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| August 17, 2007 |
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Simple Steps Can Save Health Plans Big Dollars
Excerpt: "A combination of four measures helped one U.S. hospital's health plan control prescription drug costs and save more than $6.6 million over three years, according to a study by Wake Forest University Baptist Medical Center published in the American Journal of Managed Care." (National Center for Policy Analysis)
Affordable Health Care Solutions for Lower-Income Employees (PDF)
5 pages. Excerpt: "Employers should keep in mind . . . that in developing low-cost plans, they must be careful in structuring the design. They don't want a plan that employees won't use, has arbitrary limits for key services that don't meaningfully reduce costs, low plan limits that don't reflect market realities or a deductible so high it acts as a barrier to use of the plan." (Towers Perrin)
The 'Make Whole' Defense to Reimbursement - Rule of Interpretation or General Equitable Defense?
Excerpt: "Mark Abramson, of Robison, Curphey & O'Connell, submitted an interesting new ERISA subrogation decision from the Northern District of Ohio for publication on this site. In this decision, the district court held that the plan could enforce a reimbursement provision against a plan participant after a recovery by the participant in a personal injury action." (Health Plan Law blog by Attorney Roy F. Harmon III)
Many Workers Are Underinsured and Unhappy with Health Plan
Excerpt: "Many adults are dissatisfied with their health insurance, and 24% of Americans have just bare-bones policies, meaning they are not adequately covered if faced with major medical expenses, according to new research from Consumer Reports magazine." (Employee Benefit News; free registration required)
Preventive Measures Could Drastically Improve Employee Health
Excerpt: "More than 100,000 additional American lives could be saved each year if people better followed basic preventive care, according to a recent study from the Partnership for Prevention. Employers may wish to enhance their programs and communications promoting prevention." (Employee Benefit News; free registration required)
Alabama Places $50 Million in Retiree Health Care Trust
Excerpt: "The State Employees' Insurance Board voted . . . to put $50 million into a trust designed to help Alabama pay future health care costs for its retired public employees." (The Birmingham News)
New York Attorney General Warns Insurers on Doctor Rankings
Excerpt: "Attorney General Andrew Cuomo asked Aetna Inc. and Cigna Corp . . . to explain how they recommend doctors to patients after finding the insurers' physician-ranking programs to be confusing or even deceiving." (AP via Houston Chronicle)
Opinion: What Smoking Cost Me
Excerpt: "As anyone who's ever applied for life insurance knows, you need a health examination before the insurance company can determine your monthly premiums. We were pretty confident going into the exam (my wife's a marathoner, I'm fairly active) that we'd secure at least 'preferred health' rates. We got 'preferred' all right -- I got 'preferred tobacco,' and we were hit with $120 more in monthly premiums than we'd expected." (The Motley Fool)
Links to Items on Executive Comp, Benefits in General
Overview: Guilty Verdict in First Options Backdating Trial May Embolden Prosecutors (PDF)
2 pages. Excerpt: "On August 7, 2007, a jury in the United States District Court for the Northern District of California found Gregory L. Reyes, the former CEO of Brocade Communications Systems, Inc. ('Brocade'), guilty of securities fraud and conspiracy for backdating stock options granted to Brocade employees. The trial was the first in an options backdating case and commentators are predicting the verdict may embolden prosecutors to pursue similar cases." (Powell Goldstein LLP)
Business Strategy, People Strategy and Total Rewards
Excerpt: "This article strives to 'connect the dots' among business strategy, people strategy and total rewards. It describes the value of integrating these initiatives and the value that a total rewards strategy brings in the achievement of business goals. It presents a 'how-to' approach in linking the total rewards -- defined as compensation, benefits, learning and development, and work environment -- to an organization's business and people strategy." (International Foundation of Employee Benefit Plans)
Overview: IRS Explains Section 409A Effect on Teachers' Salaries
2 pages. Excerpt: "The IRS issued an Information Release clarifying that elections made by teachers and school employees before January 1, 2008 to annualize their salaries will not be subject to Section 409A deferred compensation rules. However, this relief is only temporary and the IRS also posted information to its website on how Section 409A rules apply to teachers' salary annualization arrangements in the future." (Buck Consultants)
District Court Rules SPD Provided for Benefits Plan Was in Conflict with the Plan Itself
Excerpt: "This case involves an employee suing for disability benefits under the Employment Retirement Income Security Act ('ERISA'), 29 U.S.C. § 1001, et seq. The district court below found that the terms of the Summary Plan Description ('SPD') conflicted with the plan itself and entered summary judgment in the employee's favor on the ground that an employee need not prove reliance on the conflicting terms of an SPD in order to prevail on a claim for benefits." (MoreLaw.Com, Inc.)
