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IRS Guidance Illustrates When Expenses Are Paid for 'Medical Care'
Excerpt: "Two recently released IRS Information Letters illustrate the analysis that applies in determining when expenses are paid for 'medical care' under Code § 213(d) so as to be deductible or eligible for payment by a health care flexible spending account."
(Deloitte via BenefitsLink.com)
Procedures Are Open for Waiver of Annual Limit Requirements
Excerpt: "The waivers are primarily addressed toward 'limited benefit' or 'mini-med' plans, which often have annual limits below the restricted annual limits that are scheduled to become effective beginning September 23, 2010. The procedures make clear that the waivers will be available only for plan years beginning before January 1, 2014 (when annual limits are prohibited altogether on essential health benefits)."
(Deloitte via BenefitsLink.com)
DOL Wage and Hour Division Guidance Regarding Parents in the Workplace
Excerpt: "[The Department of Labor . . . recently issued guidance to employers regarding (1) employees who are entitled to take leave as a parent pursuant to [FMLA]; and (2) implementing the break time requirement for nursing mothers in [PPACA]."
New Notices and Disclosures Due Under Health Care Reform
Excerpt: "Employers with group health plans must provide a host of new or expanded government reports, employee notices and other disclosures under the Patient Protection and Affordable Care Act. While some requirements are straightforward, others await regulatory guidance, which may include model notices or forms."
Health Care Reform and the Advent of Unlimited Lifetime Maximums: ISCEBS/Aegis Risk Survey Findings (PDF)
2 pages. Excerpt: "This year's survey was completed in the wake of health care reform and its removal of individual lifetime maximums - which significantly alters the underlying risk covered by medical stop loss. Although stop loss is not mandated to offer unlimited coverage, the risk is created, and according to this year's survey, 79% of respondents intend to review its coverage ? with 44% of those stating its requirement."
(International Society of Certified Employee Benefit Specialists)
Lower Taxes, Lower Premiums: The New Health Insurance Tax Credit
Excerpt: "This report takes a closer look at these premium tax credits, which will go into effect in 2014 and will help Americans with incomes up to four times the federal poverty level ($88,200 for a family of four in 2010) afford coverage."
Reform Rule on Covering Adult Children Looms
Excerpt: "One of the first big pieces of health care reform legislation kicks in this month, when adult children up to age 26 must be covered by employed parents' health insurance, regardless of student status. Previously, only dependents in college typically remained on their parents' insurance plans after age 18, unless state law mandated coverage for older children who were not in school."
(Workforce Management; free registration required)
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Benefits in General; Executive Compensation
Employee Ownership Update for September 14, 2010
NCEO Executive Director Corey Rosen discusses the following: The NCEO has completed an extensive analysis of ESOP companies based on DOL data; unlike prior studies, this one combines data from multiple plans. The DOL has issued interim regulations for certain service providers to qualified retirement plans. The IRS is cracking down on 'ROBS' plans. A new report finds that higher CEO pay is not linked to superior shareholder returns.
(National Center for Employee Ownership)
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