)." (Alston & Bird LLP)
Dana Corp. Swaps Underfunded Health, Disability Plans for Trusts
Excerpt: "Dana Corp. has announced a number of deals that will substantially reduce its operating costs. Most significantly, the bankrupt auto-parts maker said its two largest unions, the United Steel Workers and the United Auto Workers, agreed to replace the company's health-care and long-term disability obligations for union retirees and employees with Voluntary Employees' Beneficiary Association (VEBA) trusts." (CFO.com)
UAW Reaches Agreement with Auto Parts Manufacturer on Health Care Trust
Excerpt: "Automotive part manufacturer Dana announced . . . it has reached a four-year agreement with United Auto Workers and United Steelworkers to transfer retiree health care and long-term disability liabilities to two health care trust funds, generally known as voluntary employer benefit associations, the New York Times reports . . . ." (Kaiser Family Foundation)
Workers Still Denied Domestic Partner Benefits after New Jersey Civil Union Bill
Excerpt: "United Parcel Service (UPS) is denying benefits to same-sex couples in civil unions in New Jersey, saying the state's law does not treat civil unions the same as marriages." (PLANSPONSOR.com; free registration required)
ERISA Could Hurt States' Efforts To Expand Health Coverage of Uninsured Residents
Excerpt: "The Employee Retirement Income Security Act might have the potential to 'derail' state efforts to reduce the number of uninsured residents, the Wall Street Journal reports. . . . Lawmakers in California, Illinois, Pennsylvania and other states are debating 'pay or play' proposals that would give employers a choice between providing insurance to their workers or paying into state funds to subsidize health coverage." (Kaiser Family Foundation)
4th Circuit Says No FMLA Waivers
Excerpt: " In Taylor v. Progress Energy, Inc., No. 04-1525 (4th Cir. July 3, 2007), the court considered whether employees could waive their rights under the FMLA." (Workplace Prof Blog)
Overview of Discussions on HIPAA and Privacy
Excerpt: "Whether the federal privacy rule under the Health Insurance Portability and Accountability Act of 1996 is adequate to the task of protecting privacy of patients in the new environment of electronic health-information exchange is a matter of divided opinion, according to oral and written testimony before an HHS work group last month." (Modern Healthcare)
Growing Numbers of Retail Health Clinics Provide Convenient Care and Transparent Pricing
Excerpt: "[F]rom Spencer's Benefits Reports: Retail health clinics are proliferating across the U.S. in response to consumers' need for convenience, flexibility, affordability, and transparency, and major health care plans are covering their services in their networks, HealthLeaders-InterStudy recently noted." (Wolters Kluwer Law & Business)
Debate over Atrial Ablation Highlights Challenges Posed by Costly Experimental Procedures
Excerpt: "An experimental treatment for atrial fibrillation known as ablation, which costs between $25,000 and $50,000, 'stands out as another potentially budget-straining medical commitment' for health care payers including the federal government, the New York Times reports." (Kaiser Family Foundation)
Opinion: The Realities of Health Care Reform
Excerpt: "The question is why there appears to be a presumption that our industry [health insurance] might be opposed to reform." (The Washington Post; free registration required)
Pennsylvania Finds No Easy Fixes on Health Care
Excerpt: "Gov. Rendell said he did not propose making insurance mandatory . . . because he wanted first to drive down the cost of care. He said he had reasoned that unlike limiting reform to coverage of the uninsured, who make up about 7 percent of the state's population, a focus on cost control would appeal to every Pennsylvanian who visits a doctor or pays a premium. It could also win over business interests because of the impact of health costs on corporate bottom lines." (The New York Times; free registration required)
Concern Raised About Amount Massachusetts Employers Must Pay Toward Worker Health Insurance Premiums
Excerpt: "Massachusetts state Sen. Richard Moore (D) in a letter . . . urged the commissioner of the state health care finance division to issue emergency regulations to increase the required minimum contribution by employers to workers' health insurance coverage under the state's health insurance law, the Boston Globe reports." (Kaiser Family Foundation)
As Co-Pay Rises, Prescription Use Drops, According to Study
Excerpt: "Consumers spend 2% to 6% less on prescription drugs for each 10% rise in their out-of-pocket costs for such things as rising deductibles, the amount paid upfront for insurance-based healthcare, said a review of 132 studies released today by the Rand Corp., a Santa Monica-based public policy institute." (Bloomberg via Los Angeles Times; free registration required)
Bill Proposes Tax Breaks for Health Wellness Programs
Excerpt: "Sen. Tom Harkin proposed awarding tax credits to businesses that help employees eat better, exercise, manage stress and quit smoking." (Houston Chronicle)
Overview; Medicare Coordinated Retiree Health Care Plans Remain a Viable Plan Design
Excerpt: "Medicare coordinated retiree health care plans have been revived as a viable plan design under the Age Discrimination in Employment Act (ADEA). In AARP v. EEOC, No. 05-4594 (3d Cir. 2007), a unanimous panel of the U.S. Court of Appeals for the Third Circuit upheld an Equal Employment Opportunity Commission (EEOC) proposed regulation that establishes an ADEA exemption permitting employers to coordinate retiree health care benefits with Medicare." (McDermott Will & Emery)
