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| December 5, 2007 |
| Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. |
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(a) New Guidance Documents
(None today.)
(b) News
Arizona Might Provide Benefits to Domestic Partners
Excerpt: "Arizona is poised to join more than a dozen states that offer health and other benefits to domestic partners of state employees, g.ay or straight. The change would affect the state health plan, to which 65,000 active employees of state government and public universities, as well as 9,000 retirees, belong. In short, it would allow state employees with domestic partners to claim the same benefits as married couples, the biggest of which is coverage under the state health plan." (azcentral.com)
Mailing Insurance Forms to Wrong Address Not ERISA Breach
Excerpt: "A federal judge has cleared a Texas company of wrongdoing for sending life insurance policy conversion forms to a participant's former job site instead of his house, causing the participant to miss the conversion deadline." (PLANSPONSOR.com; free registration required)
(c) Summaries of Guidance; Filed Comments
Massachusetts Issues Filing Instructions on Fair Share Contribution and HIRD Form Requirements under the Massachusetts Health Care Reform Act
Excerpt: "Though modestly titled 'Filing Instructions,' the document, which is organized into 11 separate topics or headings, provides a useful compliance roadmap. This client advisory summarizes the key topics of this DUA document." (Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.)
Overview: Final Guidance Established for Self-Insured Plans
Excerpt: "BNA publication Daily Report for Executives reports . . . that the IRS has issued Notice 2007-99, Modifying Notice 2007-7, Q&A to Incorporate Change Made by Pension Protection Act Pertaining to Distributions From Health, Accident Plans. Although BNA has text of the IRS Notice (available [from the target page]), the Notice will not be published in the Internal Revenue Bulletin until December 24, 2007. The Notice will allow for participants in self-insured plans to be considered eligible for the HELPS Retirees benefit." (National Conference on Public Employee Retirement Systems)
Overview of New Legal Guidance on HELPS Implementation (PDF)
9 pages. Excerpt: "The law firm of Klausner & Kaufman, PA has provided its clients, including NCPERS, with a memorandum of guidance on HELPS implementation and changes to IRS Form 1040. [Regarding exclusion of health insurance premiums.] " (National Conference on Public Employee Retirement Systems)
(d) Trends, Surveys, Research
UAW Contracts May Have National Ripple Effect
Excerpt: "[L]abor experts say the four-year contracts with General Motors (GM), Ford Motor (F) and Chrysler are indeed transformational. And they could reverberate throughout the manufacturing sector and even into the public sector as companies and government bodies look for ways to alter their cost structures. The UAW agreed to some radical changes, including taking control of retiree health care and allowing lower wages for new workers." (USA TODAY)
Transparency Matters: Employers Rate PBM Services
Excerpt: "Financial transparency remains the linchpin to a successful business relationship between an employer and a pharmacy benefit manager, reveals a new study by the Pharmacy Benefit Management Institute." (Employee Benefit News; free registration required)
Medical Carriers Tap Into Voluntary Market
Excerpt: "Although medical carriers continue to consolidate, that doesn't mean they are offering more of the same old thing. It appears more and more major medical companies are branching into the voluntary market, according to a study by Eastbridge Consulting. The depth of this trend varies widely as some companies are offering a full menu of voluntary products while others are just introducing one or two." (Employee Benefit Advisor; free registration required)
Study: Smoking Cessation Programs Could Save 5.6% of Costs ($9.7 Billion) for Medicare (PDF)
16 pages. Excerpt: "This report focuses on the costs of smoking to Medicaid. Many of the other costs of smoking to society are not included in the analysis, including medical costs to other payers (e.g., Medicare, private insurance, out-of-pocket payments), productivity losses, the effects of secondhand smoke and smoking during pregnancy, and valuations of changes in mortality and morbidity." (American Legacy Foundation)
NAHU Develops Health Promotion Credential
Excerpt: "The National Association of Health Underwriters has introduced a Wellness Certification course. The 2-hour course can give brokers information about how to help human resources managers implement wellness programs . . . ." (The National Underwriter Company; free registration or paid subscription required)
If You Want to Dramatically Improve Productivity in the Workplace -- Offer Depression Outreach
Excerpt: "During Web-based or telephone screening, 604 employees from 16 large employers from a wide variety of industries were identified with clinically significant depression. Half were given an intervention with telephone support from a care manager and their choice of telephone psychotherapy, in-person psychotherapy, or antidepressant medication. The other half were given only feedback about their screening results and advised to seek care from their usual provider. After one year, the employees in the intervention group were 40% more likely to have recovered from their depression, 70% more likely to stay employed, and worked an average of two hours more per week. The extra hours alone are worth $1,800 per employee per year, noted the researchers, which is much more than the $100 to $400 per person cost of the intervention." (Thomson American Health Consultants, Inc. via Human Resource Executive Online; free registration required)
Employers Use Stick-and-Carrot Approach for Wellness Programs
Excerpt: "Some employers are 'wielding a stick as well as a carrot' by encouraging workers to 'kick unhealthy habits' and enroll in employee wellness programs or contribute more to their health care costs, the Wall Street Journal reports." (Kaiser Family Foundation)
Primer on Long-Term Care and Long-Term Care Insurance
Excerpt: "Evaluating and comparing LTC insurance policies is more complex than with other forms of coverage. Fortunately, the National Association of Insurance Commissioners has written an informative booklet, 'A Shopper's Guide to Long-Term Care Insurance,' which is a very straightforward but comprehensive overview." (Employee Benefit News; free registration required)
