Health & Welfare Plans Newsletter |
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| August 3, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
Employee Benefits Institute of America (EBIA) (Advert.)
EBIA's Recorded Web Seminars - Quality and Convenience! We know that employee benefits professionals have many demands on their time. To help ease the time-crunch, EBIA's recorded web seminars are available 24/7--any time and any place you have an internet connection. What's more, when you purchase a recorded web seminar from EBIA, you and your co-workers can view it as many times as you wish for 60 days after purchase! Visit our website and you can search for seminars by topic, experience level, or key word. |
[Guidance Overview]
FTC Red Flags Rule Enforcement Date Delayed Again until November 1, 2009 (PDF)
2 pages. Excerpt: "Health care providers covered under the Rule should note that the November 1, 2009, compliance date is a moratorium, not a change in regulatory interpretation of the Red Flags Rule. While this FTC announcement gives institutions more time to review the guidance and develop written identity theft programs, covered health care providers are still expected to comply with the Rule by the new enforcement date." (Alston & Bird LLP)
[Guidance Overview]
Appeals Court Confirms That CEO Was Not Required to Take Additional Action on Plan Losses
Excerpt: "EBIA Comment: The steps that an ERISA fiduciary must take to discharge its duty to collect contributions from a delinquent employer depend upon the particular facts and circumstances. In the DOL's view, in determining what collection actions to take, a fiduciary must weigh the value of the plan assets involved, the likelihood of a successful recovery, and the expenses expected to be incurred. A plan trustee may take into account the employer's solvency in deciding whether to expend plan assets to pursue a claim. While trustees must consider their collection options, they may not be obligated to pursue those options if, as the trial court determined in this case, those options would make the situation worse." (Employee Benefits Institute of America)
N.Y. States Doubles COBRA Coverage to 36 Months; Unmarried Children Can Be Covered to Age 29
Excerpt: "New Yorkers who lose their jobs will now be able to continue to get lower cost health care coverage for twice as long under a new law. Gov. David Paterson said the bill he signed Wednesday will make health care more affordable and accessible through several changes. It will give people 36 months to use COBRA after losing their jobs. COBRA allows people who have lost their jobs to continue with the same insurance plan they had under an employer. It's less than half the cost of insurance on the open market." (AP via CNHI)
Marijuana Reimbursement Claims Highlight How Pot Could Pay for Employers
Excerpt: "In mid-June, Rhode Island became the third state to legalize the sale of marijuana for medical use, giving momentum to advocates who believe the legalization of the drug offers a dose of sanity for the nation's costly health care system. Now that more states are legalizing the sale of the marijuana used solely as a medicine, the next hurdle for reformers who say the drug is more cost-effective than pharma.ceuticals is getting those who pay for health care -- insurers and employers -- to reimburse patients for its use." (Workforce Management; free registration required)
[Opinion]
Only Health Care Consumers Can Bend the Cost Curve (PDF)
2 pages. Excerpt: "President Obama says that we must lower health care costs, and Budget Director Peter Orszag argues we can 'bend the curve' of health care spending and save $700 billion a year by cutting out waste and unnecessary care. But the methods Orszag and others recommended are unproven, and some have been shown to cost more money than they save. Worse yet, these 'experts' are doing their best to kill the only approach that has been proven to work: consumer driven health care." (Council for Affordable Health Insurance)
EmployeeBenefitsJobs.com (Advert.)
EmployeeBenefitsJobs.com is where the best employers find the best candidates!
