Health & Welfare Plans Newsletter |
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| November 24, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
International Foundation of Employee Benefit Plans (Advert.)
DOL One-Day Compliance Programs: Electronic Filing, 2009 Forms 5500 and other DOL Updates Attend this one-day workshop where DOL representatives will provide a comprehensive walk-through of:
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[Official Guidance]
CMS Publishes Spreadsheet and Instructions for Reporting DB Pension Costs for Wage Index Purposes
Includes guidance on the effect of the Pension Protection Act's changes to ERISA. Excerpt: "The spreadsheet and guidance contained in the zip file . . . below was developed by the Office of the Actuary to assist hospitals and [fiscal intermediaries] in determining the annual allowable defined benefit pension for the FY 2011 wage index. A full explanation is contained within the PDF document . . . ." (Centers for Medicare & Medicaid Services, U.S. Department of Health & Human Services)
[Guidance Overview]
New York's Highest Court Rules in Favor of Same-S.ex Benefits
Excerpt: "In Godfrey v. Spano, Case No. 147 and Lewis v. Department of Civil Service, Case No. 148 (New York Court of Appeals. 11/19/09) (both cases decided together), the plaintiff- taxpayers had challenged two directives by executive and county officials- namely, a Policy Memorandum issued by the Commissioner of the New York State Department of Civil Service and an Executive Order issued by the Westchester County Executive-which recognized out-of-state same-s.ex marriages for purposes of providing public employee health insurance coverage and other benefits . . . . The Court dismissed these challenges, thereby upholding the provision of Coverage to partners such marriages." (ERISA Lawyer Blog)
[Guidance Overview]
New Jersey Court Dismisses ERISA Class Action Under Iqbal Standard (PDF)
Pages 1, 4 of 4 pages. Excerpt: "A putative ERISA class action filed against Horizon Blue Cross Blue Shield of New Jersey ('Horizon') claiming that Horizon violated ERISA in processing and paying out-of-network ('ONET') claims was recently dismissed by the United States District Court for the District of New Jersey. Judge Stanley R. Chesler, citing the heightened pleading standards set forth in Ashcroft v. Iqbal, 129 S.Ct. 1937, (2009) and Bell Atlantic Corp. v. Twombly, 550 U.S. 544, (2007), held that the complaint's dearth of factual substance and heavy reliance on legal conclusions could not support an action against Horizon and dismissed the case without prejudice." (Thorp Reed & Armstrong LLP)
[Guidance Overview]
The Employer Provisions of the Genetic Information Nondiscrimination Act Are Now Effective (PDF)
Excerpt: "Title II of GINA prohibits employers from engaging in three types of conduct: (i) discrimination on the basis of genetic information, (ii) the intentional gathering of genetic information about employees or applicants, and (iii) retaliation against employees who complain about a violation of any GINA provision. In addition, GINA creates new rules regarding the protection of genetic information to the extent it is obtained by employers. GINA covers employers with 15 or more employees, employment agencies, labor unions, and apprenticeship or training programs. It protects employees, job applicants, labor union members, and apprentices and trainees." (Paul, Hastings, Janofsky & Walker LLP)
Videos and a Podcast on Affordability and Health Reform: If We Mandate, Will They (and Can They) Pay?
Excerpt: "The Alliance for Health Reform and The Commonwealth Fund co-sponsored this briefing to explore the health reform proposals being considered which may impose responsibilities on both individuals and employers to have and help pay for coverage and whether they will be able to pay the amounts above the subsidies. Questions addressed include: If Congress exempts people from the coverage requirement or significantly reduces the penalties for noncompliance, will enough healthy individuals purchase new coverage to adequately spread risk? How generous will subsidies in the final reform package be? What costs -- both premiums and out-of-pocket -- will individuals and families face? How will small employers be able to afford coverage for their employees?" (Kaiser Family Foundation)
The Crisis in State and Local Government Retiree Health Benefit Plans: Myths and Realities
Excerpt: "States with the lowest unfunded liabilities include North Dakota, Wyoming, Iowa, Oregon, Rhode Island, and Oklahoma; states with the largest include New Jersey, New York, California, North Carolina, Connecticut, Louisiana, and Texas. The brief finds that: Although there are wide-spread reports of a major fiscal crisis, the reality is that some states face a fiscal crisis while others do not. There are substantial differences in the total liabilities of state retiree health plans, depending on the generosity of the plan and the size of the public sector. Retirement benefits are not protected by state laws or constitutions, and public sector employers will continue to amend their plans to reduce costs." (Center for State and Local Government Excellence)
Can Congress Force You to Buy Insurance?
