Flexible Spending Accounts May Change Under Health Care Reform Excerpt: "One issue in the health care reform debate could involve a proposal to cap flexible spending accounts -- pre-tax funds that employees can use to cover certain out-of-pocket medical expenses -- which many federal workers use. The House version of the health care reform legislation (H.R. 3200) currently includes an amendment that would limit the scope of FSAs by prohibiting employees from using them to pay for over-the-counter medicines -- a move that the Joint Committee on Taxation estimated would save the government $8.2 billion over 10 years." (GovernmentExecutive.com) OPM Proposes New Federal Employee Leave Policies for Pandemics and Family Care Excerpt: "The Office of Personnel Management proposed regulations on Wednesday that would make it easier for federal employees to take time off to care for family members who have been exposed to dangerous communicable diseases or wounded in combat. 'It's a very generous federal benefit, and it's one that makes us a model employer,' Jerome Mikowicz, deputy associate director of the Center for Pay and Leave Administration at OPM, said of the communicable disease benefit. Currently, federal employees can use sick leave to care for a family member who health authorities have barred from work because of a communicable illness that could endanger other people at their workplace." (GovernmentExecutive.com) Government Agencies Issue Fresh Flu Pandemic Guidance Excerpt: "Two federal agencies have issued fresh guidance about what employers can do if there is a serious influenza outbreak. The U.S. Department of Health and Human Services and the Centers for Disease Control and Prevention issued guidelines employers can follow to build a preparedness and action plan in a flu outbreak. However, experts say fear of a pandemic may have waned and employers may have slipped into a false sense of security. Experts also note the H1N1 influenza virus could wreak havoc on employers if they're not prepared." (Workforce Management; free registration required) New Research Finds Congressional Budget Office Has Underestimated Savings and Overestimated Costs from Health Policy Changes Excerpt: "Over the last 30 years, the Congressional Budget Office (CBO), which assesses the costs of health reform and other legislation as it moves through Congress and is widely respected for its competence and integrity, has underestimated the amount of savings and overestimated the costs that major changes in the health care system would bring, says Jon Gabel in an op-ed published in [the August 26, 2009] New York Times." (The Commonwealth Fund) Audio: Countering Common Perceptions, Study Shows Health Plan Administration Costs Are Low Excerpt: "Sherlock Company's Doug Sherlock shares the results of its recent report showing that benefit administration costs average 9% of premiums across all policies. Listen in as Sherlock discuses how prior estimates -- often two or three times higher and frequently quoted by public-plan advocates -- could be so disparate." (Employee Benefit Adviser; free registration required) Walgreens and Caterpillar Make Pharmacy Benefit Deal Excerpt: "A program by drugstore chain Walgreens offered to employers featuring prescription drug benefits in their health care program includes a price list reflecting the cost Walgreens pays the drug supplier. A Walgreens news release said Caterpillar Inc. had signed up for the drug pricing program." (PLANSPONSOR.com; free registration required) Americans Underestimating Health Costs in Retirement Excerpt: "Americans are expressing concern about paying for medical costs during retirement - and dramatically underestimating the financial burden they'll be expected to bear, a new survey indicates. According to a press release, the July survey of the First Command Financial Behaviors Index reveals that 72% of Americans are at least somewhat concerned about health care costs in retirement, with those closest to retirement expressing the most concern. Respondents predict that they will need about $33,000 above traditional retirement savings to cover health care costs during retirement - only a fraction of the $166,000 in out-of-pocket expenses estimated for someone retiring today and living to age 100." (PLANSPONSOR.com; free registration required) Video: The Co-Pay Connection Excerpt: "Our Co-Editor-in-Chief, A. Mark Fendrick, MD, explains the concept of 'value-based insurance design' and discusses the implications of reducing co-pays for employers and insurers." (The American Journal of Managed Care) [Opinion] Congress's Health Care