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| September 26, 2007 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
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| Thank-you! |
| Due to the wonderful support of our customers and friends, we are happy to announce that ftwilliam.com now has over 1000 customers.
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(a) New Guidance Documents
Questions and Answers about Health Insurance -- A Consumer Guide (PDF)
36 pages. Excerpt: "This guide briefly describes the different kinds of health insurance plans available today. These include network-based plans, nonnetwork based coverage, and consumer-directed health plans. Also, you will find answers to many common questions you may have about health insurance. Resources are provided at the end of the booklet to help you find additional, more detailed information. At the end of this guide, there is a glossary of health insurance terms." (U.S. Agency for Healthcare Research and Quality and America's Health Insurance Plans)
(b) News
UAW and GM Tentative Deal Ends 2-Day National Strike
Excerpt: "[The tentative deal includes] a plan to shift oversight of retiree health-care benefits to an independent health-care trust -- known as a voluntary employee beneficiary association, or VEBA." (Detroit Free Press)
Mental-Heath Parity Bill Moves Forward
Excerpt: "An expansion of legislation that requires companies to offer similar benefits for physical and mental health issues is closer to approval after a Senate vote last week." (Human Resource Executive Online; free registration required)
(c) Summaries of Guidance; Filed Comments
Overview: Accident and Health Insurance Premiums Would Be Taxable Under IRS Proposal
Excerpt: "The IRS proposed regulations on August 20, 2007, that would make accident or health insurance coverage provided through a qualified plan taxable to covered participants. Benefits from the coverage would remain tax-free. The new rules are likely to present significant obstacles for employers that wish to provide such insurance through a pension or profit-sharing plan." (Watson Wyatt Worldwide)
Benefits and Traps in New Tax Rules on Cafeteria Plans
Excerpt: "Two important events have occurred so far this year: on May 25, President Bush signed the Small Business and Work Opportunity Tax Act, and on Aug. 3, the Internal Revenue Service proposed regulations on the employee benefit plans known as cafeteria plans. . . . For many businesses, the I.R.S. action will be the more significant of the two events. Susan Relland, a benefits specialist with the Washington law firm Miller & Chevalier, said, 'Every employer that offers a cafeteria plan has to revise all their plan documents.'" (The New York Times; free registration required)
Mexico: Deductibility of Fringe Benefit Expenses Under the Single Rate Tax Law (PDF)
3 pages. (Baker & McKenzie)
(d) Trends, Surveys, Research
Employers, Health Insurers Increasingly Use Care Managers To Review Physicians' Treatment Plans
Excerpt: "A growing number of employers and health insurers are using care managers, or integrated health managers, who 'essentially audit an employee's health care and look for ways to both improve outcomes and save money,' the Wall Street Journal reports." (Kaiser Family Foundation)
The State of Health Care Quality 2007 -- Industry Trends and Analysis (PDF)
94 pages. Excerpt: "The State of Health Care Quality report is produced annually by NCQA to monitor and report on performance trends over time, track variations in patterns of care and provide recommendations for future quality improvement." (National Committee for Quality Assurance)
Brief Notes on the Health Reimbursement Arrangements' Beneficiary Issue
Excerpt: "On August 14, 2006 the IRS issued Revenue Ruling 2006-36 to clarify the beneficiary status of Health Reimbursement Arrangements (HRA). The Revenue Ruling indicates that HRA reimbursements, whether taxable or not, may no longer be made to non-spouse or non-dependent beneficiaries. Plans have until December 31, 2008 to comply with the ruling; there are no consequences for reimbursements to such beneficiaries prior to that date." (ICMA-RC)
Working Mothers Want to Stay on the Job, Reporting Favorable Work/Life Balance, Accenture Survey Finds
Excerpt: "An overwhelming majority of working mothers report that, if there were no obstacles, they would continue working, and most say that their work/life balance is always right or is right most of the time, according to the results of new Accenture . . . research." (Business Wire via Human Resource Executive Online; free registration required)
10 Health Promotion Programming Ideas Every Small Business Should Consider
5 pages. Excerpt: "[V]ery little has been written specifically for small businesses to help them in their quest to create healthier employees and healthier companies. In this article, we'll present 10 programming ideas that can make a big difference in any small company." (Wellness Councils of America)
Small Business Owners Want Health Care System Change
Excerpt: "From Spencer's Benefits Reports: The state of the current U.S. health care system remains a primary concern for small business owners, according to the latest Wells Fargo/Gallup Small Business Index. Almost nine out of ten small business owners surveyed (86%) said that the current health care system is in need of change, with six out of ten (59%) saying that 'a complete overhaul' is in order." (Wolters Kluwer Law & Business)
Health Management in the Technology Age (PDF)
3 pages. Excerpt: "Many employers purchase health management, medical, and pharmacy services through different providers. Each provider has various levels of information, online tools, and other services available. To maximize your investment and increase engagement in the programs provided to employees, coordination of data, tools, and the delivery of healthcare among vendors is critical. Depending upon your program design, complexity, and number of vendors, various levels of coordination can be achieved." (Aon Consulting)
Study Shows Firms Should Help Unhappy Workers
Excerpt: "Investing in depressed employees -- quickly getting them treatment and even offering telephone psychotherapy -- can cut absenteeism while improving workers' health, a study suggests. Many employers view mental health coverage as a financial black hole, but the study shows that spending money on depression is a smart business move . . . ." (AP via The New York Times; free registration required)
To Keep Health Plans, Many Firms Shift Costs
Excerpt: "[Many small] businesses still offer coverage, especially professional firms, mostly because of competition for employees, said Gary Claxton, a vice president at Kaiser. How do they afford it? By cutting benefits and shifting more costs onto their workers." (The New York Times; free registration required)
Telephone Outreach Benefits Both, Employer and Employee
Excerpt: "In a study report in the September 26 issue of JAMA it was revealed that workers who suffered from depression but took part in a program that included telephone outreach involvement seemed to eventually have fewer symptoms, worked longer hours and retained their jobs longer than other participants who received the usual care but not the telephone care treatment. Not only was there an improvement in their mental health but they showed greater productivity." (Earthtimes.org)
Employer-Sponsored Health Plan Costs Expected To Increase 8.7% in 2008, According to Study
Excerpt: "Employer-sponsored health insurance premiums increased by more than twice the rate of inflation in 2007, and costs are expected to continue to rise next year, with employees shouldering more of the costs, according to a study released Monday by Hewitt Associates, Dow Jones reports. The study was based on survey data that included 1,800 health plans, including 400 large employers, and more than 18 million plan enrollees." (Kaiser Family Foundation)
Effect on Prescription Drug Pricing of Expected Settlement of a Class Action Lawsuit on AWP (PDF)
2 pages. Excerpt: "The imminent discontinuation of the widely used average wholesale pricing (AWP) methodology as a source for prescription drug pricing and pharmacy benefit manager (PBM) contracting will have implications for plan sponsors." (The Segal Group, Inc.)
