Health & Welfare Plans Newsletter |
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| November 2, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
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[Official Guidance]
Text of Revised HHS Enforcement Regulations Implementing HITECH Act Provisions, Revised Limits on Administrative Simplification Rule Enforcement (PDF)
Excerpt: "[T]his interim final rule amends HIPAA's enforcement regulations, as they relate to the imposition of civil money penalties, to incorporate the HITECH Act's categories of violations, tiered ranges of civil money penalty amounts, and revised limitations on the Secretary's authority to impose civil money penalties for established violations of HIPAA's Administrative Simplification rules (HIPAA rules). This interim final rule does not make amendments with respect to those enforcement provisions of the HITECH Act that are not yet effective under the applicable statutory provisions. Such amendments will be subject to forthcoming rulemaking(s)." (U.S. Department of Health and Human Services)
[Guidance Overview]
HHS Issues Interim Final Rule to Conform HIPAA Enforcement Regulations to HITECH Act Penalty Revisions
Excerpt: "The enforcement is tougher and the penalties that may be imposed are potentially higher under the HITECH Act than under the prior statutory language. Now that the currently effective HITECH Act enforcement provisions are incorporated into the regulations, more aggressive enforcement of HIPAA's administrative simplification rules (including privacy and security) seems likely." (Employee Benefits Institute of America)
[Guidance Overview]
President Obama Signs Legislation Expanding Family and Medical Leave Act
Excerpt: "The Defense Department Fiscal Year 2010 legislation does not have an effective date. However, employers should presume that the new FMLA provisions are effective immediately, with the exception of the provisions relating to veteran caregiver leave, which require action by the Secretary of Labor before they become effective." (Kilpatrick Stockton)
[Guidance Overview]
Congress Adds Additional Family Military Leave Entitlements to the FMLA
Excerpt: "Because these amendments to the FMLA both extend additional benefits to the families of members of the active duty Armed Forces, and, for the first time, extend benefits to the families of seriously injured or ill veterans, employers should expect that more employees will be entitled to leave. It is anticipated that the DOL will revise its required FMLA notice and its FMLA regulations to implement these new provisions." (Littler)
[Guidance Overview]
FMLA Servicemember Leave Provisions Expanded (PDF)
4 pages. Excerpt: "[A bill that has become law] amends the Family and Medical Leave Act (FMLA) to do the following: Expand the FMLA's military caregiver leave entitlement to include veterans, who were not covered under existing law; Expand the exigency leave entitlement to include family members of the regular Armed Forces, who were not entitled to exigency leave under existing law; Extend the availability of military caregiver leave where a preexisting serious injury or illness is aggravated by active duty service" (Morgan Lewis)
[Guidance Overview]
New Law Expands FMLA Leave Rights for Employees Who Are Relatives of Veterans and Members of the Armed Forces
Excerpt: "No changes have been made to the FMLA's health benefit provisions. But these expanded leave rights for employees who are relatives of servicemembers or veterans may result in more employees taking FMLA leave, which will affect administration of group health plans. Employers subject to the FMLA should review their policies and procedures . . . ." (Employee Benefits Institute of America)
[Guidance Overview]
IRS Rapidly Begins COBRA Subsidy Audits
Excerpt: "[T]he IRS has already begun audits of employers and insurers claiming the subsidy on their 2009 Forms 941 (Employer Quarterly Federal Tax Return). The IRS information document request asks for the identity of all individuals represented on line 12b of the Form 941, each individual's request for the COBRA subsidy, and a copy of the insurance premium invoice to the employer with proof that the employee paid the premium . . . ." (Miller & Chevalier)
[Guidance Overview]
Health Risk Assessments Face Bias Hurdle
Excerpt: "Under IRS rules associated with the Genetic Information Nondiscrimination Act, employers are prohibited from collecting genetic information -- defined as family medical history -- in health risk assessments if that information will be used for 'underwriting' purposes. That includes offering employees discounts on their monthly premium contributions or lowering deductibles for completing a health risk assessment." (Workforce Management)
[Guidance Overview]
New Treasury Regulations Require Group Health Plans to Self-Report Excise Tax Liability
Excerpt: "Beginning January 1, 2010, plan sponsors (plan administrators for multiemployer plans) will need to self-report excise tax liabilities for failure to meet certain health plan requirements, including requirements under: * COBRA; * HIPAA's portability and nondiscrimination rules; * Newborns' and Mothers' Health Protection Act; * Mental Health Parity and Addiction Equity Act; * Health savings account comparability provisions; * Michelle's Law; * Genetic Information Nondiscrimination Act (GINA)" (Ballard Spahr)
Healthcare Reform To Be Largely Funded with Tax Increase on the Rich
Individuals making more than $500,000 per year and couples making more than $1,000,000 per year would pay an additional income tax of 5.4%. (Washington Post; free registration required)
House Bill Would Extend COBRA
Excerpt: "Legislation has been introduced in the U.S. House of Representatives that would extend COBRA provisions for workers who are involuntarily terminated." (PLANSPONSOR)
Mandated Purchase of Health Insurance by Individuals Alarms Some
