Health & Welfare Plans Newsletter |
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| June 10, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
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[Guidance Overview]
Nevada Expands Parental Leave for Employees Attending School-Related Activities
Excerpt: "On May 28, 2009, Governor Jim Gibbons signed into law AB 243 expanding the leave entitlements of employees for attending or participating in school activities of their children. AB 243 expands leave in two significant ways. First, AB 243 extends the current protections of Nevada Revised Statutes section 392.920 to the parents, guardians and custodians of children enrolled in private as well as public schools. Second, AB 243 requires employers of 50 or more employees to grant employees up to 4 hours of unpaid leave per school year for each child enrolled in school, to attend certain school-related activities. AB 243 becomes effective August 15, 2009." (Littler Mendelson P.C.)
Health Care Reform: The Devil Is in the Details
Excerpt: "Two pressure points are emerging in Congress's rush to pass health-care legislation by the August break: how to pay for the package and whether to create a new public health-insurance plan. Douglas Elmendorf, director of the Congressional Budget Office, said Monday his office has given lawmakers a 'tremendous quantity of numbers' as they weigh how much it will cost to extend coverage to millions of uninsured Americans and how much revenue will be raised by proposed tax increases." (The Wall Street Journal)
Understanding the Proposed House Democrats' Health Care Bill
Excerpt: "[Provided is a link to] a three-page outline of Key Features of the Tri-Committee Health Reform Draft Proposal in the House of Representatives . . . ." (Attorney B. Janell Grenier via Benefitsblog.com)
Health Care Bills Begin to Crystallize in Congress
Excerpt: "House leaders outlined a health-care overhaul plan that would create a national health-insurance 'exchange' for consumers and include a government-run plan as one option, while Sen. Edward Kennedy introduced a similar bill in the Senate. The draft House plan, presented to House Democrats at a meeting Tuesday, would require almost all Americans to have health insurance and provide subsidies to those with annual incomes as high as four times the poverty level. People without insurance could find a plan on an insurance exchange that would be set up by the government." (The Wall Street Journal)
Democrats Nearing Consensus on Health Plan
Excerpt: "A broad consensus on the contours of legislation to remake the nation's health care system appeared to be developing among Democratic leaders on Tuesday as three House committee chairmen outlined a bill generally similar to one being written in the Senate. Democratic leaders in both houses said they would require individuals to carry insurance and employers to help pay for it. But they have yet to decide how to raise the necessary tax revenue. Leaders in both chambers said they wanted to establish a new public health insurance program, which would compete with private insurers. But they have not settled on the details." (The New York Times; free registration required)
Recession Hits COBRA Continuation Coverage, According to Survey
Excerpt: "Eligibility for COBRA continuation of coverage soared in 2008, while actual elections for the coverage plummeted, clear effects of the economic recession that began in 2008, according to the most recent COBRA continuation survey from Spencer's Benefits Reports. The 2009 COBRA survey also will provide a baseline of COBRA experience at the height of a recession but before the temporary 65% COBRA subsidy took effect." (Wolters Kluwer)
Addressing Health Care Market Reform Through an Insurance Exchange: Essential Policy Components, the Public Plan Option, and Other Issues to Consider (PDF)
24 pages. Excerpt: "A key element being discussed as part of health reform -- the creation of a health insurance exchange that would offer new forms of insurance pooling, combined with an individual mandate and guaranteed issue -- would restructure the health insurance market and has major implications for the existing employment-based benefits system that provides the majority of Americans with health coverage, according to [the study.]" (Employee Benefit Research Institute)
Alternative Medicine Being Integrated into Mainstream Health Care
Excerpt: "Alternative medicine has become mainstream. It is finding wider acceptance by doctors, insurers and hospitals like the shock trauma center at the University of Maryland Medical Center. Consumer spending on it in some cases rivals that of traditional health care. People turn to unconventional therapies and herbal remedies for everything from hot flashes and trouble sleeping to cancer and heart disease. They crave more 'care' in their health care. They distrust drug companies and the government. They want natural, safer remedies." (HuffingtonPost.com, Inc.)
