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Health & Welfare Plans Newsletter
December 21, 2009 
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[Official Guidance]
Text of Final Version of H.R. 3326 Extending COBRA Subsidy, Signed by President
Click on the link on the target web page that is entitled '(Enrolled as Agreed to or Passed by Both House and Senate) [H.R.3326.ENR].' Once the table of contents is displayed, click on 'Division B -- Other Matters." (THOMAS, U.S. Library of Congress)
[Guidance Overview]
President Signs Bill Extending COBRA Subsidy
Excerpt: "The bill [extends] the nine-month, 65 percent premium federal subsidy by six months. The change [applies] to those who are involuntarily terminated through February 28, 2010. Under current law, employees who lose their jobs after December 31 are ineligible for the subsidy. The legislation [provides] another six months of subsidized coverage for beneficiaries whose nine-month COBRA premium subsidy has run out. In addition, the legislation [gives] beneficiaries whose subsidy expired and who didn't pay the full premium the opportunity to receive retroactive coverage." (Workforce Management)
[Guidance Overview]
Text of EBSA Press Release Announcing Extension of COBRA Subsidy
Excerpt: " The act extends the eligibility period for the ARRA premium reduction for an additional two months (through Feb. 28, 2010) and the maximum period for receiving the subsidy for an additional six months (from nine to 15 months). . . . Individuals who had reached the end of the reduced premium period before the legislation extended it to 15 months will have additional time to pay the reduced premiums related to the extension. To continue their coverage they must pay the 35% of premium costs by (60 days after date of enactment) or, if later, 30 days after notice of the extension is provided by their plan administrator." (Employee Benefits Security Administration, U.S. Department of Labor)
[Guidance Overview]
IRS Delay of Effective Date of Electronic Payment Card Guidance for Transit Expenses Until 2011
Excerpt: "EBIA Comment: This delayed effective date is good news for third party administrators and employers offering qualified transportation fringe benefit plans where local transit systems are still not in compliance with the technological requirements for vouchers (presumably, the need for single-purpose cards or cards with separate 'purses' for transit versus parking expenses). But in the absence of clear guidance from the IRS on the effect of using noncompliant cards before January 1, 2011, cautious employers with noncompliant cards should change to a compliant alternative, if one is available." (Employee Benefits Institute of America)
House Passes Legislation on Health Reimbursement Arrangements
Excerpt: "Legislation that will provide tax parity to non-spouse/non-dependent individuals who qualify for and receive employer-provided health plan benefits passed in the House [in November]." (ICMA-RC)
Health Risk Appraisals: How Effective Is This Tool in Shaping Employee Behavior? (PDF)
3 pages. Excerpt: "[Examined was] whether enrollees in employer-sponsored health insurance who voluntarily participated in HRAs differed in regard to demographic characteristics and utilization of health services from those who chose not to participate and those not offered an HRA. The researchers found that though HRAs have been shown to increase use of medical services, they are unlikely the sole solution to engaging consumers in their health." (Changes in Health Care Financing & Organization)
The Health Care Reform Update as of December 18, 2009
Excerpt: "The [side-by-side comparison linked from the target page] summarizes key provisions of these two bills in the areas of insurance market reform, the individual and employer mandates, the Exchange provisions, the public plan options, and tax 'revenue raisers.' The . . . 'Key Terms' chart provides definitions for commonly-used terms in both bills." (Groom Law Group)
The Economic Case for Health Care Reform: Update December 14, 2009 (PDF)
14 pages. Excerpt: "This report presents new estimates that the Congressional proposals will reduce the growth of health care costs for individuals, businesses, and the government, and reviews the economic case for health care reform. Some of the many benefits discussed below include higher standards of living for workers, more private sector job creation, and lower government budget deficits." (Executive Office of the President, Council of Economic Advisers)
[Opinion]
Hawaiians Are Healthy, Despite Their Employers
Excerpt: "With Hawaii as an example, the healthcare picture becomes fuzzier when it comes to employer wellness initiatives. That state's workers are among the healthiest in the nation, but their satisfaction with work is dead last. So, what are some of the lessons that can be learned from the Aloha State?" (Human Resource Executive Online)
