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BenefitsLink Health & Welfare Plans Newsletter

September 14, 2011 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search
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Employee Benefits Jobs

Retirement Plan Services Senior Associate (00812VBSFS)
for Dixon Hughes Goodman in VA

Retirement Plan Transition Consultant
for Bethesda based financial services firm in MD

Director - Fund Operations
for MassMutual Financial Group in MA

Conversion Manager
for Charles Schwab in OH

Actuary
for Lurie Besikof Lapidus & Company, LLP in MN

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Webcasts and Conferences

401(k) Rekon Advisor Symposium- Bellevue
in West Virginia on September 27, 2011 presented by 401(k) Rekon

ERISA Fiduciary Training: What is Required of ERISA Fiduciaries and Those They Supervise?
Nationwide on September 14, 2011 presented by ABA


We also publish the BenefitsLink Retirement Plans Newsletter (free): Subscribe

[Official Guidance]
CHIP Model Notice for Employers Regarding Premium Assistance Opportunities (PDF)
"If you live in one of the following States [see chart for Free Or Low-Cost Health Coverage To Children And Families], you may be eligible for assistance paying your employer health plan premiums. The following list of States is current as of July 31, 2011." (U.S. Employee Benefits Security Administration)


Earn your CEBS (Certified Employee Benefit Specialist) Designation   [Advert.]

Sponsored by IFEBP (International Foundation of Employee Benefit Plans)

CEBS is the most respected benefits designation in the industry. Co-sponsored by the International Foundation and the Wharton School, the program is an essential step for those who want to advance in the employee benefits industry. Learn More..


[Guidance Overview]
Health Care Reform September 2011 Newsletter (PDF)
"Read the most current info on the next wave of requirements including nondiscrimination rules, W-2 reporting, and cap on annual FSA contributions; the new summary of benefits and coverage; the courts split on the constitutionality of health care reform; proposed regulations on how the eligibility for federal cost-sharing assistance will be administered; whether to continue to offer a health plan once the state-based exchanges become available; and the new guidelines for women's preventative care services." (Miller, Johnson, Snell & Cummiskey C.L.P.)

[Guidance Overview]
Will the Affordable Care Act Ultimately Prohibit Stand-Alone HRAs?
"[U]nless further relief is provided, stand-alone HRAs (that are not retiree-only or excepted-benefit HRAs) that became effective on or after September 23, 2010 are currently subject to the annual limit requirements, and those which became effective earlier but are covered by the class exemption will be subject to the annual limit requirement when the exemption expires beginning with the first plan year beginning on or after January 1, 2014." (Deloitte via BenefitsLink.com)

U.S. District Court in Pennsylvania Declares Key Part of Obama's Health Plan Unconstitutional
"U.S. District Judge Christopher C. Conner said in a 53-page opinion that the federal government's power to regulate commerce did not give it the authority to compel individual citizens to purchase products against their will." (Philadelphia Inquirer)

Technology Growth and Expenditure Growth in Health Care
"New health care technologies offer the promise of improved health and longevity, but also are widely viewed as the biggest contributor to rising health care costs in the U.S. This duality raises the question of whether new technologies are worth the cost and how the rate of health care innovation can be slowed if the costs of new technology exceed the benefits." (National Bureau of Economic Research; paid subscription or individual purchase required to retrieve fulltext)

Is Health Care Pricing Transparency at Hand?
"Pricing for such services as colonoscopies, endoscopies, radiological imaging, cardiac catheterizations, and many others can, in one plan and geography, be several times greater for the highest-cost provider than the lowest-cost one. Jeffrey Rice, CEO of Health Care Blue Book, cites an example of colonoscopies for a real client in a single plan year. There were 18 such procedures, the most expensive being more than $3,500; the least being under $1,000." (CFO Acquisitions LLC)

The Value of Work-Based Wellness Programs
"According to recent research, such programs around the country save $1.9 tril.lion in health care costs per year." (The Henry J. Kaiser Family Foundation)

Health Insurance in the Small Business Market: Availability, Coverage, and the Effect of Tax Incentives (PDF)
"Historically, there have been distinct advantages to obtaining health insurance coverage through an employer. Individuals who receive health insurance coverage through an employer often have the advantages of group rates, risk pooling, and cost sharing that are not available to individuals who purchase health insurance on their own. One distinct advantage to employer-provided health insurance is the Federal, and sometimes state, tax advantages that accrue to employees." (U.S. Small Business Administration)

