Health & Welfare Plans Newsletter |
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| September 16, 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." |
[Guidance Overview]
The Four Things You Need to Know and Do to Comply with the New HIPAA Breach Notification Rules
Excerpt: "Special note for entities that provide personal health record services as Covered Entities: Comply with HIPAA, not the new FTC Rules. One day after the Rule takes effect, new Federal Trade Commission breach notification requirements will require personal health record (PHR) vendors and their third-party service providers to notify affected individuals of breaches. The intent of the FTC Rule is to govern entities that do not have to comply with HIPAA, such as occupational health vendors that host employee health records and vendors who sell devices that are able to upload data to a personal record. If an entity is subject to both the HHS and FTC rules, such as vendors that offer PHRs to customers of a Covered Entity as a Business Associate and also offer PHRs directly to the public, the FTC will deem compliance with certain provisions of the HIPAA breach notification rule as compliance with the FTC's Rule." (von Briesen & Roper, s.c.)
Mandated Health Insurance Squeezes Those in the Middle
Excerpt: "As lawmakers hammer out legislation aiming to extend coverage to the country's 46 million uninsured, one of the most sweeping proposals has so far stoked relatively little debate: a requirement that nearly all Americans carry health insurance, much like drivers are required to have car insurance. All of the major health bills winding through Congress feature a so-called individual mandate similar to the one in Massachusetts. Mr. Obama supported the idea in his speech to Congress last week. Such a mandate, proponents argue, is necessary to keep premiums affordable: The healthy, who are relatively cheap to cover, help pay for the sick." (The Wall Street Journal)
Average Single Premium Per Enrolled Employee for Employer-Based Health Insurance, 2008
The data can be reviewed in a table, a bar graph, or a map. (Kaiser Family Foundation)
Audio and Text: San Francisco's Universal Health Care Model
Excerpt: "The Healthy San Francisco Plan, the city's public health plan for the uninsured, has many of the elements currently under consideration in Washington, D.C. It was proposed as a stopgap measure until Congress moved ahead with universal coverage. Now, it's being heralded as a public option that works and a model for reform." (Morning Edition via National Public Radio)
Major Massachusetts Health Insurers to Boost Rates About 10%: Shift of Expenses to Workers Likely
Excerpt: "Increases will range from 7 to 12 percent, capping a decade of consecutive double-digit premium increases, according to a Globe survey of the state's top health insurers. Actual rates for 2010 will depend on the size of the employer and the type of coverage, with small businesses and individuals expected to be hit hardest. Overall, premiums are more than twice as high as they were 10 years ago." (The Boston Globe)
Many Employers to Raise Employees' Cost of Health Benefits, Survey Finds
Excerpt: "As businesses contend with rising costs, many workers face an erosion of health benefits next year, according to an annual survey released Tuesday by the Kaiser Family Foundation and the Health Research and Educational Trust. Forty percent of employers surveyed said they are likely to increase the amount their workers pay out of pocket for doctor visits. Almost as many said they are likely to raise annual deductibles and the amount workers pay for prescription drugs." (The Washington Post; free registration required)
The Disney Company and Union Workers Clash Over Health Insurance Cost-Sharing
Excerpt: "The clash pits image-conscious Walt Disney Co. against Unite Here Local 11, an aggressive union known for its street-theater militancy. . . . Local 11 says the company, which took in $4.4 billion in net income last year, has betrayed Walt Disney's family-friendly ethos by asking 2,100 employees of three hotels to pay a share of their premiums if they seek company healthcare. . . . Disney is seeking to shift the workers into its Signature plan, in which the company pays 75% of all premiums. The rest would be deducted from employees' paychecks. The plan, says Disney, more accurately reflects the healthcare cost-sharing prevalent in the workplace." (Los Angeles Times)
Incentive-Based Design Presents High-Potential Solution to Curb Employer-Provided Healthcare Benefits
Excerpt: "Long seen as the holy grail of health care, behavioral change has emerged as the key to better health and lower costs. This Perspective looks at how employers can use incentive-based health plans to promote behavioral change and improve outcomes in quality, cost efficiency and individual risks. Along with weighing whether to reward changed behaviors or outcomes, this article gives tips on setting the right incentive mix, aligning vendors with program goals, and ensuring leadership commitment and employee engagement. Examples illustrate real-life programs and the results achieved." (Mercer LLC)
[Opinion]
Health Insurance Premium Cost Increases
Excerpt: "Let's do some very simple arithmetic. Start with a fairly conservative assumption: If we assume that premium increases over the next ten years will average what they did over the last five (about 6.1% per year), the average premium for a family policy in 2019 will be $24,180. That's a big number. On the other hand, if we assume increases revert to the average of the last ten years -- an average annual increase of about 8.7% and a very plausible scenario -- premiums in 2019 will average a whopping $30,803, a very scary number . . . ." (Kaiser Family Foundation)
EmployeeBenefitsJobs.com (Advert.)