Limiting Employer Tax Exclusion May Help Pay for Health Reform
Excerpt: "The current exclusion is poorly designed, which gives a greatest benefit to those with higher incomes, according to the report. The higher exclusion can provide an incentive for employers and individuals to select more generous or costly coverage, which in turn could lead to an increase in healthcare service demand that pushes up prices. In a way, limiting tax exclusions could push in the direction of greater efficiency in the healthcare system. . . . Those with higher benefits might end up seeking more economical plans that use resources more effectively." (HealthLeaders Media via HCPro, Inc.)
Businesses Dispute Need for Federal Mandated Sick Leave
Excerpt: "The Healthy Families Act (HFA), legislation introduced in Congress last month by Sen. Edward M. Kennedy, Massachusetts Democrat; Sen. Christopher J. Dodd, Connecticut Democrat; and Rep. Rosa DeLauro, Connecticut Democrat, will make its subcommittee debut Thursday. Businesses are scrambling to oppose the federal legislation, saying that mandated sick leave will result in more wage and job cuts in an already turbulent economy." (The Washington Times)
Kennedy Health Care Plan Still Lacking Some Details
Excerpt: "Massachusetts Sen. Edward Kennedy released his sweeping health care reform legislation Tuesday, June 9, though key issues such as employer mandates and a government-run health plan option have not yet been finalized. The latest iteration of Kennedy's bill, the Affordable Health Choices Act, provides more guidance on the kinds of subsidies small employers can expect to receive in exchange for providing health insurance to employees, but generally resembles a draft that was leaked last week." (Workforce Management; free registration required)
[Opinion]
Workplace Flexibility versus Unpaid Leave
Excerpt: "Rather than relying on costly mandates like the FMLA, the government should consider policies that increase workplace flexibility. For instance, many employees would prefer to receive compensatory time off in lieu of overtime pay, but the Fair Labor Standards Act (FLSA) requires overtime work to be compensated with time-and-a-half cash wages. This means that employees who work extra hours one week are unable to offset those hours with comp time in a subsequent week. Since the 1970s, federal and state employees have been allowed to substitute comp time off in lieu of overtime wages. Private sector workers should have similar options." (National Center for Policy Analysis)
[Opinion]
Should Offshore Surgery Be Welcomed As Modest Way to Make American Health Care More Affordable?
Excerpt: "ONE consequence of the high cost of medical care in the United States has been the rise of medical tourism. Every year, thousands of Americans undergo surgery in other countries because the allure of good care at half the price is too good to pass up. Average total fees at well-regarded hospitals like Apollo and Wockhardt in India are 60 percent to 90 percent lower than those of the average American hospital, according to a 2007 study by the consulting group Mercer Health and Benefits (where Dr. Milstein is affiliated). Even compared with low-cost American hospitals, the offshore fees are 20 percent to 50 percent lower." (The New York Times; free registration required)
[Opinion]
An Employee Benefit Consultant's Perspective on Health Care Reform: The Fundamental Problem
Excerpt: "EBS believes in the need to reform our health care delivery and financing system. We believe that the fundamental problem with the current system is that the rate of increase in cost is not controlled in any effective manner. America will not have true health care reform if it does not address all of the cost drivers in a meaningful way." (Employee Benefit Solutions)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]A Sidebar to Journal of Accountancy Article: 'Executive Compensation: What's Reasonable?'