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THE DEFINED CONTRIBUTION PLANS SUMMIT
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Executive Compensation; Benefits in General
[Guidance Overview]IRS Chief Counsel's Advice on Year-End Bonus Accruals (PDF)
Excerpt: "As the end of the year approaches, many companies are establishing a 2009 bonus accrual so that they can take a 2009 deduction for bonuses paid early in 2010. An Internal Revenue Service Chief Counsel Advice, released December 4, 2009, provides a useful reminder that an accrual for bonuses must meet certain conditions for the bonuses to be deductible in the year earned, rather than in the year paid. Thus, companies should carefully consider how any year-end bonus accrual is structured." (Sutherland Asbill & Brennan LLP)
[Guidance Overview]
Risk Assessment under SEC's New Final Executive Compensation Disclosure and Governance Rules
Excerpt: "The requirement for assessing whether the company's executive compensation plans encourage risk taking is included in the final rules. However, there are a couple of clarifications that should lessen the burden it imposes on reporting companies." (Michael Melbinger via Winston & Strawn LLP)
[Guidance Overview]
SEC's New Disclosure Rules Regarding Risk, Compensation, and Corporate Governance (PDF)
3 pages. Excerpt: "A number of the changes will require companies to gather additional information and in some cases, action by the board or a committee. As you begin to review how the changes impact your company's filings and processes, you will also need to start gathering the required information. Steps that can be taken today include revising (or supplementing) your annual Director & Officer Questionnaires and revising your prior year disclosures, including total compensation, for the change in reporting of stock awards and option awards." (Holme Roberts & Owen LLP)
[Guidance Overview]
SEC Amendments to Proxy Disclosure Rules Relating to Compensation and Corporate Governance (PDF)
4 pages. Excerpt: "The Commission clarified or changed several key areas under the amendments in response to comments received on the proposed amendments. The amendments will have an immediate impact on the 2010 proxy season, and companies should plan accordingly to comply with the amendments. This letter provides a highlight of the key items that were updated or changed in the final amendments . . . ." (Frederic W. Cook & Co., Inc.)
[Guidance Overview]
SEC's Expansion of Disclosures on Risk, Compensation and Corporate Governance (PDF)
3 pages. Excerpt: "The Commission's adopting release can be found at http://www.sec.gov/rules/final/2009/33-9089.pdf. The July 2009 proposing release also included amendments to the proxy solicitation process, which the SEC has deferred for consideration together with the pending shareholder access rule proposal." (Drinker Biddle)
Same-S.ex Spousal Case a Preview for D.C.
Excerpt: "The federal Defense of Marriage Act means the U.S. government cannot grant spousal benefits to federal workers in same-s.ex marriages, a government lawyer said in a claim likely to be repeated when g.ay marriage comes to the District." (The Washington Times)
Savings Rate of Americans Up
Excerpt: "This was the year of the return to financial sobriety -- if you judge such things by the nation's personal savings rate. That rate -- which was 4.4 percent in October, according to the Commerce Department's Bureau of Economic Analysis -- subtracts what we collectively spend from what we make and then expresses the result in percentage terms." (The New York Times; free registration required)
Philadelphia Police Contract Raises Salaries, But Long-Term Cuts Seen in Pension and Health Costs
Excerpt: "The five-year contract that arbitrators awarded Philadelphia police officers last week stands to save taxpayers hundreds of millions of dollars - just not any time soon. Future mayors will owe Michael Nutter big for putting the brakes on long-accelerating pension and health-care costs that have consumed a bigger slice of the city's spending year after year." (Philly.com)
Webcasts and Conferences
2010 IBI/NBCH Health & Productivity Forumin Texas on February 8, 2010
presented by National Business Coalition on Health and Integrated Benefits Institute
MBGH 30th Annual Conference
in Illinois on May 6, 2010
presented by Midwest Business Group on Health
(Click to post your webcast or conference)
Press Releases
U.S. Labor Department Sues to Appoint Independent Fiduciary for 401(k) Plan Abandoned by Rochester, NY, EmployerU.S. Department of Labor, Employee Benefits Security Administration (EBSA)
RSM McGladrey Expands its Focus on Retirement Services
RSM McGladrey, Inc.
(Click to post your press release)
Newly Posted Employee Benefits Jobs
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