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May 16, 2011 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

[Official Guidance]
Text of IRS Rev. Proc. 2011-32: HSA Limits for 2012
"For calendar year 2012, a 'high deductible health plan' is defined under § 223(c)(2)(A) as a health plan with an annual deductible that is not less than $1,200 (no change from calendar year 2011) for self-only coverage or $2,400 (no change from calendar year 2011) for family coverage, and the annual out-of-pocket expenses (deductibles, co-payments, and other amounts, but not premiums) do not exceed $6,050 for self-only coverage or $12,100 for family coverage." (PLANSPONSOR.COM)


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[Guidance Overview]
'Substantial Compliance' Does Not Excuse Participant's Failure to File Timely Appeal
"ERISA doesn't specifically require a participant to exhaust a plan's claims procedures before filing suit, but most courts require it. This decision summarizes some of the important reasons for requiring exhaustion . . . ." (Thomson Reuters/EBIA)

[Guidance Overview]
CMS's Revised Model Disclosure Notices for Part D Eligible Individuals
"Employers using the model disclosure notices will need to replace them with the revised versions, while those using customized versions of the notices should review their practices for providing personalized information for consistency with the revisions." (Thomson Reuters/EBIA)

Law Firm Investigating Several Life Insurance Companies for Potential Violations of Various State Laws As Well As ERISA
"According to a press release from the law firm, the investigation focuses on insurers that allegedly delay or withhold payments to beneficiaries despite knowledge that the life insurance policy holder has passed away." (PLANSPONSOR.COM)

Medicare Finances: Findings of the 2011 Trustees Report
"The 2011 report projects that Medicare's Hospital Insurance (HI) Trust Fund will remain solvent until 2024, at which time projected annual income will cover 90 percent of expenditures. This year's report decreases the date of solvency by five years." (National Academy of Social Insurance)

Nursing Homes Seek Exemptions from Health Law
"Among workers who provide hands-on care to nursing home residents, one in four has no health insurance. Among those who provide care to people living at home, one in three is uninsured." (The New York Times; free registration required)

Partnership Unveils Vision of Patient-Centered Care
"A coalition of 27 health, aging, labor and consumer organizations has released a report, the 'Consumer Platform for Health IT [see http://www.nationalpartnership.org/site/DocServer/CPeH_Platform_for_Health_IT_Final_5.6.2011.pdf?docID=8661],' which they call a vision for a patient-centered health care system." (Employee Benefit News; free registration required)

Medicare Faces Serious Financial Challenges Over the Next Few Decades
"Swings in the predictions about the financial health of Medicare are common year to year. But the latest scorecard puts renewed pressure on the administration to find ways to improve the economy and make sure its experiments in the health law to lower health costs can actually work . . . ." (Henry J. Kaiser Family Foundation)

The 2011 Annual Report of the Boards of Trustees of the Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds (PDF)
"As was the case with the 2010 Trustees Report, this report reflects the effects of the Patient Protection and Affordable Care Act, as amended by the Health Care and Education Reconciliation Act of 2010." (The Boards of Trustees, Federal Hospital Insurance and Federal Supplementary Medical Insurance Trust Funds)

Health Insurers Making Record Profits as Many Postpone Care
"Yet the companies continue to press for higher premiums, even though their reserve coffers are flush with profits and shareholders have been rewarded with new dividends. Many defend proposed double-digit increases in the rates they charge, citing a need for protection against any sudden uptick in demand once people have more money to spend on their health, as well as the rising price of care." (The New York Times; free registration required)

[Opinion]
American Benefits Council Comment Letter to HHS and Treasury Regarding State Waiver Proposed Regulations (PDF)
"The Council has unique concerns with respect to the state waivers authorized under section 1332 of the ACA. We are concerned that, unless properly and carefully administered, state waivers could undermine the uniform design and administration of employer plans that deliver health benefits . . . ." (American Benefits Council)

Benefits in General; Executive Compensation

[Guidance Overview]
Proposed SEC Rules Require Scrutiny of Potential for Conflicts of Interest in Compensation Advisors
"Committees should carefully evaluate all conflicts that could potentially hinder the consultant's providing fully objective advice and then determine whether and how they could be mitigated. As both Dodd-Frank and the proposed SEC rules confirm, mitigation processes can be put in place to ensure that companies receive fully objective and independent advice from their advisors, regardless of the category of firm they select." (Towers Watson)

Rewarding Global Employees with Stock Options or Other Equity-Based Compensation
"Equity-based compensation comes in many forms -- traditional stock options, restricted stock, restricted stock units, stock appreciation rights, performance shares, stock purchase rights and others. The type of award offered and the incentive plan design are two primary factors that affect compliance issues relevant to the implementation of a program in a new jurisdiction." (Pillsbury Winthrop Shaw Pittman LLP)

Special Research Report on Employee Financial Stress (PDF)
"Financial Finesse, the leading provider of unbiased workplace financial education in the U.S., has released its first special report for 2011 tracking trends in employee financial stress." (Financial Finesse)

Status of the Social Security and Medicare Programs
"The financial conditions of the Social Security and Medicare programs remain challenging. Projected long-run program costs for both Medicare and Social Security are not sustainable under currently scheduled financing, and will require legislative modifications if disruptive consequences for beneficiaries and taxpayers are to be avoided." (Social Security and Medicare Boards of Trustees)

The Question of the Connecticut Public Employee Union Deal
"In broad terms, the agreement would give current union workers job protection in exchange for some wage concessions and changes to future benefit and retirement plans." (Hearst Communications Inc)

[Opinion]
Bad News on the CEO Compensation Ratio Disclosure
"The SEC representatives pointed out, without taking a position on whether the requirements and methodology of Section 953(b) are good or bad, that they do not have the ability or flexibility to make changes that water down (my phrase, not theirs) the onerous and impractical aspect of this provision." (Michael S. Melbinger via Winston & Strawn LLP)

Press Releases

Employee Benefits Jobs

DC and/or DB Administrator / Analyst
for West Los Angeles & Orange County Area Company in CA

Sales Associate
for Dana Consulting Group in IL

DB Administrator/Enrolled Actuary
for Associated Pension Consultants in CA

Client Service Representative
for ExpertPlan, Inc. in NJ

Educational Programs Advocate Sales Position
for ASPPA in ANY STATE, DC

Onsite Participant Counselor
for Diversified in TX

Employee Benefits Attorney - Part Time
for Sony Corporation of America in NY

401(k) Administrator /Conversion Specialist
for Heartland Consulting Group, Inc. in KS, MO

Account Mgr I - SRS
for The Standard in OR

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