Health & Welfare Plans Newsletter |
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| June 25, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
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[Guidance Overview]
COBRA Continuation Health Coverage Under the American Recovery and Reinvestment Act (PDF)
Excerpt: "In general, COBRA coverage is based on the same coverage that a former employee had before they experienced an involuntary termination. Under ARRA, an employer may offer an eligible former employee the option of choosing other coverage that is offered to active employees and that does not have higher premiums than the coverage the eligible former employee had at the time of his or her involuntary termination." (WoltersKluwer Company via Winston & Strawn LLP)
[Guidance Overview]
Expanded HIPAA Requirements and HHS Guidance on Securing Protected Health Information
Excerpt: "On April 17, the Department of Health and Human Services (HHS) released guidance on technologies and methodologies for securing PHI, which takes effect immediately. Employers will have to review and possibly update agreements with business associates, revise privacy practices and systems, update notices about privacy practices and make other changes. The effective dates generally vary by provision -- the stricter penalties are already in effect, while other changes and requirements take effect next year or later." (Watson Wyatt Worldwide)
[Guidance Overview]
ERISA Plan Prevails on Plan Reimbursement Claim
Excerpt: "This ERISA plan reimbursement case applies the Sereboff holding to find in favor of an ERISA plan's claims to specifically identifiable funds held in an attorney's trust account following a personal injury settlement." (Roy Harmon III via Health Plan Law)
Tracking the Money in the Health Care Debate
Excerpt: "Three huge bills are bubbling on Capitol Hill right now: financial regulation, a new energy policy and health care reform. It's a historic confluence of issues that, as a consequence, has the Capitol swarming with lobbyists and awash with money. NPR is launching a new investigative series to report on these Dollar Politics." (Morning Edition via National Public Radio)
Health Care Reform Legislation Could Bring Changes in the Way Employers Structure Group Health Plans
Excerpt: "[With a public plan,] Large employers would be subject to a pay-or-play mandate. They could choose to continue their existing plans, adjusting the benefit design and eligibility if needed to satisfy federal standards as well as subsidizing a portion of the cost of coverage to be determined by Congress. Employers failing to offer this minimum coverage and to adequately subsidize it would be required to make a per-employee payment to the government. Amounts currently under consideration are $6,000 per year or possibly 6% of payroll. One of the lead proposals under consideration in Congress provides that the employer would still be required to send the 'normal contribution' to the exchange for employees who declined to enroll in the employer's plan and instead obtained private coverage." (Towers Perrin)
Comparing the Impact of Selected Policy Options for Financing Health Reform
Excerpt: "A number of policies have been proposed to expand health insurance coverage and improve health system performance in a financially sustainable way. To illustrate how the potential impact of such reforms depends heavily on the details and structure of the reforms, the authors examine estimates from three sources: a recent Commonwealth Fund report containing projections prepared by The Lewin Group; the Office of Management and Budget; and the Congressional Budget Office. Estimates from all three sources indicate that early investments in reform could yield significant reductions in total health care spending over time through gains in the quality and efficiency of care." (The Commonwealth Fund)
Senators Worry That Health Overhaul Could Erode Employer Insurance Plans
Excerpt: "As part of an ambitious plan to overhaul the health care system, Democrats in both houses of Congress want to require people to carry insurance. They would offer subsidies to low- and moderate-income people who buy coverage through a new regulated market known as a health insurance exchange. Employers who do not provide coverage might have to pay penalties or contribute to a government fund. Higher penalties are more effective in preventing the erosion of employer-sponsored coverage, the bedrock of insurance for more than 150 million Americans, the Congressional Budget Office told lawmakers." (The New York Times; free registration required)
Employers Are Increasingly Using Principles of Behavioral Economics to Craft Health Benefits
Excerpt: "Employees at [some] firms must now choose to opt out of the mail-order pharmacy if they want to get their drugs at a retail pharmacy instead. Since the program started, the number of Lowe's employees enrolled in mail order has doubled, the company said. Lowe's embrace of this opt-out strategy is one of the latest examples of how employers are taking into account the way people actually behave -- rather than how employers wished people acted -- when designing benefit programs. These lessons from the field of behavioral economics, which looks at the psychological side of economic decisions, are helping to shape health benefits." (Workforce Management; free registration required)
What Businesses Can Do About Swine Flu
Excerpt: "'We've done extensive research on disaster planning for businesses,' says John Thomas, a risk-management specialist at Stearns Financial Services Group in Greensboro, North Carolina. 'And we believe owners may have six months or less to prepare for a possible 'second wave' of swine flu infections, which could be more deadly than this first.' The smart move, then, is to get in front of the tide. You want to be ready in case the outbreak turns even more serious or a different kind of pandemic surfaces that is much worse." (Microsoft)
National Business Group on Health Recognizes 'Corporatewide Culture of Health'
Excerpt: "The National Business Group on Health (NBGH) has recognized 63 large employers - representing the full spectrum of the U.S. economy - as '2009 Best Employers for Healthy Lifestyles' award winners for their exceptional commitment to a healthy workplace and for helping their employees and families make better choices about their own health and well-being." (PLANSPONSOR.com; free registration required)
[Opinion]
Myth: Preventive Care Saves Money
Excerpt: "As our country continues to move toward consolidation of major insurance companies, over time there may be only a handful of health insurance companies in the United States covering virtually all people who have employer-based coverage. No matter who the employer is, the insurers would clearly see that it would be to everyone's benefit to cover prevention since they, as well as the patients and employers, will all eventually benefit in terms of staying healthier and having decreased absenteeism. So, prevention does save money for the employer as long as the employee is working because that particular worker, as well as all workers, stays healthier and is more productive. In a study that reviewed 73 worksite health promotion programs over four years, the benefit of prevention was clear: For every dollar spent on keeping employees healthy, $3.50 was saved in reduced absenteeism and health care costs." (Governing.com)
BenefitsLink Vendor Directory (Advert.)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]Correcting FICA Errors
Excerpt: "Correcting an employment tax error that is discovered in the year in which the error occurs is generally a simple process. However, employers often discover such errors after the close of the calendar year in which they paid the wages to an employee. The process for correcting those errors is confusing and often leads to further mistakes. The mechanical process for making adjustments to wages and related taxes varies depending on whether there is a correction to FICA taxes or to income tax withholding, whether the error is identified before or after the close of the calendar year of the wage payment, and whether there is an overpayment or underpayment of taxes." (American Institute of Certified Public Accountants)
Workscape's Annual Benefits Study: 2009 Results'
Excerpt: "Employees across a range of companies and industries have a newfound appreciation of benefits and organizations have been increasingly able to partner with employees to control rising health benefit costs in a number of different ways, according to the latest findings of a survey of 787 HR professionals conducted by Workscape, Inc., a leading provider of outsourced benefits and talent management solutions, and Workforce Management. [Target page requires registration to receive the survey via email.]" (Workscape)
Public and Private Sector Compensation: What is Affordable in This Recession and Beyond? (PDF)
Excerpt: "On February 26, 2009, the Federal Reserve Bank of Chicago and The Civic Federation hosted a forum to examine the differences in wages and benefits between the public sector and private sector and to discuss best practices in work force sustainability." (The Federal Reserve Bank of Chicago)
Improving Consumer Financial Literacy under the New Regulatory System
June 25, 2009. Witness List is on the target page. (U.S. House of Representatives Committee on Financial Services, Subcommittee on Financial Institutions and Consumer Credit)
Webcasts and Conferences
403(b)Plan Design ConceptsNationwide on October 15, 2009
presented by McKay Hochman Co.
403(b)Series
Nationwide on September 10, 2009
presented by McKay Hochman Co.
COBRA ARRA Compliance Webcast Archived Webcast
Nationwide on June 26, 2009
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Distributions, Hardships, Loans
Nationwide on October 1, 2009
presented by McKay Hochman Co.
Document Restatement
Nationwide on July 23, 2009
presented by McKay Hochman Co.
Fiduciary Responsibilities
Nationwide on August 27, 2009
presented by McKay Hochman Co.
How to Reduce Costs and Improve Employee Productivity with Online Enrollment Solutions - No-Cost Web Seminar
Nationwide on July 10, 2009
presented by Benefit Software Inc.
No-Cost Web Seminar Shows How You can Prepare Total Compensation Benefit Statements In-house on Your Own PC
Nationwide on July 8, 2009
presented by Benefit Software Inc.
No-cost Webinar: Discover How to Improve Employee Understanding and Appreciation for Their Employer-paid Benefits and Retain Employees
Nationwide on July 9, 2009
presented by Benefit Software Inc.
Plan Document Requirements, Employer Eligibility, Types of 403(b)s
Nationwide on September 10, 2009
presented by McKay Hochman Co.
Qualified Plan Parity, ERISA v. Non-ERISA, Plan Terminations
Nationwide on September 17, 2009
presented by McKay Hochman Co.
Retirement Income Symposium
in Illinois on October 19, 2009
presented by Summit Business Media
Transfers, Contract Exchanges, RMD Regs.
Nationwide on October 8, 2009
presented by McKay Hochman Co.
Universal Availability, Catch-up Coordination, Post-Severance Compensation
Nationwide on September 24, 2009
presented by McKay Hochman Co.
(Click to post your webcast or conference)
Press Releases
Stable Value Funds Could Carry Considerable RiskWatson Wyatt
PBGC Assumes Francisco Mendoza Inc. Pension Plan
Pension Benefit Guaranty Corporation (PBGC)
U.S. Labor Department Action Means $164,000 in 401(k) Plan Assets Will be Distributed to Workers in Mondsview, Minn.
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Council Applauds Chairman Miller for Inclusion of Defined Benefit Funding Relief Provisions in Retirement Savings Legislation, Applauds Rep. Pomeroy for Development of Comprehensive Relief Measure
American Benefits Council
CUNA Mutual Group Acquisition Doubles Retirement Business
CPI Qualified Plan Consultants, Inc.
Investment Advisor Is Certified For Fiduciary Excellence
Centre for Fiduciary Excellence (CEFEX)
Recordkeeper Is Certified To Industry Best Practices
Centre for Fiduciary Excellence (CEFEX)
EZ-GASB - The Low-Cost Alternative
Lockstone Advisors, LLC
(Click to post your press release)
Employee Benefits Jobs
Benefits Administrator - Pension Plansfor Con-way Enterprise Services (part of Con-way Inc., in Portland, Oregon)
in OR
Benefits Advisor
for Dell Inc.
in TX
(Click to post your job opening | View all jobs |
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Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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