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Links to Items on Executive Comp, Benefits in General
FASB Excludes Pensions from Its Definition of Financial InstrumentsExcerpt: "The Financial Accounting Standards Board (FASB) decided at its August 19, 2009, meeting to exclude pension benefits and other postretirement benefit obligations from changes the FASB is considering to its definition of financial instruments. Specifically, the FASB has excluded 'employers' and plans' obligations for pension benefits; other postretirement benefits, including health care and life insurance benefits, postemployment benefits, and employee stock option and stock purchase plans; and other forms of deferred compensation arrangements as defined in the following . . . ." (Wolters Kluwer)
Employee Ownership Update for September 15, 2009
NCEO Executive Director Corey Rosen discusses a new wide-scale employee ownership program in Pakistan; another court decision stating that an ESOP trustee cannot be indemnified for breaches of fiduciary duty that involve an ESOP if the indemnification comes out of corporate assets; and a new survey showing a sharp increase in restricted stock plans globally. (National Center for Employee Ownership (NCEO))
[Opinion]
Comments on Proposed Amendments to Requirements for Compensation and Corporate Governance Disclosures (PDF)
16 pages. Excerpt: "On July 17, 2009, the Commission published in the Federal Register proposed amendments to its rules regarding compensation and corporate governance disclosures (the 'Proposed Rule').1 This letter sets forth the comments of Frederic W. Cook & Co., Inc. with respect to the proposed amendments. In addition, the Proposed Rule generally requested comments on what other changes in proxy disclosures would improve the disclosure process with respect to executive compensation. This letter also responds to that request." (Frederic W. Cook & Co., Inc.)
Webcasts and Conferences
"EFAST2: The Future of Form 5500" in Bostonin Massachusetts on October 22, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in Des Moines
in Iowa on October 22, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in Philadelphia
in Pennsylvania on October 22, 2009
presented by SunGard Relius
"EFAST2: The Future of Form 5500" in Washington, D.C.
in District of Columbia on October 20, 2009
presented by SunGard Relius
"ERISA Workshop" in Boston
in Massachusetts on October 23, 2009
presented by SunGard Relius
"ERISA Workshop" in Des Moines
in Iowa on October 23, 2009
presented by SunGard Relius
"ERISA Workshop" in Philadelphia
in Pennsylvania on October 23, 2009
presented by SunGard Relius
"ERISApalooza"-Full Day Retirement Industry Update with Sal Tripodi, APM
in Massachusetts on September 29, 2009
presented by ASPPA Benefits Council of New England
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Boston
in Massachusetts on October 22, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Des Moines
in Iowa on October 22, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Philadelphia
in Pennsylvania on October 22, 2009
presented by SunGard Relius
"Plan Forms, Notices, and Amendments: Streamlined, Effective, Timely" in Washington, D.C.
in District of Columbia on October 20, 2009
presented by SunGard Relius
The Changing HIPAA Landscape: What You Need to Know - And What You Should be Doing Now - About the New HIPAA Privacy and Security Rules
in District of Columbia on September 23, 2009
presented by Venable LLP
The Changing HIPAA Landscape: What You Need to Know - And What You Should be Doing Now - About the New HIPAA Privacy and Security Rules
in Maryland on October 1, 2009
presented by Venable LLP
(Click to post your webcast or conference)
Press Releases
Watson Wyatt Identifies Open Enrollment Benefit Trends for 2010Watson Wyatt
Watson Wyatt Data Services Releases 2009/2010 Financial Services - Survey Report on Insurance Industry Management Personnel Compensation
Watson Wyatt Data Services
PBGC Moves to Protect Pensions at Stant and Standard-Thomson
Pension Benefit Guaranty Corporation (PBGC)
U.S. Department of Labor Sues Owner of Defunct Florida Home Health Care Company to Obtain Restitution of Funds to Company’s Pension Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
The SPARK Institute Recommends Simple Universal 401(k) Plan For Small Plan Employers To ERISA Advisory Council
SPARK Institute
Business Roundtable Report Shows Health Care Costs Will Skyrocket to Nearly $29,000 per Employee in the Next Decade Without Effective Reform
Business Roundtable
CRC Accreditation Distinguishes Retirement Planning Professionals
International Foundation for Retirement Education (InFRE)
100 Best Sales Tips Released by Leading Retirement Plan Industry Marketing Firm
Venture (k) Corp.
Overlap Inc. Makes Major Push into Retirement Plan Marketplace
Overlap Inc.
Chestnut Global Partners and Burke Consulting Introduce Workplace Outcome Survey Tool to Measure and Validate Efficacy of EAP Services
Chestnut Global Partners
Economic Conditions Signal Long-Term Shift in Rx Benefit Approach
Medco Health Solutions, Inc.
(Click to post your press release)
Employee Benefits Jobs
Senior Pension Sales Consultantfor Executive Benefits Design Group
in ANY STATE, AK, AL, AR, DC, DE, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, MO, MS, MT, ND, NE, NM, OH, OR, SC, SD, TN, TX, VA, WV, WY
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EmployeeBenefitsJobs.com (Sponsor)
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| Where the best employers find the best candidates! |
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