Employees Waver on Understanding Health Care Coverage
Excerpt: "The greatest challenge for U.S. workers in understanding their health care plans is being able to discuss exactly what the plan covers, a recent Watson Wyatt survey revealed." (PLANSPONSOR.com; free registration required)
Opinion: Lose the Health Insurance Mandates
Excerpt: "The main reason there are uninsured people in the United States is affordability. The affordability issue can be tracked to mandated benefits required of all state-regulated health insurance policies, says Philip J. McGinnis, who has lobbied for small-business health plans." (National Center for Policy Analysis)
For Democrats, Pragmatism on Universal Health Care
Excerpt: "'Plans which minimize the disruption to the existing system are more likely to succeed than plans that rip up the existing system and start over,' said [Jonathan] Gruber, who has consulted with the three leading Democratic campaigns about their health plans. 'It doesn't take a genius to see that. That's not to say that plans ripping it up wouldn't be better -- I just think they're political non-starters.'" (The Washington Post; free registration required)
Links to Items on Executive Comp, Benefits in General
6th Circuit Holds Unpaid Employer Contributions Do Not Fall Within Bankrup.tcy Discharge Exceptions
Excerpt: "In this case, the Sixth Circuit Court of Appeals addressed the question of whether the United States Bankrup.tcy Code excludes from discharge a debt that an employer owes for failing to contribute to employee benefit funds. The Court held that it does not. The issue in the case involved employer contributions only as further explained [in the target page]." (Health Plan Law blog by Attorney Roy F. Harmon III)
Overview: IRS Issues Ruling on Section 83 Stock Transfers
Excerpt: "The Internal Revenue Service (IRS) has issued Revenue Ruling 2007-49 which sets forth the tax consequences under Internal Revenue Code Section 83 when restrictions are imposed on substantially vested stock causing that stock to become substantially nonvested." (International Foundation of Employee Benefit Plans)
International Update, June 2007
This monthly publication covers recent developments in foreign private and public pensions, social security, and retirement. (U.S. Social Security Administration)
Overview: DOL's Final LM-30 Union Reporting Rule
Excerpt: "Nearly two years after proposing to update a union financial disclosure form and after getting hit with more than 1,000 public comments, the U.S. Department of Labor (DOL) has released the final rule governing form LM-30." (PLANSPONSOR.com; free registration required)
Employee Benefits Developments, July 2007
A brief look at developments in Employee Benefits law from June and July 2007, including cases, rulings, and opinions. (Hodgson Russ LLP)
Current Benefit Approaches Are Not Working As Well They Should for Employers or Employees
Excerpt: "Employee benefits are coming up short for employers and workers, a recent survey from Towers Perrin shows. About 75% of senior managers think their benefits package is not effective at meeting cost control objectives, while 58% indicate their program is not helpful at recruiting workers." (Employee Benefit News via CareerJournal.com)
Newly Posted Events
Cafeteria Plan Compliance: Handling Status Change Rules - Including HSA Considerations
Nationwide on July 26, 2007
presented by HRTrainingCenter.com
The 22nd Annual National Institute on Compensation for Executives and Directors
in New York on November 12, 2007
presented by ABA Joint Committee on Employee Benefits
The FMLA Intermittent Leave Headache - Webcast
Nationwide on July 31, 2007
presented by Business 21 Publishing
Newly Posted Press Releases
Average CEO Gets $65K in Perks, Watson Wyatt Data Services Finds
Watson Wyatt
Survey Shows Employers Continuing to Cut 'Traditional' Pension Plans, But Often Add to 401(k) Benefits As Well
Employee Benefit Research Institute (EBRI)
New Customized Dental Product Makes Any Mouth Smile
Principal Financial Group
Council Testifies Before DOL Advisory Panel on Need For Expanded Financial Literacy
American Benefits Council
Retirement Online Primer Course for the Canadian Insurance Industry Introduced by International Foundation of Employee Benefit Plans
International Foundation of Employee Benefit Plans
National Business Coalition on Health Elects New Board Officers
National Business Coalition on Health
John Hancock Unit Developing 401(k) Rollover Solution Program
John Hancock Retirement Plan Services
5th Annual 412(i)Summit
Executive Benefits Design Group
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
401(k)/Executive Compensation Consultant
for Investech Retirement Plan Services
in FL
Employee Benefits Account Manager
for L/B/W Insurance & Financial Services, Inc.
in CA
Manager, Retirement Proposals and Implementation
for National Rural Electric Cooperative Association (NRECA)
in DC, VA
401(k) Administrator
for West Pension Solutions, LLC
in MD
Defined Contribution Analyst
for Jacob, Haxton & Boord LLC
in OH
Analyst Assistant
for Jacob, Haxton & Boord LLC
in OH
Qualified Plan Administrator
for Bentley Employee Benefits Group, LLC
in RI
Account Executive - Client Relationship Management
for Diversified Investment Advisors, Inc.
in DC, MD, VA
Pension Administrator
for Preferred Pension Planning Corporation
in NJ
Handy Links:
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- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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