Health & Welfare Plans Newsletter |
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| June 19, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
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[Guidance Overview]
Managing Intermittent Leave Under the FMLA
Excerpt: "Managing intermittent and reduced schedule leaves can be difficult for employers. When the Department of Labor began the process of revising the FMLA regulations, it received more public comments regarding employees' unscheduled use of intermittent leave than any other topic. Although the final regulations made only a few significant changes in response to these comments, they do offer employers some tools to help manage intermittent and reduced schedule leaves. This article discusses the requirements under the revised regulations that apply to employees and employers when employees take FMLA leave on an intermittent or reduced schedule basis." (Faegre & Benson)
[Guidance Overview]
Pennsylvania Enacts Mini-COBRA Law
Excerpt: "While Pennsylvania's Mini-COBRA law mirrors the Federal COBRA statute in many ways, there are significant differences, including: Mini-COBRA is available for nine months, as opposed to 18 or 36 months under Federal COBRA; Mini-COBRA applies only to hospital, surgical, and major medical policies, and does not apply to vision and dental plans; Mini-COBRA requires three months of coverage before employees become eligible as opposed to one day of coverage under Federal COBRA; Mini-COBRA ends upon eligibility for Medicare or group hospital, surgical or major medical coverage; whereas Federal COBRA eligibility ends upon actual enrollment or coverage; Mini-COBRA requires employee verification of non-eligibility for employer-based health insurance as a dependant through, for example, a spouse's group health plan; and Insurers, and not employers, bear responsibility for notifying eligible employees about their rights under Mini-COBRA. The plan administrator, or the employer if there is no designated plan administrator, is responsible for notifying the insurer of an employee's Mini-COBRA election within 14 days of receipt." (Blank Rome LLP)
Congressional Research Service Report: Health Insurance Reform and the 111th Congress (PDF)
24 pages. Excerpt: "This report presents basic background on health insurance that may be useful to legislators considering health insurance reforms. It describes reform approaches and provides brief descriptions of health insurance reform bills introduced in the 111th Congress, as well as some of the general principles currently being considered by the Congress. The potential impact of the various approaches and bills is not analyzed in this report, however. As a result, it does not provide evaluations of how well different bills, once enacted, would meet their objectives." (U.S. Congressional Research Service)
Report Says Healthcare Costs to Rise 9% in 2010
Excerpt: "Employers who offer health insurance coverage could see a 9% cost increase next year, and their workers may face an even bigger hit, according to a report from consulting firm PricewaterhouseCoopers. Costs will rise in part because workers worried about losing their jobs are using their healthcare more while they still have it, the firm said in the report. The report also said rising unemployment is driving up medical costs." (HealthLeaders Media)
[Opinion]
Understanding Health Insurance Cooperatives
Excerpt: "For co-op proponents, a non-negotiable is they must be nonprofits. They take this position because of the Left's general animosity to profit-making entities -- especially when it comes to health care. But one of the least discussed elements in the current reform debate is that there are lots of nonprofits in the health care system, including hospitals and health insurers. And no one has shown that nonprofit hospitals and insurers provide their services for less. Indeed, some nonprofits will charge more than many for-profits." (Congressional Health Care Caucus)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]Service Provider's Notice of Overpayment Imputed to Plan Administrator
Excerpt: "The Fifth Circuit recent affirmed this district court opinion wherein the court held that a two year statute of limitations applied and that knowledge of an 'overpayment' by a service provider may be imputed to the plan administrator for purposes of the discovery rule." (Roy Harmon III via Health Plan Law)
Proposed IRS Paradoxical Changes to Tax Rules for Employer-Provided Cell Phones
Excerpt: "[T]he Internal Revenue Service (IRS) has proposed three alternative methods for meeting the substantiation requirements and has invited public comment on the proposed new rules. (See IRS Notice 2009-46). Adding to the confusion, the Commissioner of the IRS has recently announced that the Obama administration is asking Congress to change the current tax laws to eliminate any tax consequences to employers or employees for personal use of work-related cellular phones and PDAs. Both of these developments are described in greater detail [in the target document]." (McGuireWoods LLP)
[Guidance Overview]
More States License Same-Gender Marriages
Excerpt: "Maine, Vermont and New Hampshire have joined Massachusetts and Connecticut in licensing same-gender marriages, and legislation is pending in other states (most notably New York). Iowa has also started to license same-gender marriages in response to a court decision from that state's highest court." (The Segal Group, Inc.)
