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BenefitsLink Health & Welfare Plans Newsletter
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EBSA Web Page: Focus on Health Care Fraud: MEWAs
A collection of information starting with the fact sheet, How To Protect Your Employees When Purchasing Health Insurance. Tips employers can use when comparing benefits and costs of multiple insurance products.
(U.S. Employee Benefits Security Administration)
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[Guidance Overview]
Transit Pass and Vanpool Benefits to Shrink to $125 Per Month in 2012
"Unless U.S. Congress acts before the end of 2011, the monthly tax exclusion for employer-provided transit pass and vanpool benefits will shrink to $125 in 2012, from the current $230. This reduction could mean the loss of hundreds of dollars of annual tax savings for employees who use these benefits. Meanwhile, the monthly tax exclusion for employer-provided parking benefits is scheduled to increase by $10 to $240 for 2012."
(McDermott)
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[Guidance Overview]
Guidance on Plan Asset Implications of Medical Loss Ratio Rebates
"The effective date of the final and interim final rules is January 1, 2012. HHS also requested comments in the final rule on certain issues, including how rebates are provided to group health plans and providing notice to enrollees. Comments are due no later than January 6, 2012."
(Practical Law Company)
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[Guidance Overview]
DOL Proposed Regulations Target MEWA Abuses
"The DOL's authority to issue cease and desist orders under the proposed regulations is not limited to MEWAs that are ERISA-covered employee welfare benefit plans. Instead, the authority reaches any arrangements that control the assets or management of ERISA-covered plans established and maintained by others."
(Practical Law Company)
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Obese People Use More Medications, According to Study
"Medications to treat high blood pressure and high cholesterol topped the list. Roughly a third of obese adults over the age of 20 used at least one drug to lower blood pressure and one in five used a cholesterol-lowering drug. That compares to about 17% of normal-weight adults on blood pressure meds and one-in-10 on cholesterol drugs."
(Reuters via Employee Benefit News)
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[Opinion]
Defined Contributions Define Health Care Future
"The market today is dominated by 'defined-benefit' plans, under which companies determine a set of health-insurance benefits that are provided for employees. These will gradually be replaced by defined-contribution plans, under which companies pay a fixed amount, and employees use the money to buy or help pay for insurance they choose themselves."
(Bloomberg L.P.)
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Benefits in General; Executive Compensation
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[Guidance Overview]
New IRS Regulation Project Tackles Definition of 'Governmental Plan'
"Governmental pension plans are exempt from the reporting, participation, vesting, and fiduciary standards of ERISA, and similarly governmental welfare plans are generally exempt from the ERISA rules that privately sponsored welfare plans must satisfy. Thus, a plan's status as ''governmental'' is critically important to defining the obligations of the plan sponsor, and the rights of participants and beneficiaries."
(Groom Law Group)
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Employees Want Cash and Benefits Gifts for the Holidays
"Nearly three-quarters (72%) of employees responding to a survey . . . said a cash bonus would be among their top choices for employer-gifted holiday perks this year, followed by a salary raise (62%), and paid time off (32%)."
(PLANSPONSOR.COM)
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Employee Financial Wellness a Growing Global Concern
"MetLife's 9th Annual Study of Employee Benefits Trends also found 78% of respondents said concerns over financial problems while at work can have a negative impact on employee productivity. In conjunction with the study, MetLife also released a white paper in coordination with the Boston College Center for Work & Family, titled The MetLife Study of Financial Wellness Across the Globe."
(PLANSPONSOR.COM)
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Press Releases
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