(e) Policy, Opinion, Advocacy
Sorry, No Remedy: Another Example of the Grand Irony of ERISA
Excerpt: "Thanks to Steve Rosenberg at the Boston ERISA and Insurance Litigation Blog for bringing to my attention another recent example where ERISA falls horribly short in providing meaningful remedies to plan participants. Steve explains the case of Mitchell v. Emeritus Management from the United States District Court for the District of Maine." (Workplace Prof Blog)
Opinion: Hillary's False Claims -- A Response to the Candidate's Statement on the Health Insurance Industry
Excerpt: "Earlier this week, campaigning in New Hampshire, presidential candidate Hillary Clinton asserted that health insurance companies spend $50 billion to avoid paying claims. 'This is all part of their business model,' she was quoted as saying. 'This is how they make money, but it's so bad for the rest of us. I say to them, use the $50 billion to actually take care of people.' " (The Wall Street Journal via Council for Affordable Health Insurance)
Review of the 2008 Presidential Candidates on Health Care Reform -- Updated December 3, 2007 (PDF)
15 pages. Excerpt: "While it is still early in the campaign process and plan details are incomplete for most candidates, these summaries provide a snapshot of the candidates and their blueprint for reform. Our intent is to be thorough and accurate in compiling what they have said or indicated they want to do. As their plans take shape we intend to explain what their proposals mean for the health care system and for Americans' ability to have access to affordable coverage. But we also plan to eliminate their spin so that the public understands not just what the candidates have said, but what they mean." (Council for Affordable Health Insurance)
Opinion: Single-Payer Health Care Is the One Way
Excerpt: "Two important lessons can be learned. First, we need to sever the connection between healthcare and employment. People need continuous, portable coverage that is affordable, comprehensive, and equitable. Second, we cannot depend on the private insurance industry to provide this for us." (The Boston Globe via Physicians for a National Health Program)
Links to Items on Executive Comp, Benefits in General
Labor Force Projections to 2016: More Workers in Their Golden Years (PDF)
20 pages. Excerpt: "As the U.S. population ages, the labor force will grow more slowly during the next decade; the older labor force is projected to grow more than 5 times faster than the overall labor force . . . ." (U.S. Bureau of Labor Statistics)
PricewaterhouseCoopers Global Report Reveals 'Millennials'' Career Expectations
Excerpt: "A new global report from PricewaterhouseCoopers, 'Managing Tomorrow's People: The Future of Work to 2020,' illustrates how organizations need to adapt to the demands of a rapidly changing world and provides scenarios of future business models to help companies anticipate change and address how they will attract, retain, and motivate the people they will need in the future." (SmartPros Ltd.)
Hearing to Examine Executive Pay and Compensation Consultants
Excerpt: "On Wednesday December 5th the Committee will hold a hearing to examine the role played by compensation consultants in determining the pay packages of senior executives at the largest publicly traded corporations. Corporate governance experts, institutional investors, and compensation consulting firms will testify regarding the role of consultants in setting executive pay, efforts to prevent and manage conflicts of interest, and the adequacy of the information available to shareholders and the public." (U.S. House Committee on Committee on Oversight and Government Reform)
The SEC Targets 10b5-1 Plans -- Ten Things Executives and Boards Should Be Doing
Excerpt: "In striking similarity to the analysis that precipitated the option backdating cases, recent SEC attention is focused on reports of seemingly fortuitous returns generated by executives selling shares under automatic trading or 'Rule 10b5-1 Plans.' The heightened scrutiny follows an earlier study by a Stanford University School of Business professor that suggested returns under Rule 10b5-1 trading plans were substantially better than would be expected if the trading were truly automatic." (Paul, Hastings, Janofsky & Walker LLP)
Reporting a One-Time Tax-Free Movement of IRA Assets to an HSA
Excerpt: "IRA custodians/trustees report a qualified HSA funding distribution based on an individual's age, either younger than age 59-1/2 or already age 59-1/2." (Wolters Kluwer Financial Services)
IRS, Treasury Open Window to Correct Unintentional Deferred-Comp Errors
Excerpt: "The new relief gives taxpayers the chance to correct any mistakes made in complying with the rules -- known as 409A -- within the same year to avoid being penalized. Under 409A, employees themselves are punished, with any plan deemed not in compliance resulting in an immediate tax on the vested amount, plus a 20% penalty.' (Financial Week; free registration required)
New book: The Decision-Maker's Guide to Equity Compensation
The NCEO presents excerpts from its new book, The Decision-Maker's Guide to Equity Compensation. This book describes the full spectrum of equity compensation plans available to private and public companies. Unlike most books on equity compensation, it focuses on helping decision-makers decide what kinds of equity to choose, and who should get how much and when. The book also includes a CD-ROM with an audiovisual presentation by coauthor Corey Rosen on sharing equity with employees. (National Center for Employee Ownership)
Newly Posted Press Releases
The SPARK Institute Asks DOL to Clarify QDIA Regulations
SPARK Institute
Health Level Seven, America's Health Insurance Plans, And The Blue Cross And Blue Shield Association Sign MOU To Collaborate On Portability Standards For Personal Health Records
Blue Cross and Blue Shield Association
Newly Posted or Renewed Job Openings
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Senior Pension Administrator
for Milliman, Inc.
in CA
Health and Welfare Plan Manager
for The George Washington University
in DC
Field Service and Underwriting Manager
for Standard Insurance Company
in CA
Assistant 401(k) Administrator
for Huntingdon Valley, PA, third party administration firm
in PA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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