BenefitsLink |
 |
 |
| October 10, 2007 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
Today's sponsor is www.ftwilliam.com
(Click on company name or banner to learn more.)
| Q: Where can you find high quality Cafeteria, HRA and POP documents at competitive prices? |
A: www.ftwilliam.com
ftwilliam.com’s website offers software to generate Cafeteria, POP and HRA plan documents. Sign-up for our free on-line demo and find out how www.ftwilliam.com can make your life easier (and save you money).
Features:
|
(a) New Guidance Documents
(None today.)
(b) News
HHS Awards $22.5M in Contracts for National Health Data Network
Excerpt: "HHS last week awarded $22.5 million to nine health information exchanges to begin trials for the Nationwide Health Information Network, Healthcare IT News reports. The HIEs will participate in the NHIN Collaborative, which will test and demonstrate the exchange of private and secure health information among providers, patients and other stakeholders." (California HealthCare Foundation)
University of Louisville Widens Health Benefit Plans for Domestic Partners
Excerpt: "The University of Louisville announced yesterday that it has broadened its plan to provide health-insurance coverage for employees' domestic partners in an effort to meet constitutional objections." (The Courier-Journal)
New Multiyear Health Insurance Plans Designed To Make Premiums More Predictable for Small Businesses
Excerpt: "Guardian Life and Humana are introducing multiyear health insurance plans for small and medium-sized businesses that aim to provide employers with more predictable premiums from year to year, the Wall Street Journal reports. Both companies' plans are meant to appeal to employers that have been 'struggling with double-digit premium increases' in recent years, according to the Journal." (Kaiser Family Foundation)
Legislation Would Exempt from Taxes Sole Proprietorships' Health Coverage Premiums
Excerpt: "Reps. Ron Kind (D-Wis.) and Wally Herger (R-Calif.) have introduced legislation (HR 3660) that would allow self-employed individuals to deduct the cost of health insurance premiums from their payroll taxes, the Washington Post reports (McLoone, Washington Post, 9/26). Under current law, sole proprietorships cannot exclude health insurance premiums from payroll taxes of 15.3%, while corporations can deduct premiums as a business expense and exclude the cost of premiums from payroll taxes . . . ." (Kaiser Family Foundation)
(c) Summaries of Guidance; Filed Comments
Health Plan Settlements -- BCBS Settlement: File Claim by Oct. 19
Excerpt: "The AMA has compiled pertinent information regarding the Multi-District Litigation Settlements and the Blue Cross and Blue Shield Settlement along with tools that may be utilized as a resource. Information and alerts are updated frequently." (American Medical Association)
ERISA Plan Prohibited from Conditioning Payment of Claims on Execution of Subrogation Agreement
Excerpt: "This district court opinion highlights two important aspects of health plan administration in the enforcement of reimbursement or subrogation provisions. A self-funded ERISA group health plan may pend payment of medical claims -- and ultimately deny them -- if participants do not execute documents required by the plan. An important caveat, however, is that the plan must contain a provision imposing this requirement." (Health Plan Law blog by Attorney Roy F. Harmon III)
(d) Trends, Surveys, Research
2006 Survey of Surviving Spouses on the Financial Impact of Premature Death: How Much of a Death Benefit is Enough?
Excerpt: "MetLife completed a survey of surviving spouses several years ago which provides insight into what amounts of life insurance were adequate." (The Group Guy)
Canadian Firms Offer Cuban Health Care to U.S. and Canadian Patients
Excerpt: "'We looked throughout Latin America or the Caribbean for a cheap source of medical services,' says Daren Jorgenson, owner of Choice Medical Services in Winnipeg. 'Cuba is well known for high standards of healthcare.' Some experts dispute the reference to high standards, but no one disputes the prices. Hip replacement, which can cost up to $38,000 in the United States, can be done in Cuba for $7,600, Jorgenson says. A tummy tuck can be had for $2,800, compared with $5,200 in the United States." (The Miami Herald; free registration required)
What Kind of Stop Loss Coverage Is Best for a Company?