(e) Policy, Opinion, Advocacy
Opinion: Mandatory Health Insurance?
Excerpt: "Is it the right of the government to impose an obligation to buy a private product that costs $12,000 a year for a family of four?" (Los Angeles Times via The Foundation for Taxpayer & Consumer Rights)
Opinion: The End of Erie County
Excerpt: "Recently, a path was cleared that should result in employers having more flexibility in the design of general retiree medical plans, as well as early retirement programs that contain medical benefits. In particular, an employer should be able to provide less costly benefits upon Medicare eligibility without violating the Age Discrimination Employment Act (ADEA)." (BNA Tax Management, Inc.)
Opinion: UAW vs. GM -- The Wrong Reason To Strike
Excerpt: "[I]t's not the strike against General Motors that concerns me as much as the reported reason for it -- namely, the union's insistence that this contract, like those before, offer ironclad job security. Given what's gone on the last 25 years, you have to wonder how anyone could think that GM, Ford or Chrysler is in a position to guarantee anything, let alone job security." (The Washington Post; free registration required)
Mental Health Parity: Often Separate, Usually Unequal (PDF)
8 pages. Excerpt: "In this issue brief, we first describe current mental health parity requirements and how group insurance plans have responded to these requirements. We next discuss the cost implications of expanded mental health parity requirements, including the impact on other medical costs." (American Academy of Actuaries)
Links to Items on Executive Comp, Benefits in General
Military Service Credit Deposits -- Understand Your Benefits Long Before You Actually Retire
Excerpt: "This week, I present a cautionary tale, from which I hope you'll learn a valuable lesson: If you want to be sure your retirement reflects your full career of service, you need to understand your benefits long before you actually retire." (GovExec.com)
Newly Posted Events
An Evening with Rosemarie Greco
in Pennsylvania on October 18, 2007
presented by PEBA --Penjerdel Employee Benefits & Compensation Assn.
Benefits Legislative Update
in California on October 9, 2007
presented by International Society of Certified Employee Benefit Specialists, Northern California Chapter
Qualified Plans in Purchase and Sale of a Business - Free Webinar
Nationwide on September 25, 2007
presented by Executive Benefits Design Group
Newly Posted Press Releases
Ernst & Young Named to Top 10 List of '100 Best Companies for Working Mothers'
Ernst & Young, LLP
Vanguard and Frankford Candy of Southeastern Pennsylvania Named AARP 2007 Best Employers for Workers Over 50
AARP
Florida Man Sentenced To $5.7 Million In Restitution And Imprisonment On Federal Health Care Fraud And Pension Embezzlement Convictions
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
New Online Employer Identification Number Application Processes Requests in Minutes
Internal Revenue Service (IRS)
International Foundation Officer, Simone L. Rockstroh, Testifies on Participant Benefit Statements Before the DOL
International Foundation of Employee Benefit Plans
Aetna Dental Introduces Two New Plan Options as Employers Select Their 2008 Benefits Coverage
Aetna
Ethical Guidelines Outlined for Health Care Reform
American Medical Association (AMA)
ftwilliam.com Announces Reaching the 1,000 Customer Mark
ftwilliam.com
2007 TransitCenter Commuter Impact Survey Reveals 132% Growth in Commuter Benefits in Major U.S. Markets Since 2006
TransitCenter
Many Medicare Beneficiaries with Limited Means Still Not Taking Advantage of Generous Benefit
National Council on Aging (NCOA)
KPMG Named One Of Top Ten Best Companies For Working Mothers By Working Mother Magazine
KPMG LLP
Institute for Policy Innovation: So Much for Personal Retirement Accounts
Institute for Policy Innovation
Newly Posted or Renewed Job Openings
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Benefits Analyst
for Wake Forest University Baptist Medical Center
in NC
Defined Benefits Administrator
for CMC Retirement and Employee Benefits Specialists, Inc.
in CA
Administrator
for CMC Retirement and Employee Benefits Specialists, Inc.
in CA
ERISA Specialist
for King & Spalding
in GA
Senior Benefit Consultant
for Unified Trust Company, N.A.
in KY
Plan Administrator/Trust Accountant
for Thomas F. Barrett, Inc.
in AL, AR, CT, DC, DE, FL, GA, LA, MA, MD, ME, MS, NC, NH, NJ, NY, PA, RI, SC, TN, VA, VT
Daily 401(k) Plan Administrator
for Alliance Benefit Group-MidAtlantic, LLC a BenefitStreet Company
in MD
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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