Aon Reports Incorrect Procedures for Stock Options Awards
Excerpt: "Aon Corp. has reported that a review of its stock option grant practices from 1994 to 2006 found incorrect procedures were used for several thousand awards." (PLANSPONSOR.com; free registration required)
Note: Revised Form LM-30 Now Available and Can Be Completed Electronically
Excerpt: "The Office of Labor-Management Standards (OLMS) of the U.S. Department of Labor has made the Revised Form LM-30 available in an electronically fillable Adobe format on the OLMS Web site." (International Foundation of Employee Benefit Plans)
Newly Posted Events
Advanced Actuarial Conference
in Massachusetts on June 10, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Annual Conference
in District of Columbia on October 19, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Benefits Conference of the South
in Georgia on September 18, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Breakfast Seminar with Brian Graff, Esq.
in Texas on September 13, 2007
presented by ASPPA Benefits Council of Dallas/Fort Worth
DOL Speaks: The 2008 Employee Benefits Conference
in District of Columbia on May 22, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
ERISA Update
in Michigan on September 20, 2007
presented by ASPPA Benefits Council of Detroit
ERISA Workshop
Nationwide on October 2, 2007
presented by SunGard Relius
Great Lakes Benefits Conference
in Illinois on May 8, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Los Angeles Benefits Conference
in California on January 24, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Mid-Atlantic Benefits Conference
in District of Columbia on August 14, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Northeast Benefits Conference
in Massachusetts on June 12, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Northeast Benefits Conference
in New York on June 13, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Seminar with Craig Hoffman
in Texas on November 9, 2007
presented by ASPPA Benefits Council of Dallas/Fort Worth
Western Benefits Conference
in Washington on July 13, 2008
presented by ASPPA (American Society of Pension Professionals & Actuaries)
Newly Posted or Renewed Job Openings
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ERISA Associate
for Kilpatrick Stockton LLP, Raleigh, North Carolina
in NC
Retirement Plan Administration Specialist
for Consulting Actuaries Incorporated
in NJ
Retirement Plan Manager
for Capital Group Companies
in VA
Pension Assistant
for Swerdlin and Company
in GA
Experienced Client Manager
for Swerdlin and Company
in GA
Client Relationship Manager - Atlanta, Georgia or Florida
for Transamerica Retirement Services
in FL, GA
Pension Plan Operations Representative
for Transamerica Retirement Services
in CA
Marketing & Sales Benefits Specialist for the Chicago Area
for BPAH, HB&T and Flex Corp
in IL
Senior Pension Analyst
for Trinity Pension Group, LLC
in NC
Client Data Management Processor
for Decimal, Inc.
in CA
Defined Contribution Plan Administrator
for Dunbar, Bender & Zapf, Inc.
in PA
Client Relations Manager
for ING, US Financial Services
in MA
Retirement Plan Sales
for National Financial Partners
in ANY STATE
Institutional Trust Communication Specialist I
for BB&T
in NC
Pension Plan Administrator - St. Louis, MO
for Ralcorp
in MO
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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