Excerpt: "When you buy group health and dental insurance, your broker or insurer always asks to see your previous claims experience because they want to know how much money you are spending to cover your employees' health and dental claims.) Then they add an amount to cover the costs of those claims – and give you a price, called a 'premium'. The price of the insurance is almost always higher than your actual claims." (Employee Benefit News; free registration required)
ERISA Plan Prohibited from Conditioning Payment of Claims on Execution of Subrogation Agreement
Excerpt: "This district court opinion highlights two important aspects of health plan administration in the enforcement of reimbursement or subrogation provisions. A self-funded ERISA group health plan may pend payment of medical claims -- and ultimately deny them -- if participants do not execute documents required by the plan. An important caveat, however, is that the plan must contain a provision imposing this requirement." (Health Plan Law blog by Attorney Roy F. Harmon III)
Revenue from Leasing the Lottery Would Fund Low-Income Health Coverage Under Calif. Gov's New Proposal
Excerpt: "In a high-stakes gamble to revitalize healthcare negotiations, Gov. Arnold Schwarzenegger proposed [yesterday] to lease California's lottery to a private firm and use the money to help guarantee medical insurance for everyone." (Los Angeles Times; free registration required)
Prescription Drugs: Trends in Usual and Customary Prices for Drugs Used by Medicare/Non-Medicare Health Insurance Enrollees (PDF)
14 pages. Excerpt: "This report focuses on (1) usual and customary price trends from January 2004 through January 2007, and (2) usual and customary price trends from January 2000 through January 2007 for the subset of drugs that were included in both our 2005 report and the current report." (U.S. Government Accountability Office)
Voluntary Self-Funded LTC Lapse Rates Less Than Group
Excerpt: "There are three core risk concerns when considering self-funding voluntary or employer-sponsored group long-term care insurance for employees. Two of the three -- investment earnings and benefit costs -- threaten both voluntary and group programs equally, the third -- lapse rates -- poses a greater risk to employer-sponsored programs according to Jon Shreve, Milliman's group LTC guru." (Employee Benefit News; free registration required)
Companies Forming Own Health Clinics As Cost, Convenience, Personal Care Pay Off
Excerpt: "[Kohl's Wellness Center] is one of at least eight in Wisconsin run by companies. It also is part of a growing trend in which large companies try to rein in rising health care costs by providing the care themselves. Many of those companies . . . have shown that they can provide better care at a lower overall cost. . . . Their experience supports the contention . . . that the system's focus on costly specialty care and procedures is one of the key reasons that the United States spends far more . . . ." (Milwaukee Journal Sentinel; free registration required)
Microsoft Boots Up Electronic Medical Records Plan
Excerpt: "Microsoft made its long awaited entry into consumer health care by unveiling an electronic personal health record platform designed to be compatible with other health care technology." (Workforce Management; free registration required)
Links to Items on Executive Comp, Benefits in General
Roth Might Be Coming Soon to 457(b) Plans
Excerpt: "This year, a provision about to be included within one of the appropriations bills, is the American Infrastructure Investment and Improvement Act. Included within this provision is authorization to permit 457(b) plans to include a qualified Roth contribution program, effective for taxable years beginning after December 31, 2007. Under such a program, participants would be permitted to designate elective deferrals as Roth contributions." (Pension Protection Act Blog)
Opinion: FASB in Stock Option Redux
Excerpt: "The first time the accounting mandarins tried to fix the rules for employee stock-option compensation, it almost killed them. The second time, they barely escaped with all their teeth. Now, they're coming back for more. The U.S. Financial Accounting Standards Board is preparing to rewrite its rules for stock-option pay . . . ." (Bloomberg News)
Proposed Regs on Entertainment Use of Company Aircraft: Still Tough IRS Line, but Notice 2005-45 Is Eased (PDF)
Excerpt: "The passage of two years since the issuance of Notice 2005-45 has not significantly dampened the enthusiasm of the Internal Revenue Service in its mission to stamp out executives' entertainment use of company aircraft." (Miller & Chevalier Chartered)
Employer's Notice of Plan Amendment Did Not Satisfy Reasonableness Requirement in SPD
Excerpt: "EBIA Comment: By adding a reasonable-notice standard to its SPD without further defining the term 'reasonable,' the employer in this case opened the door to having the provision construed against it by a court. But even where plan documents do not include a separate timing rule, there are times . . . when it's advisable to provide written notice of a plan amendment prior to the expiration of ERISA's deadline. Mere compliance with the statutory disclosure deadline will not always serve as a defense to claims based on breach of fiduciary duty." (Employee Benefits Institute of America)
Executive Compensation Disclosure Eyed by SEC
Excerpt: "Companies should provide more focused disclosure explaining how and why they make executive-compensation decisions, according to the Securities and Exchange Commission. The commission today released a report regarding how effectively 350 public companies complied with rules adopted in late 2006 regarding executive- compensation disclosure." (Investment News; free registration required)
What Makes a Company a Great Place to Work Today
Excerpt: "From Working Mother magazine's '100 Best Companies' to Business Week's 'Best Places to Launch a Career,' judges are sizing up employers' flexible scheduling and other perks as criteria for coveted top-employer rankings. And family-friendly companies are looking very different today than they did a few years ago. The waning of boomers with their uptight ways, and the rise of the we-want-it-all millennials, are spurring major shifts in employer programs." (The Wall Street Journal Online via Career Journal.com)
(e) Policy, Opinion, Advocacy
Opinion: The Truth About the Health Care Cost Trend
Excerpt: "The thought that health costs are declining may reflect a 'parallel universe,' but it's hardly an isolated view. Many employers, prompted by brokers and consultants, now believe, as recent EBN headlines announced, that their 'Focus on Plan Design [is] Paying Off' and that, nationwide, 'Medical Costs [are] Declining.'" (Employee Benefit News; free registration required)
Essay: Is More Medicine Better?
