Register now for the 2010 SPARK National Conference, June 13-15 at the Mandarin Oriental Hotel in Washington, DC. Join the top marketing, sales, administration and record keeping professionals at the retirement services industryís leading educational and networking event. Gain insights into the latest business, marketing and sales strategies. Get updates on current market trends, regulatory and legislative issues. Attend sessions designed for TPAs, Financial Advisors and RIAs. Network with peers and earn Continuing Education Credits.
Health Care Reform: The Retiree Reinsurance Program (PDF)
4 pages. Excerpt: "This issue of Health Care Reform Insights summarizes the key provisions of the retiree reinsurance program: Group health plan eligibility, Retiree eligibility, Retiree expenses eligible for reinsurance program, Process to obtain the reinsurance, Chronic and high-cost condition programs required, Plan use of funds, Annual audits required, and Appeals and fraud protection. This issue of Health Care Reform Insights also highlights open issues. It concludes with a list of action steps for sponsors of health plans that cover early retirees."
(The Segal Group, Inc.)
COBRA Subsidy Extended Through May 2010 (PDF)
4 pages. Excerpt: "For the third time, the COBRA premium subsidy program has been extended, this time through May 31, 2010, under the Continuing Extension Act of 2010 (Act). The key provisions of the Act include: The extension of the eligibility period for the COBRA subsidy through May 31, 2010. A new special election period and related notice requirement for individuals who experience a qualifying event that is related to a termination of employment on or after April 1, 2010, and before April 15, 2010."
(Drinker Biddle & Reath LLP)
Dependent Coverage Requirements under Health Reform
Excerpt: "Although the Affordable Care Act requires that group health plans and health issuers that cover dependent children do so 'until the child turns 26 years of age,' this provision does not affect the income tax exclusion for employer-provided health benefits under the Internal Revenue Code. In a separate change made by the Health Care Reconciliation Act of 2010 (Sec. 1004(d)(1)), the tax exclusion for employer-provided health benefits has been extended to include any adult child 'who as of the end of the taxable year has not attained age 27,' regardless of whether or not the dependent is a full-time student, disabled, or married."
Prohibition on Rescinding Coverage Under Health Care Reform
Excerpt: "So what's included in Sec. 1001 of the Affordable Care Act, concerning the prohibition on rescinding coverage? The guaranteed renewability of health insurance coverage provisions of the Public Health Service Act (PHSA) are expanded to expressly prohibit group health plans and health insurance issuers offering group or individual coverage from rescinding coverage of an enrollee once the enrollee is covered, except where an individual has performed an act or practice constituting fraud or has made an intentional misrepresentation of material fact as prohibited under the terms of the plan or coverage."
Health Care Reform Update, April 21, 2010
Excerpt: "[The target page links to] a revised chart that summarizes key provisions of PPACA, as amended by the Health Care and Education Reconciliation Act of 2010 ('Reconciliation Bill') that was subsequently enacted on March 30, 2010. The attached chart summarizes PPACA's provisions with respect to the following areas: Insurance Market Reforms; Employer Responsibility; Exchange; Individual Responsibility; and Revenue Raisers."
(Groom Law Group)
Employer Responsibility under Health Reform
Excerpt: "The employer responsibility requirement is designed to strengthen the system of employer-sponsored insurance, which is the primary source of health coverage for nonelderly Americans. It encourages firms that now offer health insurance to continue doing so, and it encourages firms that do not offer coverage to start. Covering as many people as possible through employer-sponsored insurance will hold down the cost of health reform to taxpayers."
(Center on Budget and Policy Priorities)
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Executive Compensation; Benefits in General
Hearing on H.R. 4855, Work-Life Balance Award Act
Excerpt: "The legislation, authored by subcommittee chairwoman Rep. Lynn Woolsey (D-CA) and committee chairman Rep. George Miller (D-CA), recognizes on an annual basis exemplary employers that provide their employees the ability to achieve a work-life balance through the creation of a Work-Life Balance Award within the Department of Labor. A bipartisan advisory board representing both private and public employees, labor and family advocates will develop the award's criteria."
(U.S. House Committee on Education & Labor, Workforce Protections Subcommittee)
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