Health & Welfare Plans Newsletter |
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| June 11, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
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[Guidance Overview]
Are Stop Loss Carriers Subject to Prompt Pay Statutes?
Excerpt: "Stop loss insurance is frequently the subject of inquiry that borders on the metaphysical. Is it a form of accident and health insurance? Property and casualty insurance? Is it 'reinsurance'? This recent legal opinion from the New York Insurance Department is interesting. It required classification of stop loss insurance in the first instance. The ultimate question was whether stop loss carriers are subject to New York's prompt pay laws." (Roy Harmon III via Health Plan Law)
[Guidance Overview]
ERISA Does Not Preempt State Laws Preventing Insurers from Including Discretionary Language in Policies
Excerpt: "In American Council of Life Insurers v. Ross, case, 2009 U.S. App. LEXIS 5748,F.3d (6th Cir. 2009), the Sixth Circuit held that a Michigan law prohibiting insurers from including discretionary language in insurance policies fell within the scope of ERISA preemption 'savings clause' and was therefore enforceable. The court relied on the Supreme Court's Miller decision, which articulated a new test for determining whether a state law 'regulates insurance' and is, therefore, saved from ERISA preemption." (Passion for Subro)
Wellness and Prevention Likely to Survive Battle Over Health Care Reform
Excerpt: "Even before health care reform legislation has been formally introduced on Capitol Hill, skirmishes have broken out regarding proposals to establish a government-sponsored insurance program, tax health benefits and mandate employer coverage. But an area that has drawn high-profile activity by HR professionals -- wellness and prevention -- may survive the coming battle because it consistently draws bipartisan support." (Workforce Management; free registration required)
Hearing on the Family Income to Respond to Significant Transitions Act, and the Healthy Families Act
June 11, 2009. Excerpt: "[The hearing will] examine proposals for expanding workers' access to paid family and sick leave. While more than 80 percent of Americans support having paid sick days, the U.S. is the only country among the 22 nations ranked high in economic and human development that doesn't guarantee paid sick leave to workers. The FIRST Act, H.R. 2339, provides grants to the states to implement and improve their paid family leave programs. Healthy Families Act, H.R. 2460, mandates that businesses with 15 or more employees provide up to 7 days of paid sick days to their employees." (U.S. House of Representatives, Committee on Education & Labor, Workforce Protections Subcommittee)
Hearing on Examining the Single Payer Health Care Option
June 10, 2009. (U.S. House of Representatives, Committee on Education & Labor, Health, Employment, Labor, and Pensions Subcommittee)
Key Features of Tri-Committee Health Reform Draft Proposal in U.S. House of Representatives (PDF)
4 pages. Excerpt: "President Obama's Commitment: The Tri-Committee bill fulfills the President's commitment to health care reform via legislation that: Reduces costs; Protects current coverage and preserves choice of doctors, hospitals and health plans; and Ensures affordable, quality health care for all." (U.S. House of Representatives Committees on Ways and Means, Energy and Commerce, and Education and Labor)
The 2009 Health Confidence Survey: Public Opinion on Health Reform Varies (PDF)
20 pages. Excerpt: "Findings . . . indicate that Americans have already formed strong opinions regarding various aspects of health reform, even before details have been released regarding various key factors. These issues include health insurance market reform, the availability of a public plan option, mandates on employers and individuals, subsidized coverage for the low-income population, changes to the tax treatment of job-based health benefits, and regulatory oversight of health care. These opinions may change as details surface, especially as they concern financing options. In the absence of such details, the 2009 HCS finds generally strong support for the concepts of health reform options that are currently on the table." (Employee Benefit Research Institute)
How Capping the Tax Exclusion May Disproportionately Burden Children & Families (PDF)
10 pages. Excerpt: "This paper examines how proposals to cap the tax exclusion may unintentionally disadvantage [one] group - those with family plans - a subject yet to be discussed in the public discourse. The decision of where to set the cap needs to take into account the relative likelihood of single and family plan enrollees being directly impacted. While taxing health premiums to any extent may erode access to employer-sponsored insurance, policymakers should also be wary of changes to the tax treatment that disproportionately weaken families' access to insurance. At the very least, reform should create a level playing field." (Economic Policy Institute and First Focus)