Excerpt: "A legal challenge to the healthcare mandate may be several years away. To challenge this requirement in court, a taxpayer would have to face a penalty, and the pending legislation does not phase in the penalties until after 2013." (Los Angeles Times)
EEOC Provides Technical Guidance on Pandemic Planning in the Workplace and the Americans with Disabilities Act (PDF)
4 pages. (Buck Consultants)
[Opinion]
Small Business Is Biggest Loser in Healthcare 'Reform'
Excerpt: "[S]mall businesses would have to pay more for health insurance than they do now -- as well as comply with hefty new record-keeping requirements and audits by federal agents. The Congressional Budget Office estimates that businesses will be hit with tax penalties totaling $135 billion over six years for noncompliance with the mandate. These would surely fall disproportionately on small businesses." (Galen Institute)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]DOL Issues Additional FAQs on Schedule C for 2009 Form 5500
Excerpt: "Generally, both pension plans and those welfare plans that are required to file Form 5500 must include Schedule C to report compensation received by plan service providers. Schedule C will not be required for a welfare plan, however, unless the plan has a trust or should have a trust because Technical Release 92-01 does not apply." (Employee Benefits Institute of America)
[Guidance Overview]
Last Chance to Fix Bonus Plans and Severance/Employment Agreements
Excerpt: "For those companies who have not yet revised their bonus plans or severance/employment agreements to comply with the IRS interpretation of Internal Revenue Code (Code) section 162(m) in Rev. Rul. 2008-13, 2008-10 IRB 518, now would be the time to do that in order to avoid a deduction disallowance for the 2010 annual bonus (and for long-term bonuses with a performance period beginning January 1, 2010)." (Miller & Chevalier)
[Guidance Overview]
Federal Reserve Proposes Supervisory Initiatives Over Compensation Practices at Banks (PDF)
5 pages. (Buck Consultants)
Webcasts and Conferences
2009 IRA Year-End Statements and Reports SnapshotNationwide on November 10, 2009
presented by Convergent Retirement Plan Solutions, LLC
Capturing Employer Plan Rollovers Snapshot
Nationwide on April 6, 2010
presented by Convergent Retirement Plan Solutions, LLC
Facilitating IRA RMDs Snapshot
Nationwide on October 12, 2010
presented by Convergent Retirement Plan Solutions, LLC
Fielding Form 5498 Questions Snapshot
Nationwide on May 4, 2010
presented by Convergent Retirement Plan Solutions, LLC
IRA Beneficiary Distributions Snapshot
Nationwide on November 16, 2010
presented by Convergent Retirement Plan Solutions, LLC
IRA Excesses and Recharacterizations Snapshot
Nationwide on March 9, 2010
presented by Convergent Retirement Plan Solutions, LLC
IRA Excesses and Recharacterizations Snapshot
Nationwide on September 14, 2010
presented by Convergent Retirement Plan Solutions, LLC
IRA Funding Snapshot
Nationwide on January 19, 2010
presented by Convergent Retirement Plan Solutions, LLC
IRA Plan Establishment Snapshot
Nationwide on January 12, 2010
presented by Convergent Retirement Plan Solutions, LLC
IRA Year-End Reporting (and Then Some!) Snapshot
Nationwide on November 9, 2010
presented by Convergent Retirement Plan Solutions, LLC
Recharacterizing Conversions and Reconversions Snapshot
Nationwide on March 23, 2010
presented by Convergent Retirement Plan Solutions, LLC
Recharacterizing Conversions and Reconversions Snapshot
Nationwide on September 28, 2010
presented by Convergent Retirement Plan Solutions, LLC
RMD Update: Closing out 2009, Preparing for 2010 Snapshot
Nationwide on November 17, 2009
presented by Convergent Retirement Plan Solutions, LLC
Roth Conversion Eligibility Changes Snapshot
Nationwide on February 9, 2010
presented by Convergent Retirement Plan Solutions, LLC
Roth IRA Conversions Snapshot
Nationwide on December 8, 2009
presented by Convergent Retirement Plan Solutions, LLC
Roth IRA Conversions Snapshot
Nationwide on February 23, 2010
presented by Convergent Retirement Plan Solutions, LLC
Roth IRA Conversions Snapshot
Nationwide on August 3, 2010
presented by Convergent Retirement Plan Solutions, LLC
SIMPLE IRA Notifications Snapshot
Nationwide on August 17, 2010
presented by Convergent Retirement Plan Solutions, LLC
Webcast: Current Hot Topics and Solutions for Today's Retirement Plan Challenges
Nationwide on November 19, 2009
presented by National Institute of Pension Administrators
Webcast: Social Media and Social Networks - Why all the Fuss?
Nationwide on November 12, 2009
presented by National Institute of Pension Administrators
(Click to post your webcast or conference)
Press Releases
City Of Jacksonville Appoints Great-West Retirement Services As The Provider Of Its 457 And 401(a) PlansGreat-West Retirement Services
Council Research Report: Pension Funding Relief Critically Necessary to Preserve Jobs, Promote Economic Recovery
American Benefits Council
2010 Steven H. Sandell Grant Program
Center for Retirement Research at Boston College
2010 Dissertation Fellowship Program
Center for Retirement Research at Boston College
J.P. Morgan Funds Launches Online Target-Date Evaluation Tool
JPMorgan Chase & Co.
State Retirement Plan Administrators Reaffirm Strong Opposition to Pay-to-Play
National Association of State Retirement Administrators
Freedom One Announces GetSMART, a Fiduciary Certification for Retirement Plan Sponsors and their Investment Committees.
Freedom One Financial Group
NFN Leads the Way as National Spokesunion for Pension Reform
National Federation of Nurses
Stadion Retirement Exceeds $1 Billion in QDIA Assets
Stadion Retirement
(Click to post your press release)
Employee Benefits Jobs
Onsite Participant Counselors (4)for Diversified Investment Advisors
in FL
Benefits Administrator
for Confidential
in IA
Benefits Specialist
for Freescale Semiconductor
in TX
Investment Product Manager
for Prudential
in CT
Pension Administrator
for Primark Benefits
in CA
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