Health & Welfare Plans Newsletter |
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| August 24, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
International Foundation of Employee Benefit Plans (Advert.)
What you need to know: New HHS Regs Webcast All plan sponsors and business associates must comply with the HHS interim regs announced on August 20. The new rules impact the safeguarding of health records under HIPAA and specifically address breach notification regulations. Learn what you need to do now with Thursday’s webcast, Final Regulations (and Penalties) Related to HIPAA Security Breaches. |
[Official Guidance]
Interim Final Regs: Breach Notification for Unsecured Protected Health Information (PDF)
32 pages. Excerpt: "[T]he [HITECH] Act requires HHS to issue interim final regulations within 180 days to require covered entities under [HIPAA] and their business associates to provide notification in the case of breaches of unsecured protected health information. For purposes of determining what information is 'unsecured protected health information,' in this document HHS is also issuing an update to its guidance specifying the technologies and methodologies that render protected health information unusable, unreadable, or indecipherable to unauthorized individuals." (U.S. Department of Health and Human Services)
[Guidance Overview]
MSP Rules Prohibit Terminating Group Health Plan Coverage Based Solely on ESRD Eligibility, Except as Permitted by COBRA
Excerpt: "EBIA Comment: This case reminds us that the rules regarding Medicare eligibility and entitlement (including those for ESRD) are detailed and complex. It highlights that the rule prohibiting termination of group health plan coverage because of ESRD Medicare eligibility or entitlement does not prohibit termination of COBRA when termination of such coverage is expressly permitted (e.g., upon entitlement to Medicare)." (Employee Benefits Institute of America)
[Guidance Overview]
HHS and FTC Final Rules on Health Information Breach Notification Requirements
Excerpt: "EBIA Comment: The breach notification implementation guidance has been widely anticipated by HIPAA-covered entities, business associates, and certain noncovered entities. These provisions, enacted under ARRA, provide very tight timeframes for compliance which are reflected in the quick effective dates of both the HHS and FTC rules. However, the approach announced by both agencies to use their discretion in not immediately enforcing the new requirements should provide some short-term relief as entities gear up for compliance. Affected entities should take immediate steps to determine to what extent they can meet the safe harbor guidance for securing PHI." (Employee Benefits Institute of America)
[Guidance Overview]
Remedy Provided by Pennsylvania Revocation on Divorce Statute not Preempted by ERISA
Excerpt: "The Superior Court of Pennsylvania recently held that the remedy provided by revocation on divorce statute is not preempted by ERISA. The decedent and his wife in the case had divorced. The decedent never changed the designation of his ex-wife as the beneficiary of a life insurance policy ,which was part of an employee benefit plan subject to ERISA. After the insurance company paid the ex-spouse, the administrator of the decedent's estate brought a proceeding to require the ex-spouse to turn over the proceeds to the contingent beneficiary under the policy. " (Wills, Trusts and Estates Prof Blog)
Insurers Seek Savings by Offering Coverage for Care in Other Countries
Excerpt: "More insurers are offering networks of doctors overseas and in other countries for their policyholders as a way to save money as lawmakers struggle with how to drive down costs, The Associated Press/USA Today reports." (Kaiser Family Foundation)
House Panel Asks Health Insurers for Executive Pay Details and Other Financials
Excerpt: "A House committee with jurisdiction over health care reform legislation has sent letters to more than 50 major commercial health insurers asking them to identify by name each executive who earned at least $500,000 a year in any year from 2003 to 2008. The letter, signed by Rep. Henry Waxman, D-California, chairman of the House Energy and Commerce Committee, and several other Democratic panel members, asks for salary information for those individuals, as well as bonuses and the fair value of stock and option awards, among other things. The letter also requests premium payments, claims payments, sales expenses, administrative expenses and profits for 2005 to 2008." (Workforce Management; free registration required)
[Opinion]
A Public Option That Works in San Francisco
Excerpt: "TWO burning questions are at the center of America's health care debate. First, should employers be required to pay for their employees' health insurance? And second, should there be a 'public option' that competes with private insurance? Answers might be found in San Francisco, where ambitious health care legislation went into effect early last year. San Francisco and Massachusetts now offer the only near-universal health care programs in the United States. The early results are in. Today, almost all residents in the city have affordable access to a comprehensive health care delivery system through the Healthy San Francisco program." (The New York Times; free registration required)
ALM (Advert.)
