No matter how benefits-savvy your employees may be, today’s health care environment can confuse the most sophisticated consumer. That’s why companies large and small use BeneCom for their benefits communication. We know benefits and we understand what employees need to know to make them work – for themselves and for you. And while we’re at it, we make your life a little easier, too.
For more information visit our site or call (860) 674-2626, Ext. 2001
Impact of Legislation and Guidance on Employer-Sponsored Grandfathered Plan Status (PDF)
8 pages. Excerpt: "Specifically, this bulletin addresses the definition of grandfathered group health plan, documentation and disclosure requirements applicable to grandfathered group health plans, the circumstances that cause a group health plan to lose grandfathered plan status, certain transition relief for group health plans that unintentionally lost grandfathered plan status, Reform Legislation requirements applicable only to non-grandfathered group health plans and special rules applicable to retiree-only and insured collectively bargained group health plans."
(Thompson Hine LLP)
Agencies Release Interim Final Rule on Preventive Care Services (PDF)
3 pages. Excerpt: "Under the Affordable Care Act, group health plans and health insurance issuers that are not grandfathered health plans or that lose their grandfathered health plan status are required to provide a wide array of preventive care items and services with no cost sharing."
More Small and Midsize Companies Looking at Self-Insurance for Health Care
Excerpt: "Conventional wisdom has long held that self-insurance works best for larger populations, because the claims tend to be more consistent across bigger groups of people. The rule of thumb has been that it takes a minimum of 1,000 'covered lives,' or employees and their dependents, to make the strategy work."
Benefits in General; Executive Compensation
Deduction Limit on Compensation Paid by Health Insurance Providers
Excerpt: "Although the Code already limited the deductibility of compensation paid to certain executive officers of publicly held companies in excess of $1,000,000, there are several key differences between the previous rules and the new limit . . ., as applicable to covered health insurance providers . . . ."
(Seyfarth Shaw LLP)
CFO Insights on Executive Compensation: Plan, Perform & Pay (PDF)
3 pages. Excerpt: "As a rule of thumb, the base salary constitutes 30% of total compensation, the annual incentive another 20%, the benefits about 10% and long-term incentives or the wealth creation portion of the compensation about 40%. Indeed, before the financial crisis, there was a lot of board attention to improving the relationship between pay and performance."
(Deloitte Development LLC via Financial Executives International)
ERISA's Statute of Limitations for Benefit Claims: Where To Begin?
Excerpt: "Plan designers have been able to alleviate somewhat the difficulties of defending dated claims by inserting shorter limitations periods into the plan documents. Courts have looked favorably on such provisions, provided that they are reasonable and communicated clearly. But these rules do not change the fact that, however short the limitations period is, the period ordinarily still will not begin to run until the administrative claim has been filed and denied."
(Bloomberg Finance L.P. via Proskauer Rose LLP)
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