Excerpt: "In this month's Cato Unbound, the iconoclastic George Mason economist Robin Hanson leads off with an essay that argues that 'our main problem in health policy is a huge overemphasis on medicine.' [Three of America's health policy experts step up to respond to Hanson's theme: David Cutler, Dana Goldman, and Alan Garber.]" (Cato Institute)
Newly Posted Events
Planning for Tomorrow: New Approaches to Employee Retirement Planning and Education - Webcast
Nationwide on October 31, 2007
presented by HREOnline.com
The Basics of 401(k) Plans
in California on November 7, 2007
presented by National Institute of Pension Administrators
Newly Posted Press Releases
PSCA To Conduct Benchmarking Study To Identify 403(b) Plan Best Practices
Profit Sharing/401(k) Council of America (PSCA)
PSCA Announces the 2007 Signature Award Winners
Profit Sharing/401(k) Council of America (PSCA)
PBGC Protects Pensions At Brownsville General Hospital
Pension Benefit Guaranty Corporation (PBGC)
U.S. Labor Department Launches Interactive Web Tool to Help Employers Comply With Retirement Laws
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U.S. Labor Department Obtains Settlement to Distribute 401(k) Funds to Former Employees of Kropf Orchards and Appletree Farms
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
U. S. Labor Department Releases Advance Copies of 2007 Form 5500 Annual Report
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Treasury, IRS Issue Pension Protection Act Guidance
U.S. Treasury Department and Internal Revenue Service
Transamerica Enhances Wirehouse Financial Adviser Support
Transamerica Retirement Services
Survey of Iowa Voters Reveals Surprising Results and Attitudes Toward America's Health Care Crisis
International Foundation of Employee Benefit Plans
TransitCenter, Inc. Corrects Finding of 2007 Commuter Impact Survey
TransitCenter
Buck Consultants Reports Wellness Programs Are Truly Global; Objectives Vary by Region
Buck Consultants, an ACS Company
CCH Survey Finds Most Employees Call in "Sick" for Reasons Other Than Illness
CCH, a Wolters Kluwer business
New Guardian Research Examines Views on Retirement Planning
Guardian
First Mercantile Appoints Two New Regional Sales Directors
First Mercantile
Spherion Study Shows Less Than Half of U.S. Workers Are Satisfied With Their Jobs; Benefits and Compensation Inadequate to Retain Employees
Spherion
LifeSecure and Women's Institute for a Secure Retirement Team to Help Women Face the Many Challenges of Caregiving
LifeSecure Insurance Company
TDAX Funds Launches Target Date ETFs
TDAX Funds, Inc.
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs |
RSS Feed )
New Business Project Manager
for National Retirement Plan Services Firm
in
Marketing Strategy
for Merrill Lynch
in NJ
401(k) Senior Plan Administrator
for Matthews Benefit Group, Inc
in FL
Senior Director, Employee Benefits and Analysis
for MTA- New York City Transit
in NY
401(k) Plan Administrator for DC Balance Forward Plans
for Ingham Group, a premier full service Tier One firm
in FL
Benefits Consultant
for Northwestern Benefit Corporation of Georgia
in GA
401(k) Plan Administrator for DC Balance Forward Plans
for Ingham Group, a premier full service Tier One TPA
in SC
Participant Svcs Rep
for Standard Insurance Company
in OR
Account Mgr-RP
for Standard Insurance Company
in OR
Sr. Counsel
for Diversified Financial Services Organization
in IN, NC, PA
Defined Contribution Analyst I, II, Senior
for Standard Insurance Company
in OR
Enrolled Actuary
for TPA, Southeast
in AL
Defined Contribution / 401-K Plan Administrator
for Pension Actuarial Consulting Firm
in NY
Consultant, Pension Administration
for Buck Consultants
in IN
Government Relations Specialist (WAS0008O)
for Mercer Human Resource Consulting
in DC
Client Data Management Administrator/Conversion Specialist
for Decimal, Inc. - TheOnline401k
in CA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
Subscribe to the BenefitsLink Retirement Plans Newsletter, Too!
Sign-up form is at https://benefitslink.com/newsletter (free).
This newsletter is sent to you each workday except federal holidays.
This email has been published by:
BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
David Rhett Baker, J.D., Editor
Copyright 2007 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Anyone can receive these emails; just have them sign up at this web page: https://benefitslink.com/newsletter/
Other useful links: