Health & Welfare Plans Newsletter |
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| July 22, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
International Foundation of Employee Benefit Plans (Advert.)
What Rick Wellner, CEBS, says about International Foundation membership: "We became members of the Foundation because of our commitment to the Foundation’s educational content. We leverage our membership in many ways: We use the library for research, the Certificate Series for training, CEBS classes to credential our folks and E-learning courses to get our associates up and running quickly. If there is any kind of article or research in the employee benefits field, we know where to go to get it. You really need to be part of the Foundation if you’re in the employee benefit market." |
As Health Care Reform Advances, Obstacles Loom
Excerpt: "Health care reform took important steps forward in mid-July, when three of the congressional committees responsible for moving the legislation approved proposals. President Obama and lawmakers and stakeholders who support the reform efforts hailed the committee votes. Despite the progress, however, obstacles threaten to block the legislative path to reform, including escalating concern about the proposals' costs, dissent among House Democrats and the pending August recess. Lawmakers must forge consensus before any legislation can be presented for President Obama's signature.' (Watson Wyatt Worldwide)
Key Considerations in Understanding the 'Co-Op' As an Alternative to the 'Public Plan'
Excerpt: "Senator Kent Conrad recently introduced what he characterized as a compromise on the contentious issue of having a public plan under healthcare reform: a healthcare co-op. This interview with Milliman principal Jim O'Connor analyzes the co-op concept in more detail." (Milliman)
The Persistently High Out-of-Pocket Health Care Expenses Faced by Many Americans with Chronic Conditions
Excerpt: "Using data from the 2001-2005 Medical Expenditure Panel Survey, this study shows that nearly 40 percent of nonelderly adults with three or more chronic conditions had out-of-pocket expenses and premiums exceeding 5 percent of income for two consecutive years, compared with 20 percent of people who had a single chronic condition and 14 percent who had no chronic conditions." (The Commonwealth Fund)
Employers Perceive a Lack of Interest in Long-Term Care Benefit, According to Survey
Excerpt: "When small employers were asked why they do not offer long-term care insurance, two leading reasons cited were the perceived cost to implement a plan (66%) and a perceived lack of interest on the part of employees (63%). However, the same percentage of respondents to John Hancock's survey reported that their employees are concerned about the ability to fund future long-term care. According to a press release, the ability to afford long-term care for themselves or other family members was second only to that of not having enough money for a financially secure retirement (63% versus 84%)." (PLANSPONSOR.com; free registration required)
Ten Questions, and Answers, on the Basics of the Health Care Overhaul
Excerpt: "It is crunch time for health care. Lawmakers who are trying to fundamentally remake one-sixth of the U.S. economy say this might be the most complicated legislation they have undertaken. Here are some basics that everyone can grasp -- and probably ought to, because the health bill, if it passes, will affect almost everyone." (The Wall Street Journal)
Obama Administration Stays Out of San Francisco Health Spending Case
Excerpt: "The Obama administration has not joined employers in seeking a Supreme Court review of a federal appeals court ruling that upheld San Francisco's controversial health care spending law. The administration let pass the July 10 deadline for friend-of-the-court briefs to be filed in the case." (Business Insurance)
White House and Congress Ramp Up Health Reform Efforts As Committees Pass Bills
Excerpt: "With President Obama turning up the pressure for quick action on health care reform, several congressional committees have passed reform bills. The measures include employer play-or-pay and individual-coverage mandates, state-based health insurance exchanges with a public plan option, and other insurance market reforms. However, the influential Senate Finance Committee has yet to finalize its proposal, and the drive for swift action could be slowed by the Congressional Budget Office's assessment that the bills would increase, not reduce, the government's long-term health care costs." (Mercer LLC)
[Opinion]
Self-Insured Plans and Their Buddy, ERISA, Vulnerable
Excerpt: "Among the provisions for self-insured health insurance plans is one that would require health insurers and self-insured plans to pay a new annual federal tax per plan participant to fund comparative effectiveness research. The tax would be implemented in fiscal year 2013. The Department of Health and Human Services would determine the amount of the tax required to raise $375 million per year. If HHS were unable to determine the tax, it would be $2 per plan participant." (Wolters Kluwer)
[Opinion]
The Health Insurance No One Needs
Excerpt: "Everyone who wants universal health coverage (me included) finds irresistible the rallying cry that all Americans should have the same health benefits that members of Congress have. But Congress's health insurance -- that is, the heavily subsidized preferred provider plan that most members have -- is not an ideal model, because it is quite rich. As with other fee-for-service plans, it does little to encourage people to be smart health care shoppers." (The New York Times; free registration required)
University Conference Services (Advert.)
What’s Your Next Move? Managing your organization’s health and welfare plans can seem like a game of chess. You always want to be one move ahead of your "opponent"—cost increases that outpace inflation, employees who ignore the principles of good nutrition and healthy living, or regulators who impose ever more complicated rules. The Las Vegas Health and Welfare Plan Management for Mid-Sized Employers conference, September 13–16, is an unmatched educational opportunity to evaluate your health care programs and create a winning strategy for keeping costs under control. |
Links to Items on Executive Comp, Benefits in General
[Guidance Overview]SEC's Proposed Additional Proxy Disclosure Rules
Excerpt: "On July 1, 2009, the Securities and Exchange Commission (SEC) voted to propose rules that would require additional disclosure in annual reports and proxy statements regarding the relationship of a company's overall compensation policies to risk, director and nominee qualifications, company leadership structure, and the potential conflicts of interest of compensation consultants, among other things. The proposed rules were made available on July 10, 2009. The SEC is expected to act on the rules prior to the 2010 proxy season. [The target page is a summary of the proposed rules]." (Wilson Sonsini Goodrich & Rosati)
[Guidance Overview]
Proposed New Rules Governing Disclosure of Revenue Sharing and Other Compensation Arrangements Relating to Investment Company Securities (PDF)
3 pages. Excerpt: "As part of the ongoing process of developing a consolidated FINRA rulebook, FINRA has issued Regulatory Notice 09-34 requesting comment on new Rule 2341 regarding the disclosure of compensation arrangements relating to the distribution and sale of investment company securities. Proposed Rule 2341 would replace NASD Rule 2830 and, in doing so, would attempt once again to address the controversial area of revenue sharing disclosure." (Paul, Hastings, Janofsky & Walker LLP)
[Guidance Overview]
Treasury Proposes Legislation to Congress for Say-on-Pay and Compensation Committee Independence (PDF)
Excerpt: "On July 16, 2009, as part of the Investor Protection Act of 2009, the U.S. Treasury Department delivered proposed legislation to Congress that is consistent with the Obama Administration's efforts to reform corporate governance and executive compensation practices. The proposed legislation, which applies to all publicly traded companies, includes (1) a non-binding 'Say-on-Pay' vote for shareholders at each annual meeting and in connection with every change-in-control transaction, and (2) measures to tighten the standards of independence required of compensation committees." (Frederic W. Cook & Co., Inc.)
[Guidance Overview]
Requirements for Correction of 409A Operational Failures Pursuant to IRS Notice 2008-113 (PDF)
8-page overview. Excerpt: "This article outlines operational failures that may cause a failure of Section 409A and discusses whether such failures may be corrected under Notice 2008-113 and what the consequences are of the failure and its correction. First, however, there is one important Section 409A failure that cannot be corrected under Notice 2008-113, document failure . . . ." (M Benefit Solutions)
[Guidance Overview]
Abuse of Discretion Named Top Hat Dispute Standard
Excerpt: "A federal appellate court has ruled that a benefits decision by an administrator of a top hat non-qualified deferred compensation plan should be scrutinized on appeal for any potential abuse of discretion. The decision by the 9th U.S. Circuit Court of Appeals came in a dispute between the prior and current wives of a participant over who would be named by the plan as the designated surviving spouse beneficiary for Robert Sznewajs, a former U.S. Bancorp executive." (PLANSPONSOR.com; free registration required)
Protecting Non-Qualified Plan Benefits: A Supplemental Unemployment Benefits Plan Strategy
Excerpt: "For decades, employers, executives, and their counsel have grappled with the issue of protecting non-qualified plan promises. Over the last two months alone, I have blogged several times on this issue. Recently, we have been exploring the use of a Supplemental Unemployment Benefits (SUB) plan to provide a source of post-termination income on a fully-protected basis. Of course, severance benefits are not the same as other non-qualified plan benefits, but they could be structured to serve a similar purpose." (Michael Melbinger via Winston & Strawn LLP)
Proposed SEC Pay and Corporate Governance Disclosure Changes
Excerpt: "Proposed changes to SEC's disclosure rules would require new details about companies' pay and governance policies. Under the proposal, companies where a material risk/reward relationship exists would have to discuss their overall approach to employee compensation and risk management. Other changes would expand disclosures about compensation consultants, director nominees and leadership structure and require using the full grant-date fair value of equity awards in the summary and director compensation tables. Companies also would face shorter deadlines for reporting proxy vote results." (Mercer LLC)
EEOC Addresses Employment Discrimination Waivers
Excerpt: "New EEOC guidance helps employees and employers understand waivers of employment discrimination claims, which are often part of employee severance plans. The guidance spells out in Q&A format the requirements for valid waivers, including ADEA waivers; provides a checklist to aid employees deciding whether to sign waivers; and contains sample language that may be a useful starting point for employers drafting waiver agreements. The guidance responds to the recent spike in layoffs and the potential for charges of age discrimination." (Mercer LLC)
Webcasts and Conferences
Preparing for the Roth 2.0 Market - Roth IRA Fundamentals RevisitedNationwide on August 4, 2009
presented by Convergent Retirement Plan Solutions, LLC
Reducing Medicare Marketing Costs While Boosting Enrollment
Nationwide on August 12, 2009
presented by MCOL
Webinar: Investing Self-Directed Retirement Accounts into Pass-Through Entities
Nationwide on August 12, 2009
presented by Winstead PC
(Click to post your webcast or conference)
Press Releases
Segal and Sibson Communications Practices Receive Multiple AwardsThe Segal Company
Segal Announces 2009 Study of State Employee Health Benefits
The Segal Company
Gilsbar Celebrates 50 Years of Thought Leading Benefit Solutions
Gilsbar, Inc.
NBCH Releases Report on Health Plans’ Performance for Cardiovascular Disease Care and Prevention
National Business Coalition on Health
National Business Coalition on Health Announces Conference Speakers for November 8-10 Annual Conference
National Business Coalition on Health
ACI Specialty Benefits Acquires Leverage Life from O/E Learning
ACI Specialty Benefits Corporation
(Click to post your press release)
Employee Benefits Jobs
TPA Administratorfor Thesco Retirement Planning Services, LLC
in NY
Manager, Client Transition
for Prudential Financial
in CT
Financial Operations Specialist
for ExpertPlan, Inc.
in NJ
Benefits Specialist
for City of Naperville
in IL
(Click to post your job opening | View all jobs |
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EmployeeBenefitsJobs.com (Sponsor)
(Click on banner to learn more.)
| Where the best employers find the best candidates! |
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