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]FTC Confirmation That Red Flag Rules Will Not Apply to Certain 401(k) Plans and Health FSAs, but Review of Identity Theft Prevention Measures Is Still Advisable (PDF)
2 pages. Excerpt: "Regardless of the FTC's determinations, it is important to remember that plan fiduciaries have a general duty under ERISA to protect participant information. The identity theft program required under the Red Flag Rules can serve as a helpful starting point for plan sponsors in developing or updating procedures for protecting participants from identity theft. The FTC has developed an online tool to help covered entities design an identity theft program to meet their specific needs (http://www.ftc. gov/bcp/edu/microsites/redflagsrule/get-started.shtm)." (Venable LLP)
[Guidance Overview]
EEOC's New Guidance on Severance Agreements
Excerpt: "This policy document is not an EEOC regulation or even an enforcement guidance, but it summarizes, from the EEOC's perspective, existing legal requirements for severance agreements under the Americans with Disabilities Act (ADA), Title VII, the Equal Pay Act (EPA), and, in particular, the Age Discrimination in Employment Act (ADEA). The publication does not appear to be intended to change existing regulations, but employers should anticipate that the EEOC will refer to the document when investigating charges or pursuing lawsuits that involve releases." (Littler Mendelson P.C.)
[Guidance Overview]
Second Circuit Warns Plan Administrators Making Disability Determinations
Excerpt: "Disability determinations can occur in all types of benefit plans, including qualified retirement plans, and therefore the significance of the case should be analyzed for its impact on other types of ERISA plans as well." (ERISA Fiduciary Guidebook)
[Guidance Overview]
FTC Delay of Enforcement of Red Flags Rule Until November and FAQs Addressing Employee Benefit Plans
Excerpt: "EBIA Comment: The enforcement delay is welcome news and the FAQs provide some helpful clarification for health FSAs and 401(k) plans. Unfortunately, some issues for employee benefit plans remain unanswered. For example, for those offering health FSA debit cards, it is unclear who is responsible for implementing the Rule -- the plan sponsor, the TPA, or another entity involved in the card program. Further clarification would also be helpful about the Rule's application to other benefits, such as DCAPs, HRAs, and HSAs." (Employee Benefits Institute of America)
Full House of Representatives Passes Barney Frank's Bill on Executive Compensation
Excerpt: "The only amendment would strike language in Section 2(b) which would have prohibited the government from clawing backs executive compensation that had been approved by shareholders. In its place, the final bill passed by the House inserts language that would prohibit rules from allowing financial regulators to require recovery of incentive-based pay under arrangements in effect on the date of enactment." (Michael Melbinger via Winston & Strawn LLP)
Making the Best of Your Severance Package
Excerpt: "The intricacies linked with parting packages vary from the financially significant (CEOs have sued former firms for hefty unpaid bonuses) to the more common (laid-off friends and family berate themselves for not asking for more money, a reference -- or even that e-mail contact list -- before signing off on a termination agreement). Like estate planning, severance is a topic few want to think about. But layoffs and buyouts abound these days, so it's vitally important to devise severance-talk tactics." (USA Today)
Webcasts and Conferences
Atlanta Wellness Fairin Georgia on August 20, 2009
presented by WEB (Worldwide Employee Benefit Network) Atlanta Chapter
Retiree Healthcare Congress
in Florida on October 29, 2009
presented by Global Media Dynamics
SPARK Accredited Retirement Plan Consultant (ARPC) Training and Designation Program
in California on October 8, 2009
presented by SPARK -- Society of Professional Asset-Managers and Record Keepers
(Click to post your webcast or conference)
Press Releases
U.S. Department of Labor Obtains Agreement with Former Fiduciary of SCT Yarns to Restore Assets to Pension PlansU.S. Department of Labor, Employee Benefits Security Administration (EBSA)
NCQA Annual Report Highlights Workplace Wellness and Health Promotion
National Committee for Quality Assurance (NCQA)
WellPoint, BCBSA, Blue Cross Blue Shield of Florida and HCSC Collaborate to Expand Access to Health Care Cost Information
Blue Cross and Blue Shield Association
(Click to post your press release)
Employee Benefits Jobs
Pension Administratorfor Qualified Pension Services, Inc.
in MO
Employee Benefits Program Manager
for Blue Cross and Blue Shield of North Carolina
in NC
Retirement Plan Specialist
for New York Life Retirement Plan Services
in MA
(Click to post your job opening | View all jobs |
RSS feed of all jobs )
EmployeeBenefitsJobs.com (Sponsor)
(Click on banner to learn more.)
| Where the best employers find the best candidates! |
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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