Excerpt: "[In the 1983 decision by the Ninth Circuit Court of Appeals in Elliotts Inc. v. Commissioner, t]he court considered a company's profitability to be persuasive when it can be attributed to the proven capability and efforts of an owner/employee. The court considered five factors in determining the nature and quality of that person's services: his or her role in the company (position, duties, hours worked and general importance to the company's success); an external comparison (what similarly situated corporations pay for similar services); the character and condition of the company (sales, net income and capital value in light of complexities of the business and general economic conditions); conflicts of interest (whether the relationship between the company and the owner/employee might bias the salary level); and internal consistency (comparing the owner/employee's pay to that of other employees)." (American Institute of Certified Public Accountants)
Executive Compensation: What's Reasonable?
Excerpt: "One factor in determining reasonable compensation that has gained prominence in some circuits, particularly the Seventh, is the value of the employee's contributions as reflected in the return on equity (ROE) of a hypothetical independent investor in the corporation, and the effect of that compensation on ROE. These are calculations CPAs are well-equipped to assist companies in making." (American Institute of Certified Public Accountants)
SEC Updates Executive Pay Disclosure Guidance, Considers Rule Changes
Excerpt: "New SEC Compliance & Disclosure Interpretations (C&DIs) clarify executive pay disclosures under Regulation S-K -- and contain some surprises. Issues addressed include how to fill out the Summary Compensation Table for NEOs serving fewer than three years, when to report tax gross-ups, whether to disclose life insurance proceeds, and how to calculate and report various equity incentives. In recent remarks, the SEC chair indicates the commission also is considering a variety of changes to expand and revise its executive pay disclosure rules." (Mercer LLC)
White House to Appoint Pay Czar, Issue Guidance on TARP Restrictions
Excerpt: "The Obama administration is expected to soon appoint Kenneth Feinberg to oversee executive pay curbs that apply to companies participating in the Troubled Assets Relief Program (TARP). As 'special master for compensation,' Feinberg will play a large role in the implementation of impending guidance on the complex TARP pay restrictions, which apply to incentive pay that encourages 'unnecessary and excessive' risks, golden parachutes, tax deductions for pay, clawbacks and bonuses." (Mercer LLC)
Webcasts and Conferences
"ERPA Test Review - Part I" Web Seminar - July 2009 onlyNationwide on July 14, 2009
presented by SunGard Relius
"ERPA Test Review - Part II" Web Seminar - July only
Nationwide on July 28, 2009
presented by SunGard Relius
Benefit Statement Software No-Cost Web Seminar
Nationwide on June 17, 2009
presented by Benefit Software Inc.
ERPA Bootcamp
in Illinois on June 26, 2009
presented by The Center for Tax Law and Employee Benefits at The John Marshall Law School in Chicago
Online Benefits Enrollment No-Cost Web Seminar
Nationwide on June 11, 2009
presented by Benefit Software Inc.
Total Rewards No-Cost Web Seminar
Nationwide on June 11, 2009
presented by Benefit Software Inc.
(Click to post your webcast or conference)
Press Releases
Wasserstein Consulting Uses Fringe Facts® Communicator to Help Clients Bolster Employee Confidence in Volatile EconomyBenefit Software Inc.
Diversified Investment Advisors Introduces Retirement Readiness Report
Diversified Investment Advisors
Nonqualified Deferred Compensation Plans as Popular as Ever, According to 2008 MullinTBG/PLANSPONSOR Survey
Prudential Financial, Inc.
ASR Applauds the Introduction of Comprehensive Retirement Security Legislation in the U.S. House
Americans for Secure Retirement (ASR)
The Standard Launches Absence Management Services
The Standard
Charles Schwab Releases Data on Employer and Worker 401(k) Behavior
Charles Schwab Corporation
(Click to post your press release)
Employee Benefits Jobs
Defined Contribution Analyst Ifor The Standard
in OH
Tead Lead II RP Administration
for The Standard
in OR
Defined Contribution Analyst I
for The Standard
in OR
Account Manager I - SRS
for The Standard
in OR
Senior 401(k) Analyst
for Nationwide healthcare company located in North Houston
in TX
Manager, Mutual Fund Services
for Wilmington Trust Company
in AZ
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