Numbers Don't Add Up Excerpt: "FOR competence and integrity, few organizations command more respect in Washington than the nonpartisan Congressional Budget Office. As health care reform makes its way through Congress, the budget office's assessment of how much various elements might cost may determine the details of legislation, and whether it ultimately passes. But when it comes to forecasting the costs of reform, the budget office's record is suspect. In each of the past three decades, when assessing major changes in Medicare, it has substantially underestimated the savings the changes would bring." (The New York Times; free registration required) [Opinion] Health Savings Accounts Could Lead to Real Health Care Reform Excerpt: "ObamaCare would almost surely kill off consumer-driven plans that reward patients for smart shopping. That's a pity, because there are signs that the plans may actually be starting to cut costs." (Investor's Business Daily)
Links to Items on Executive Comp, Benefits in GeneralCalifornia Court Challenge to Defense of Marriage Act Dismissed on TechnicalityExcerpt: "A federal judge on Monday dismissed on a technicality a challenge filed by a California couple to the so-called 'Defense of Marriage Act' (DOMA). DOMA bars the federal government from treating same-s.ex marriages as legal or granting federal benefits to same-s.ex spouses. The case became notorious earlier this year when the Obama administration filed a brief defending DOMA. In that first brief, the DOJ used anti-g.ay arguments that one LGBT advocate described as 'malicious and outrageous'. After the flurry of criticism of its initial brief, DOJ filed a second brief last week in which it said, 'This administration does not support DOMA as a matter of policy, believes that it is discriminatory, and supports its repeal.'" (lgbtQnews) Webcasts and ConferencesAn Ownership TaleNationwide on September 9, 2009 presented by National Center for Employee Ownership Effective Boards of Directors: Best Practices in Governing an ESOP Company in California on October 26, 2009 presented by National Center for Employee Ownership Employee Benefits for Domestic Partners: Design, Taxation, and Administration Nationwide on September 24, 2009 presented by EBIA / Thomson Reuters Fiduciary Issues for Internal ESOP Trustees in Georgia on October 27, 2009 presented by National Center for Employee Ownership Fiduciary360 Hosts Free Webinar on Converging Worlds of Brokers and Advisors as Fiduciaries Under Regulatory Reform Nationwide on September 3, 2009 presented by Fiduciary360 (fi360) Get the Most Out of Your ESOP in Pennsylvania on November 2, 2009 presented by National Center for Employee Ownership Investment Advisers: The Changing Regulatory Landscape Webcast Nationwide on September 21, 2009 presented by ALI-ABA (American Law Institute-American Bar Association) (Click to post your webcast or conference) Press ReleasesU.S. Department of Labor Sues Defunct Atlanta-based Mortgage Loan Company to Protect Participants’ 401(k) AssetsU.S. Department of Labor, Employee Benefits Security Administration (EBSA) Pension Rights Center Mourns the Death of Senator Edward M. Kennedy Pension Rights Center MTS Allocations, LLC Has Launched an Asset Allocation Newsletter Service for 401k Investors MTS Allocations, LLC Law Firm Greensfelder Adds Janich to Chicago Employee Benefits Practice Casey Communications, Inc. New White Paper from Summit Health Helps Employers Choose the Right On-Site Wellness Provider Summit Health, Inc. (Click to post your press release) Employee Benefits JobsDC / 401(k) Compliance Consultantfor The Savitz Organization in DE, NJ, PA Senior Director (Health Care Quality & Cost Management) for 1199SEIU Family of Funds in NY Relationship Manager 1 for Wachovia/Wells Fargo in NC Project Manager for ftwilliam.com in WI Benefits Analyst II for Milliman in WA ERISA Attorney for Gordon, Feinblatt in MD Research & Communications Specialist for Northwestern Benefit Corporation of Georgia in GA Manager, Compliance Testing and Reporting for Prudential Financial in IA (Click to post your job opening | View all jobs | RSS feed of all jobs ) EmployeeBenefitsJobs.com (Sponsor) (Click on banner to learn more.)
Handy Links:
Subscribe to the BenefitsLink Retirement Plans Newsletter, Too! Sign-up form is at https://benefitslink.com/newsletter (free). This email has been published by:
David Rhett Baker, J.D., Editor Copyright 2009 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission. Anyone can receive these emails; just have them sign up at this web page: https://benefitslink.com/newsletter/ Other useful links: |