Employers Tell Workers to Get Healthy or Pay Up
"Instead of waiting to pick up the tab when someone gets sick, more employers now expect their workers to be engaged in staying healthy. They want workers to get annual physicals, know whether they have diabetes, hypertension or high cholesterol and then take actions to control the conditions." (www.tennessean.com)

Benefits in General; Executive Compensation

[Guidance Overview]
SEC Delays Guidance on Key Executive Compensation Requirements under Dodd-Frank (PDF)
"The new adoption dates for these rules were pushed back to the January-June 2012 period. [This memo briefly summarizes] these requirements and the potential legislation that could eliminate one of the Dodd-Frank Act requirements entirely." (Groom Law Group)

Shareholder Say on Pay is Still Critical for the 2012 Proxy Season
"First the good news: As of September 12, only 38 companies—maybe 41, depending on how you count—had failed to receive a majority vote in favor of their SSOP resolutions. Out of approximately 2,500 shareholder votes, that figure represents a strong endorsement by most shareholders of their companies' compensation packages." (Michael S. Melbinger via Winston & Strawn LLP)

New Representative Appointed to ERISA Advisory Council
"Mary Ellen Signorille has been appointed to the Advisory Council on Employee Welfare and Pension Benefit Plans, also known as ERISA Advisory Council." (PLANSPONSOR.COM)

Employers Penalize Workers for Using Work-Life Programs
"According to [WorldatWork]'s survey, . . . although 80% of employers around the globe say they support for family-friendly workplaces, employees respondents report that when they took advantage of work-life programs, they've: Been overtly or subtly discouraged from using the programs. Received unfavorable job assignments. Received negative performance reviews. Received negative comments from a supervisor. Been denied a promotion." (Employee Benefit News; free registration required)

New White Paper Helps Benefits Pros Decode Generation Y
"According to a new white paper from Colonial Life, HR/benefits professionals can craft benefits effective programs by understanding several Gen Y traits . . . ." (Employee Benefit News; free registration required)

Atlantic City Casino Union Fights Pay Cut, Benefits Proposal
"In addition, [a union president] said, the casinos want union members to start contributing for the first time toward the cost of their health and pension benefits. Over the past seven years, workers' base pay has risen by only 55 cents an hour because the union has been adamant about protecting health benefits . . . ." (The San Diego Union-Tribune, LLC)

2011 Aflac WorkForces Report: Main Study Findings
"The . . . Report provides compelling details about how corporate America and its workers perceive the issues of health and workplace benefits. The study confirms a direct correlation between the caliber of employee benefits and workers' overall health, the profitability of our nation's businesses and the productivity of its workforce." (Aflac Incorporated)

Ban on Patenting Tax Strategies Has Implications for Benefit Plans
"Strategies to reduce, avoid or defer taxes generally won't be patentable under the patent system overhaul passed by the Senate Sept. 8 and headed to the president for his expected signature. The provision covers inventions 'suitable for use with tax-favored structures that must meet certain requirements, such as employee benefit plans,' a committee report notes, adding that the law should 'help ensure that patents do not infringe on the ability of others to interpret the tax law.'" (Mercer LLC)

Cell Phones and Transportation Fringe Benefits on IRS To-Do List
"The IRS . . . list includes writing up a notice on cell phone substantiation and finalizing guidance on debit cards used with qualified transportation fringe benefits . . ., according to its 2011-2012 priority guidance plan published Sept. 2." (SmartHR)

Press Releases

US Department Of Labor Issues Interim E-Disclosure Policy Under Participant Fee Disclosure Regulations
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Secretary of Labor Hilda L. Solis Announces Appointment of New Member to ERISA Advisory Council
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Aetna Makes it Easier for Members to Share Personal Health Information with Care Providers to Improve Quality Care
(Aetna)

How Much is Enough? Russell Introduces “Rule-of-Thumb” for an Appropriate Savings Rate
(Russell Investments)

AlwaysCare Benefits’ Member Survey Shows 97 Percent Satisfaction Rate
(AlwaysCare Benefits, Inc.)

AlwaysCare Benefits/Starmount Life Named to Inc. 5000 List of Fastest-growing Companies
(AlwaysCare Benefits, Inc.)

Legal Counsel Sought by the State of Connecticut for Advice on Tax and Pension Matters
(State of Connecticut, Office of the Attorney General)

Insperity Selects Tango Health’s Health Savings Account (HSA) Solution to Maximize Employee Health Care Savings
(Tango Health)

Avoidable Benefits Mistakes, Personal Sacrifices Common Among American Workers
(Aflac)



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Jeanette Hull, News Editor
David Rhett Baker, J.D., Editor and Publisher
Lois Baker, J.D., President
Holly Horton, Business Manager

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