Public Employers Respond to Financial 'Crisis' and Rising Health Care Costs by Raising Employee Cost Sharing, Premiums
Excerpt: "Nearly three-fourths of public employers are increasing or considering increasing their employees' cost sharing for health insurance, according to a recent survey conducted by the International Foundation of Employee Benefit Plans (IFEBP)." (Wolters Kluwer)
Savings Needed for Health Expenses in Retirement: An Examination of Persons Ages 55 and 65 in 2009 (PDF)
Pages of 20 pages. Excerpt: "This report updates earlier EBRI research on estimated savings needed to cover health insurance to supplement Medicare and out-of-pocket expenses for health care services in retirement. It finds that men age 65 in 2009 retiring this year will need anywhere from $68,000-$173,000 in savings to cover health insurance premiums and out-of-pocket expenses in retirement if they want a 50-50 chance of being able to have enough money, and $134,000-$378,000 if they prefer a 90 percent chance. With their greater longevity, women will need more: a women retiring at age 65 in 2009 will need anywhere from $98,000-$242,000 in savings to cover health insurance premiums and out-of-pocket expenses in retirement for a 50-50 chance of having enough money, and $164,000-$450,000 for a 90 percent chance." (Employee Benefit Research Institute)
Tax on Employment-Based Health Benefits Weighed
Excerpt: "A Senate plan to overhaul the nation's health system is likely to include a new tax on some employer-provided health benefits that exceed the value of the basic plan offered to federal employees, currently about $13,000 a year for a family of four, the chairman of the Senate Finance Committee said yesterday." (The Washington Post; free registration required)
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Links to Items on Executive Comp, Benefits in General
[Official Guidance]Text of Interim Final Regs on TARP Standards for Executive Compensation and Corporate Governance (PDF)
123 pages; this version was announced by the Department of the Treasury to the public in a press release on June 10. The press release includes an overview of the rules; it is online at http://www.treas.gov/press/releases/tg165.htm (Internal Revenue Service)
Obama Administration to Unveil 'Say on Pay' Measure
Excerpt: "Administration officials have suggested legislation to give shareholders and federal securities regulators more of a say on executive compensation at publicly traded companies." (PLANSPONSOR.com; free registration required)
Health Benefits Costs 7% of Total Private Employer Compensation Costs
Excerpt: "Employer costs for employee compensation averaged $29.39 per hour worked in March 2009, the U.S. Department of Labor's Bureau of Labor Statistics reported." (PLANSPONSOR.com; free registration required)
Eighth Circuit Instructs District Courts on Attorneys' Fees
Excerpt: "This recent Eight Circuit case--Pendleton v. QuickTrip Corporation--is an ERISA 510 case that did not make it past a Motion for Summary Judgement. However, the case is noteworthy for the court's discussion of attorneys' fees . . . ." (Attorney B. Janell Grenier via Benefitsblog.com)
[Opinion]
Protecting Non-Qualified Deferred Compensation: The Secular Trust
Excerpt: "[In addition to economic conditions and the complexities of 409A, other factors aiding the] resurgence in the use of secular trusts are: Rev. Rul. 2007-48, which coherently laid out the tax rules that apply to each party under a secular trust. The certainty of taxation is an important objective for companies and executives alike (and trustees too). The likelihood of rising income and social security tax rates in the future (maybe accelerating income into 2009 is not such a bad idea?), and The difficult economy (a secular trust is the only way to protect non-qualified plan benefits from the claims of creditors)." (Michael Melbinger via Winston & Strawn LLP)
Press Releases
PBGC Protects Pensions at Milacron Inc.Pension Benefit Guaranty Corporation (PBGC)
Chrysler Pension Plans Continue Under New Company Sponsorship
Pension Benefit Guaranty Corporation (PBGC)
Americans Show Support for Several Health Coverage Options, But Their Views Could Change as More Details Emerge
Employee Benefit Research Institute (EBRI)
New Tool Simplifies Reporting Fair Value Measurement of Retirement Plan Assets
Principal Financial Group
Statement by Treasury Secretary Tim Geithner on Compensation
U.S. Treasury Department
SouthWest Benefits Association Elects New Board of Directors
SouthWest Benefits Association
Interim Final Rule on TARP Standards for Compensation and Corporate Governance
U.S. Department of Treasury
CEFEX Acknowledges 63 Certifications
Centre for Fiduciary Excellence (CEFEX)
Workplace Benefits Association Offers White Paper: "Best Practices to Prepare for National Health Care Reform"
Workplace Benefits Association
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