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March 20, 2009 |
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[Official Guidance]
From DOL: Federal Register Announcement and Explanation of COBRA Model Notices (PDF)
Excerpt: "Each package is designed for a particular group of qualified beneficiaries and contains all of the information needed to satisfy the content requirements for ARRA's notice provisions. The packages include the following disclosures: [1] A summary of ARRA's premium reduction provisions. [2] A form to request the premium reduction. [3] A form for plans (or issuers) who permit qualified beneficiaries to switch coverage options to use to satisfy ARRA's requirement to give notice of this option. [4] A form for an individual to use to satisfy ARRA's requirement to notify the plan (or issuer) that the individual is eligible for other group health plan coverage or Medicare. [and 5] COBRA election forms and information, as appropriate." (Employee Benefits Security Administration, U.S. Department of Labor)
[Official Guidance]
DOL Information for Participants on Review of COBRA Subsidy Denials
Excerpt: "Appeals to the Department of Labor must be submitted on a U.S. Department of Labor application form. The form will soon be available at www.dol.gov/COBRA and can be completed online or mailed or faxed as indicated in the instructions. If you believe you have been inappropriately denied eligibility for the premium reduction, you may wish to speak with an Employee Benefits Security Administration Benefits Advisor at 1.866.444.3272 before filing this form." (Employee Benefits Security Administration, U.S. Department of Labor)
[Official Guidance]
Compliance Assistance Webcast from DOL: New COBRA Provisions in the American Recovery and Reinvestment Act of 2009
Coming March 24, 2009. (Employee Benefits Security Administration, U.S. Department of Labor)
[Guidance Overview]
COBRA FAQ Updates from DOL Provide New Compliance Guidance (PDF)
Excerpt: "The new DOL fact sheets and other explanatory material contain some bits of useful information. These include: ? Election of the COBRA premium subsidy disqualifies the person for the Health Coverage Tax Credit (as enhanced by ARRA). ? Unless specifically modified by ARRA, the existing COBRA notice 'matter and timing' rules continue to apply. . . . [More, not shown.]" (Aon Consulting)
[Guidance Overview]
Model Notices for New COBRA Rules Issued; Effects on Separation Pay Agreements
Excerpt: "Many separation pay arrangements provide that an employer will pay all or a portion of an employee's COBRA premium. Such arrangements, however, will not permit the employer to claim a tax credit for the 65 percent of the COBRA premium because, as stated above, the employee, or someone acting on the employee's behalf other than the employer, must pay the employee's 35 percent share of the COBRA premium for these new rules to apply. Moreover . . . . " (Buchanan Ingersoll & Rooner)
[Guidance Overview]
COBRA Model Forms Raise Issues
Excerpt: "The [model COBRA notices issued on March 19] are pretty good, but there are two serious problems. (1) The distribution instructions on the website are in clear conflict with the instructions in the headers of the form packages. (2) There is no help in defining the term 'involuntary termination." (theworkplace.biz)
[Guidance Overview]
EEOC Proposed Regulations Clarify Definitions and Prohibitions of GINA
Excerpt: "Title II of GINA prohibits employers and other covered entities from discriminating [in insurance and employment] on the basis of genetic information. The proposed regulations are designed to provide additional guidance regarding a covered entity's obligations pursuant to Title II. " (McGuireWoods)
[Guidance Overview]
Major Changes to HIPAA Privacy and Security Rules Are on the Way
Excerpt: "The most significant change in the new rules is the extension of certain HIPAA provisions to 'business associates.' . . . . Under ARRA, certain HIPAA security provisions now apply directly to business associates to the same extent that such provisions apply to covered entities . . . . This is a major sea change for business associates such as third-party administrators and other vendors who previously thought that their sole legal obligation was to comply with the terms of the business associate agreement." (Spencer Fane)
[Guidance Overview]
IRS Answers Questions on the COBRA Premium Assistance Subsidy and Form 941
Excerpt: "The new guidance addresses how employers and multiemployer plans file for reimbursement of the subsidy using Form 941. . . . Of particular importance for those employers and multiemployer plans that do not have a payroll tax liability, the guidance states that all entities claiming reimbursement of the subsidy should use the Form 941." (Segal)