[Guidance Overview]
July 1, 2009, Is a Key Date for Section 457A Transition Relief
Excerpt: "Companies with significant non-U.S. income, and partnerships that include foreign or tax-exempt partners, will need to assess whether new Internal Revenue Code Section 457A applies to their deferred compensation plans. If so, they will need to decide whether to take advantage of transition relief by amending plans to provide for immediate vesting before July 1, 2009." (Seyfarth Shaw LLP)
[Guidance Overview]
'Say on Pay' Votes to Become Mandatory Under Obama Administration Proposal (PDF)
3 pages. Excerpt: "On June 17, President Barack Obama proposed broad changes to the manner in which the U.S. government supervises financial markets. Among the numerous elements of the administration's plan is a requirement that public companies implement 'say on pay' rules, under which they would submit executive compensation packages to a nonbinding vote of their shareholders. The brief description contained in the plan suggests that the 'say on pay' requirement would extend to all public companies, regardless of size, though details of the proposal and the timing of any eventual adoption have not yet been announced." (Morgan, Lewis & Bockius LLP)
[Guidance Overview]
TARP Compensation Guidance and Other Executive Compensation Proposals
Excerpt: "The Department of the Treasury, the Securities and Exchange Commission, and Congress have continued their assault on executive compensation practices. Some of these recent measures will have an immediate impact on TARP recipients, while other actions prescribe guidelines or principles or set forth proposals for further consideration, all of which may influence or subsequently change compensation disclosure and 'best' practices for all public companies." (Jones Day)
[Guidance Overview]
TARP Guidance on Compensation and Corporate Governance from Treasury (PDF)
11 pages. Excerpt: "This letter discusses the provisions of the interim final rule applicable to TARP recipients that received financial assistance under the Capital Purchase Program. The discussion of the extensive provisions of the interim final rule, after explaining who is a 'covered employee,' is organized into two main topics: (1) the provisions that affect the compensation of covered employees and (2) the provisions that impose structural limits and administrative procedures with respect to executive compensation." (Frederic W. Cook & Co., Inc.)
[Guidance Overview]
Treasury Dept. Equity Purchases Under EESA Are Not Code Sec. 409A Permissible Payment Events
Excerpt: "CCH Note: This guidance does not address whether a Treasury equity acquisition transaction under EESA is a change in ownership or effective control, or a change in the ownership of a substantial portion of the assets of the corporation, for any other purpose. . . . The IRS intends to amend the regulations under Code Sec. 409A to incorporate this guidance. The guidance is effective for, and the amended regulations will be applicable to, Treasury equity acquisition transactions pursuant to EESA occurring on or after June 4, 2009." (Wolters Kluwer)
Press Releases
Target-Date Funds Require Better Benchmarking, Watson Wyatt SaysWatson Wyatt
Older Workers Delaying Retirement, Watson Wyatt Survey Finds
Watson Wyatt
ExpertPlan Purchases ADP's Retirement Services TPA Program Business in Kansas
ExpertPlan
ExpertPlan Hires Steven Hart as VP of Sales and Business Development
ExpertPlan
Target-date Fund Regulations Must Focus on Existing Investment Selection Process, Provide Flexibility
American Benefits Council
John Marshall's Kathryn Kennedy Named To IRS Advisory Committee For TE/GE
John Marshall Law School, The
(Click to post your press release)
Employee Benefits Jobs
401(k) Relationship Managerfor Wells Fargo Advisors, LLC.
in CA
Director, Communication & Education Consultant
for Prudential Financial
in CT
Education & Enrollment Specialist
for Prudential Financial
in NE
(Click to post your job opening | View all jobs |
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