Complete Benefits Law Guidance from Law Journal Press The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field. Get legal and practical advice from leading experts on everything from COBRA to ERISA, "contingent" employees to family and medical leave, and more. Browse our product listings for detailed information and special offers. |
Links to Items on Executive Comp, Benefits in General
[Guidance Overview]Proposed Amendments to SEC Compensation and Corporate Governance Disclosures
Excerpt: "Comments may be submitted to the Securities and Exchange Commission on or before September 15, 2009 with respect to the Commission's proposed amendments to its rules, to further enhance compensation and corporate governance disclosures." (Bond, Schoeneck & King, PLLC)
More Employers Seeking Labor Department Approval to Fund Benefits Through Captives
Excerpt: "Midland, Mich.-based Dow Coring Corp., a joint venture of Dow Chemical Corp. and Corning Inc. and a manufacturer and supplier of silicone-based chemicals, wants to use its Devonshire Underwriters Ltd. captive to fund life and long-term disability benefits. Dow Corning uses Devonshire to fund a variety of risks, including workers compensation, automobile liability and general liability risks." (Business Insurance)
Moving from Financial Planning to Financial Life Planning (PDF)
10 pages. Excerpt: "Financial life planning is one of the labels used to describe a more integrated and humanistic approach that has emerged over the past decade to address personal financial issues. It signals an evolution of planners from product vendors to trusted advisors who recognize that individuals do not behave rationally regarding decisions involving money, but are instead emotional, conflicted and inconsistent. In addition, they have unique dreams, beliefs, values and challenges. Financial life planners help individuals focus on their values and motivations, determine the goals and objectives they have, and then use these values, motivations, goals and objectives to guide the planning process and provide a framework for making decisions that have financial and non-financial implications. Financial life planning is a holistic process that applies traditional financial analysis within a framework of the individual's life and total resources." (TIAA-CREF Institute)
Detroit Mayor Targets Detroit City Workers' Perks
Excerpt: "As Mayor Dave Bing and city unions wage a high-stakes stare-down over pay cuts, administration officials are also taking aim at employee benefits they say have grown archaic and costly. Most workers get 17 sick days a year, a paid lunch hour, can keep children on their health insurance until age 25, draw a Christmas bonus of as much as $750 and have Viagra picked up by the city's prescription plan. And time off? The average staffer with 15 years on the job can take up to 42 days off a year for vacations, holidays and a host of other paid absences." (The Detroit News)
Webcasts and Conferences
"Cash Balance Plans for Defined Contribution Practitioners" - A 3-part Web SeminarNationwide on September 16, 2009
presented by SunGard Relius
"Testing 403(b) Plans in 2009" - A 2-part Web Seminar
Nationwide on September 24, 2009
presented by SunGard Relius
401(k) Plan Current Developments -- Archived Program
Nationwide on August 21, 2009
presented by SunGard Relius
403(b) Plans for 401(k) Practitioners - A Three-Part Web Seminar -- Archived Program
Nationwide on August 21, 2009
presented by SunGard Relius
Experience with PPA Benefit Restrictions
in Illinois on September 2, 2009
presented by ASPPA Benefits Council of Chicago
(Click to post your webcast or conference)
Press Releases
PBGC Negotiates Deal to Strengthen Pension Funding at Western UnionPension Benefit Guaranty Corporation (PBGC)
Fiduciary360's Blog Launches on InvestmentNews.com
Fiduciary360 (fi360)
McGraw Wentworth Growth Recognized - Named For Third Consecutive Year to Inc. 5000
McGraw Wentworth
Florida Retirement Plan Veteran Restructures Consulting Practice
Montgomery Retirement Plan Advisors, Inc.
Confusion About Financial Planning Designations Leads to New Website
The American College
Security Mutual Life Insurance Company of New York Releases New Retirement Plan Guide for Qualified Plan Advisors
Security Mutual Life Insurance Company
(Click to post your press release)
Employee Benefits Jobs
Retirement Plan Consultant and Plan Administratorfor Oklahoma City Third Party Administration Firm
in OK
(Click to post your job opening | View all jobs |
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EmployeeBenefitsJobs.com (Sponsor)
(Click on banner to learn more.)
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