HHS Names Panel of 15 Experts to Advise Government on Spending for Comparative Effectiveness Research
Excerpt: "HHS on Thursday named 15 members to a panel that will advise the government on how to spend the $1.1 billion in federal stimulus funding dedicated to comparing the effectiveness of medical treatments . . . . AHRQ Director Carolyn Clancy said, 'The council will offer advice and recommendations on research priorities and will not recommend clinical guidelines.' This research will aim to provide doctors with information on how different treatments work, according to Clancy." (KaiserNetwork.org)
Cash-Strapped Washington State's King County Faces $67 Million Retiree Medical Bill
Excerpt: "Currently the county is obligated to pay 100 percent of the lifetime medical expenses for participants . . . . King County Budget Director Bob Cowan said the ultimate expense for the county could be $67 million. . . . [T]he retirement program is the only one that included long-term care, meaning employees' nursing home costs must also be paid for, which could some times run up to $15,000 a month per person." (SeattlePI.com)
Health Tax Break: Sacrosanct No More
Excerpt: "President Obama wants to create a $634 billion fund to pay for health care reforms. Leading lawmakers appear willing to go along, but they're not keen on how he has proposed to pay for a big part of it. Obama wants to cap how much of a deduction high-income taxpayers may take. The administration estimates doing so could raise $318 billion over 10 years." (CNN Money)
University Conference Services (Advert.)
Taking a Closer Look at Your Health Care Dollars With an uncertain economy, premium increases that continue to outpace inflation, and a new administration in the White House pushing for change, offering a strong health care plan isn't easy -- or cheap. But making the most of your health care dollars has never been more critical. The Boston Health and Welfare Plan Management for Mid-Sized Employers Conference, April 26–29, is your source for solutions to the formidable challenges you face. |
Links to Items on Executive Comp, Benefits in General
[Guidance Overview]Fat Firefighters, Rescue Workers Alarm Researchers
Excerpt: "These conditions also carry a high price tag for government health, disability and pension plans . . . ." ([Wilmington, NC] Star-News)
[Guidance Overview]
TARP Curbs on Executive Pay May Have Some Bite
Excerpt: "[We] compare the compensation of CEOs at two banks -- one that took TARP money and one that didn't." (Wall Street Journal)
Research Shows Recent Executive Equity Grant Values Reduced by 28 Percent Year-over-Year (PDF)
Excerpt: "It is common, and relatively easy, to deliver . . . equity compensation year to year in an environment of stable and modestly rising stock prices; however, this is not the case when share prices have dropped 30 percent to 50 percent (or more) as we've seen over the past year." (Buck Consultants)
U.S. Births Break Baby Boom Record
Excerpt: "The 4,317,119 births, reported by federal researchers Wednesday, topped a record first set in 1957 at the height of the baby boom. . . . On average, a U.S. woman has 2.1 babies in her lifetime. That's the 'magic number' required for a population to replace itself. Countries with much lower rates -- such as Japan and Italy -- face future labor shortages and eroding tax bases as they fail to reproduce enough to take care of their aging elders." (AP via ChicagoTribune.com)
[Opinion]
Pension Busts and Market Booms Ahead as World Rides the Demographic Wave:
Excerpt: "The idea that aging will have a profoundly negative impact on the global economy has been around for decades but has been dismissed or taken a back seat to other more 'important' problems. Unfortunately, all the years spent avoiding the aging & pension problem has served to magnify the issue." (RGE Monitor)
Webcasts and Conferences
(Click to post your webcast or conference)"Making and Taxing Corrective Distributions After PPA" Archived Web Seminar
Nationwide on March 19, 2009
presented by SunGard Relius
Annual Educational Workshop
in Florida on April 23, 2009
presented by Florida West Coast Employee Benefits Council
Employee Benefits Jobs
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DC/401(k) Plan Administrator
for Shore Tompkins Actuarial Resources, LLC
in IL
Pension Administrator
for Altigro Pension Services, Inc.
in NJ
DB Consulting Actuary
for Hooker & Holcombe, Inc.
in CT
Defined Contribution Administrator
for The Benefit Practice
in CT
Pension Administrator
for AKT Retirement Plan Services LP
in CA
EmployeeBenefitsJobs.com (Sponsor)
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