Excerpt: "As part of health reform, Democrats want to require all Americans to purchase insurance or face a fine. But conservatives, led by Utah Sen. Orrin Hatch, say Congress has no constitutional authority to tell people what to buy with their money. 'If we have the power simply to order Americans to buy certain products, why did we need a Cash for Clunkers program?' Hatch said during a debate in the Senate Finance Committee. 'We can simply require Americans to buy certain cars.' Democrats brush aside these arguments and say the proposal is not only good policy, but also is well within Congress's established powers. However, nonpartisan researchers are not as confident." (The Salt Lake Tribune)
Mental and Physical Health Conditions Get Equal Out-of-Network Coverage in Federal Employee Plans
Excerpt: "Enrollees in the Federal Employees Health Benefits Program finally will have their mental health care covered at the same level as all other medical conditions, thanks to changes enforced by the Office of Personnel Management. Mental and physical health benefits have been at parity for in-network care since the Clinton administration, but patients seeking treatment with out-of-network providers had higher co-pays and were allowed limited visits. The 2008 Mental Health Parity Act, which takes effect in January 2010, strengthened a 1996 law by eliminating the disparity between out-of-network mental and physical health coverage." (GovernmentExecutive.com)
[Opinion]
Health Debate Overlooks Wellness Programs
Excerpt: "Despite Americans' poor lifestyle choices and the chronic problems they spawn, health care reform legislation that Congress is considering would do little to encourage people to live healthy lives, according to . . . experts. Advocates say Congress is missing an opportunity to expand medicine's focus beyond the diagnosis and treatment of illness." (CourierPostOnline.com/Courier-Post)
ALM (Advert.)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]New IRS Final Rules on Employee Stock Plans: New Reporting Requirements for ESPPs and ISOs to Begin in 2010
Excerpt: "The new reporting rules apply to an ESPP only if the purchase price is set at a discount from the fair market value of the stock. In addition, the reporting requirement does not apply to the year in which the stock is transferred from the company to the employee, but when the stock is transferred from the employee to a third party. In recognition of the fact that most companies no longer issue certificates to employees who purchase stock through an ESPP, the final regulations provide that the stock will be considered to have been transferred by the employee when the stock is deposited into a brokerage account for the employee's benefit. However, if the company does still issue certificates -- either automatically or upon the employee's request -- the company will need to have its transfer agent monitor when the employee transfers the stock." (Seyfarth Shaw LLP)
[Guidance Overview]
New Final ESPP Regulations
Excerpt: "As they promised at NASPP Conference, the IRS and Treasury Department issued final regulations governing Employee Stock Purchase Plans under Code Sec. 423 last week (as if we did not already have enough to do by the end of 2009). Many companies recognize the ESPP as a low-cost opportunity to incentive employees, on a tax-favored basis, by selling them company stock at a slight discount. The good news is that the final regulations made no dramatic changes. However, the Regs do make a few important clarifications (and reject one widely-sought change). The following key issues bear special mention: Determining the Grant Date; Application of the $25,000 limitation; Coverage of Non-US employees; Shareholder Approval." (Michael Melbinger via Winston & Strawn LLP)
SEC Official Warns of Crackdown on Executive Pay Disclosure
Excerpt: "Companies with material deficiencies in next year's executive pay disclosures can expect SEC to require amended filings, a deputy director of the SEC's Division of Corporation Finance said Nov. 9. Because annual meeting dates will have passed, companies probably won't need to amend deficient proxy statements but could have to file amended Forms 10-K, which could interfere with using simplified registration statements for shelf offerings and employee benefit plans. SEC staff plan to continue scrutinizing the analysis and performance targets in disclosures." (Mercer LLC)
[Opinion]
Request for Clarification of Proposed Regulations Governing the Performance of Actuarial Services Under ERISA (PDF)
Excerpt: "The Academy's Pension Committee comments to the Joint Board in response to proposed regulations governing the performance of actuarial services under the Employee Retirement Income Security Act of 1974 (ERISA)." (American Academy of Actuaries)
Webcasts and Conferences
Impact of Final 403(b) Regulations and Preparing for 2010 Auditsin California on December 2, 2009
presented by No. Calif. Chapter of Certified Employee Benefits Specialists (ISCEBS)
Los Angeles Benefits Conference
in California on January 20, 2010
presented by American Society of Pension Professionals & Actuaries (ASPPA)
NTSAA National Conference
in California on January 27, 2010
presented by National Tax Sheltered Accounts Association
The ASPPA 401(k) SUMMIT
in Florida on March 14, 2010
presented by American Society of Pension Professionals & Actuaries (ASPPA)
Year-End Program - Wrapping up 2009 and Ramping Up for 2010
in California on December 3, 2009
presented by No. Calif. Chapter of Certified Employee Benefits Specialists (ISCEBS)
(Click to post your webcast or conference)
Press Releases
Fiduciary Benchmarks Launches Retirement Readiness Index (RRI) For 21,000 PlansFiduciary Benchmarks, Inc.
Employers Forced to Drop Insurance for Employees Find New Benefit in HCPR
BASE
(Click to post your press release)
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