Health & Welfare Plans Newsletter |
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| December 3, 2009 \ Compliance \ Costs \ Administration \ Design \ Policy | ||
International Foundation of Employee Benefit Plans (Advert.)
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[Guidance Overview]
Labor Department Issues New COBRA Subsidy Guidance
Excerpt: "While a federal law authorizes COBRA health insurance premium subsidies to employees involuntarily terminated through Dec. 31, some employees laid off before then may not be eligible for the subsidy, the Labor Department says. . . . [E]mployees who are laid off this month [might] not being eligible for the COBRA subsidy. That could happen if employers, as it very common, allow laid-off employees to remain covered in the regular group health plan through the end of the month." (Business Insurance)
[Guidance Overview]
IRS Guidance Requires Group Health Plan Excise Tax Reporting in 2010 (PDF)
Excerpt: "Beginning in 2010, employers that fail to comply with COBRA, HIPAA and other federal group health plan mandates will have to file an excise tax return. Recent IRS guidance indicates that these taxes must be reported on Form 8928 and paid on or before the due date (without extension) of the employer's federal income tax return. The guidance also clarifies HSA comparability rules in light of 2006 law changes." (Buck Consultants)
What Do We Know About Enrollment in Consumer-Driven Health Plans?
Excerpt: "This article summarizes the literature on CDHP offer rates and enrollment. The percentage of employers offering CDHPs has gone from virtually none in 2000 to 12 percent in 2009. Based on the various sources of data on enrollment in health reimbursement arrangements (HRAs) and HSA-eligible plans, it appears that 15-19 million people were enrolled in these plans in 2009, representing 9-11 percent of the privately insured market." (Employee Benefit Research Institute (EBRI))
Wellness Incentive in Reform Bill Might Not Be Worth It
Excerpt: "Tucked inside one of the massive health care reform bills in the U.S. Senate is a provision that would raise financial incentives in corporate wellness programs based on health factors from 20% to 50% of the combined annual health insurance premium paid by the employer and employee. Proponents of the measure believe it will help wellness programs be more aggressive about controlling costs and improving outcomes, while critics dismiss the approach as a loophole for insurance companies to penalize the most vulnerable segments of society." (Employee Benefit News)
Study Finds That Taxing Cadillac Health Plans May Produce Chevy Results
Excerpt: "It's often assumed that high-cost health insurance plans -- sometimes called 'Cadillac' plans -- provide rich benefits to plan subscribers. Health reform provisions that treat these plans like luxuries may be misguided. Only 3.7 percent of variation in the cost of family coverage can be explained by benefit design (actuarial value). . . . Most variation in premiums, however, remains largely unexplained." (Health Affairs)
Study Shows Group Health Insurance Is Better Deal For Most People Than Individual Policies
Excerpt: "For most people, premiums and out-of-pocket costs were more affordable in tax-advantaged employer plans than in individual-market plans. Proposed health reforms would fundamentally alter the plan offerings available to Americans, particularly those offered in the individual market." (Health Affairs)
Mercer Says 'Cadillac Tax' Would Force Employers To Trim Health Insurance Costs
Excerpt: "Two-thirds of employers would raise deductibles, change insurers or scale back coverage to avoid the so-called Cadillac tax on high-cost benefits proposed in the Senate Democrats' health care bill, a survey to be released Thursday by consulting firm Mercer says. Among things employers might change or drop: flexible spending accounts, which are used to cover unreimbursed medical expenses, and dental or vision policies." (Kaiser Health News)
ALM (Advert.)
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Links to Items on Executive Comp, Benefits in General
[Guidance Overview]Buck Consultants Summary of Pension and Retirement Legislation in the 111th Congress (PDF)
27 pages; chart format. Updated November 8, 2009. (Buck Consultants)
[Guidance Overview]
10 ERISA Litigation Insights for Employers
Excerpt: "A recent ERISA litigation conference that featured in-house counsel, ERISA litigators and federal judges yielded important insights on how employers can protect themselves in this technical -- and potentially costly -- area of employment law. Here are the top 10 insights from one of the conference's organizers. . . . Make the most of the administrative claims appeal process . . . . Coordinate and communicate with your third-party vendors . . . . Create facts lessening the 'conflict of interest' identified in the U.S. Supreme Court case Glenn v. MetLife . . . . Prepare for the 'employer stock-drop case' . . . . Know whether you have the attorney-client privilege . . . ." (Workforce Management)
[Guidance Overview]
IRS Issues Final Regulations on ESPPs and Reporting Requirements for Statutory Stock Options (PDF)
Excerpt: "In view of the updated ESPP regulations, employers should review their existing plans to ensure that they will continue to qualify as ESPPs, and are designed to maximize opportunities for participation and tax benefits for all eligible employees. To preserve their favorable tax treatment for employees, some plans may have to be amended prior to January 1, 2010. Although employers have another year to prepare for the new reporting requirements, the release of the final regulations suggests that there may not be any further extensions." (Buck Consultants)
Links to Testimony Presented at House Hearing on 'Examining the Delphi Bankrup.tcy's Impact on Workers and Retirees'
Target page includes a recorded webcast of the hearing. Excerpt: "The Health, Employment, Labor and Pensions Subcommittee of the House Education and Labor Committee held a hearing on Wednesday, December 2 to examine how the 2005 bankrup.tcy of the automotive parts manufacturer Delphi has impacted workers and retirees." (Subcommittee on Health, Employment, Labor, and Pensions; Committee on Education and Labor; U.S. House of Representatives)
Press Releases
U.S. Labor Department Recovers Misused Funds for Profit Sharing Plan of Brockton, Massachusetts, Plumbing and Heating CompanyU.S. Department of Labor, Employee Benefits Security Administration (EBSA)
IRS Announces 2010 Standard Mileage Rates
Internal Revenue Service (IRS)
Target-Date Fund Users Holding Other Funds May Have Unintended Allocations and Risks
Employee Benefit Research Institute (EBRI)
Great-West Retirement Services Continues To Build Momentum In The Government Sector With The Addition Of The State Of New Hampshire
Great-West Retirement Services
White Horse Advisors Selected by Cbeyond to Provide 401k Advisory Services
White Horse Advisors, LLC
John Hancock Retirement Plan Services Enhances Financial Representative Website
John Hancock Retirement Plan Services
First Mercantile Adds to National Sales Team
First Mercantile
OppenheimerFunds Retirement Services Announces New Retirement Planning Resources
OppenheimerFunds, Inc.
Announcing RiversEdge Advanced Retirement Solutions
RiversEdge Advanced Retirement Solutions
(Click to post your press release)
Employee Benefits Jobs
Senior Plan Consultantfor BPAS
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DB/DC Pension Analyst
for Boyce & Associates, Inc.
in AZ
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Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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