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Health & Welfare Plans Newsletter

September 16, 2010

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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

Large Employers Still Unsure About The Future of Retiree Drug Benefits
Excerpt: "[A] majority of large employers are still undecided regarding whether to make any changes to retiree drug benefits in anticipation of taxation of the Retiree Drug Subsidy in 2013 . . . ."
(Drug Benefit News via

Trial Looks Likely in States Challenge to Health Overhaul
Excerpt: "Just as some of the first provisions of the new federal health law are set to kick in, a legal challenge brought by 20 states is getting some traction."
(National Public Radio)

2011 Employer Health Care Hikes Pegged at 8 Percent
Excerpt: "Employer health care costs for active employees next year are projected to rise 8.2% after plan changes, to an average annual cost of $10,730, according to a recent Towers Watson survey."

Premium Tax Credit Could Slash Private Health Insurance Costs
Excerpt: "More than half of those who will be eligible for the premium tax credit will be working for small businesses with fewer than 100 workers . . . ."

How the Boss Deals with Health Reform Law Could Affect Your Paycheck
Excerpt: "So what changes are employers considering to manage costs -- and increase what employees pay -- that would cause them to lose their grandfathered status? 35 percent would increase deductibles or out-of-pockets payments above the limits. 23 percent would raise copays above permitted levels. 31 percent would increase co-insurance levels beyond grandfathered limits."
(National Public Radio)

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Benefits in General; Executive Compensation

Pension Money Lost in Chrysler Bankrup.tcy, Executives Claim
Excerpt: "According to the suit, Daimler converted current executives' pensions into annuities back in 2005, when the company began experiencing financial problems. For reasons unexplained, the company failed to do the same with former employees' pensions."

Public Plans, Including University of California's, Facing Ballooning Deficits
Excerpt: "A poster child emerged last week for the developing crisis faced by underfunded public pensions. It was announced that the University of California has a $21 billion unfunded liability for its retiree health and pension benefits."
(The Street)

New Jersey Governor Christie Outlines Cuts to Future Pensions, Health Care Coverage
Excerpt: "Christie wants to raise the number of years used to calculate that average salary from three years to five for state workers and school employees, and one year to three years for police and firefighters. Assembly Speaker Sheila Oliver (D-Essex) said making workers pay health care based on the cost of premiums would hurt lower paid workers."
(The Star-Ledger)

Webcasts and Conferences

Free Webcast - FASB Standards Proposal--Potential Major Impact on Multiemployer Plans and Employers
Nationwide on September 23, 2010
presented by International Foundation of Employee Benefit Plans

Pension and Retirement Savings Plan Fundamentals
in New York on September 30, 2010
presented by New York Metropolitan Area Chapter - ISCEBS

U. S. Department of Labor's ERISA Advisory Council to Hold Oct. 4 Meeting
in District of Columbia on October 4, 2010
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Press Releases

US Labor Department Obtains Judgment Restoring Nearly $18,000 to Clinton, Md., Retirement Plan
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)

Prudential Launches IPS Scorecard Tool
Prudential Financial, Inc.

ASPPA Applauds Passage of Roth Conversion Provision
American Society of Pension Professionals & Actuaries (ASPPA)

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in PA

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for Metro Transit
in MO

Sr Proposal Writer
for T. Rowe Price
in MD

Annuity Payment Specialist-(Contractor)
for SunGard Financial Systems
in NJ

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