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50 Mil.lion Americans Uninsured, According to CDC Report:
Excerpt: "'According to a new report by the Centers for Disease Control and Prevention, 49.9 mil.lion people ages 18 to 64,' or about 26.2 percent of the adult population, 'had no medical coverage for at least part of the past 12 months."
(Henry J. Kaiser Family Foundation)
New Waiver Requirements for Mini-Med Plan Sponsors
Excerpt: "Sponsors of 'mini-med' plans that receive waivers from federal regulators to allow them to temporarily continue to offer the arrangements face new reporting requirements."
How Michigan Blue Cross Stifled Ford's Attempt to Control Health Costs
Excerpt: "As health care costs soared nationally, a small Michigan firm gave Ford Motor Co. a proposal to cut its physical therapy costs. The automaker signed up for an in-state pilot program, which was so successful Ford expanded it last year to cover about 390,000 employees, retirees and their families nationwide. Yet the cost-saving program created by Pontiac-based TheraMatrix has come under attack from Blue Cross Blue Shield of Michigan."
New Health Rules Being Waived More Often
Excerpt: "As Obama administration officials put into place some of the new rules that go into effect under the federal health care law, they are issuing more waivers to try to prevent some insurers and employers from dropping coverage and also promising to modify other rules because many of the existing policies would not meet new standards."
(The New York Times; free registration required)
Some Companies Shift Health Costs to Better-Paid
Excerpt: "With health care costs climbing even higher during this enrollment season, more employers are adopting a tiered system to pass on the bulk of those costs to their employees by assigning bigger contributions to workers in top salary brackets and offering some relief to workers who make less money."
(The New York Times; free registration required)
Employee Perspectives on Health Care: The Affordability Gap
Excerpt: "As health care costs continue to rise, new Towers Watson survey results show that there is a growing affordability gap that could threaten employees' financial security. While few have taken more actions in the past two years to control these costs, many are becoming increasingly risk-averse."
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Benefits in General; Executive Compensation
IRS Revenue Ruling 2010-27: Addressing Qualifying 'Unforeseeable Emergencies' for Distributions (PDF)
Excerpt: "The revenue ruling provides guidance, in the form of examples, on what constitutes an unforeseeable emergency distribution under section 457(b) of the Code and section 1.457-6(c) of the regulations. The revenue ruling also applies the same standards to distributions from a nonqualified deferred compensation plan subject to section 409A."
(U.S. Internal Revenue Service via American Benefits Council)
Section 409A Compliance: Deadline for Taking Advantage of Correction Program Is December 31, 2010
Excerpt: "Companies should review all of their non-qualified deferred compensation arrangements to ensure that they comply with Section 409A and, if they do not comply, act now to take advantage of the Notice 2010-6 document correction program, as the relief available under Notice 2010-6 expires at the end of this year."
(Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.)
Retirement Plan Status Affecting Options: No ERISA Claim
Excerpt: "Specifically, the Second Circuit rejected a former employee's argument that it was an ERISA breach of fiduciary duty for a stock plan administrator to assure the former employee that she could exercise her options following retirement under an ERISA-covered retirement plan."
(Utz, Miller & Eickman, LLC)
Webcasts and Conferences
The ASPPA 401(k) SUMMIT
in Nevada on March 6, 2011
ASPPA (American Society of Pension Professionals & Actuaries)
Newly Posted Employee Benefits Jobs
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