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January 16, 2012 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Financial Consultant
for TIAA-CREF in NM

Billing Team Manager
for Charles Schwab in TX

401(k) Sales/Marketing Director
for Malcolm Thompson & Associates in TX

Employee Benefits Sales Rep
for The Standard in CA

Account Manager - Health & Welfare
for The Plexus Groupe in IL

Actuarial Analyst
for Swerdlin & Company in GA

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Webcasts and Conferences

401(k) Rekon Advisor Symposium- Raleigh-Durham
in North Carolina on February 9, 2012 presented by 401(k) Rekon

401(k) Rekon Advisor Symposium- Woodland Hills
in California on February 9, 2012 presented by 401(k) Rekon

Defined Contribution Plan Basics Webcast
Nationwide on January 30, 2012 presented by American Society of Pension Professionals & Actuaries (ASPPA)

Ethics and Circular 230
Nationwide on April 26, 2012 presented by McKay Hochman Co., Inc.

Ethics Case Studies
Nationwide on February 23, 2012 presented by McKay Hochman Co., Inc.

Retirement Plan Basics Webcast
Nationwide on January 23, 2012 presented by American Society of Pension Professionals & Actuaries (ASPPA)


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

[Guidance Overview]
Two Important Deadlines Under the Early Retiree Reinsurance Program
"[1.] [CMS] requests Plan Sponsors that have received reimbursement under the Early Retiree Reinsurance Program (ERRP) to complete a survey located at https://www.research.net/s/CMS-ERRP-Survey. [2.] [HHS] is requiring Plan Sponsors that have been reimbursed with ERRP funds to submit a full-replacement Claims List that passes the automated edits introduced on October 1, 2011 and an associated reimbursement request by March 30, 2012 for each plan year." (Cheiron, Inc.)


Nat'l Health Benefits Conf & Expo (HBCE) Jan.31-Feb.1, Clearwater Bch, FL   [Advert.]

Sponsored by Health Benefits Conference & Expo (HBCE)

Dr. Oz praises books from speakers - hear from IBM, Sprint, Intel, Yahoo!, L.L. Bean, First Energy Corp., governmental employers, universities, more. Low cost, high quality!
More info and complete program: www.HBCE.com Ph: 941-484-1430 info@HBCE.com


[Guidance Overview]
Update on Fiscal Year Health FSAs and the $2,500 Limit
"On January 10, 2011 I posted about how employers with health FSAs that follow a fiscal year might comply with the $2,500 deferral dollar limit going into effect on January 1, 2013. This post updates and corrects the earlier post as follows: Notice 2012-9, which provides updated guidance on Form W-2 reporting of the value of group health care, exempts most health FSAs from the reporting requirement. The specific exemption applies to health FSAs that are exempt from HIPAA because they are funded entirely by employee salary deferrals, or because any employer contribution is $500 or less." (E is for ERISA)

[Guidance Overview]
HHS Adopts HIPAA Transaction Standards for Health Care Electronic Funds Transfer and Remittance Advice
"HHS confirmed that a health plan may rely on its financial institution to translate payment instructions into the new file format requirements without the financial institution necessarily becoming subject to HIPAA's requirements. But, as the preamble warns, the health plan, and not its financial institution, will be ultimately responsible for compliance." (Thomson Reuters/EBIA)

[Guidance Overview]
Pregnant Employee Terminated Prior to Becoming Eligible for Leave Can State Cause of Action under FMLA
"Employers should be aware that an employee who announces a future need for FMLA leave prior to becoming eligible for such leave may be protected by the FMLA if it appears likely the employee would be eligible by the time the leave were to commence." (Ogletree, Deakins, Nash, Smoak & Stewart, P.C.)

[Guidance Overview]
IRS Clarification of Previous Guidance on Form W-2 Informational Reporting Requirement
"Employers should continue to work with payroll administrators to determine their level of preparedness to administer this new reporting requirement. Employers should determine which of their benefit arrangements must be reported so as to accurately capture the correct benefit values for the 2012 Forms W-2." (Proskauer Rose LLP)


7th Annual Employer Health & Human Capital Congress   [Advert.]

Sponsored by World Congress

Find solutions to empower improved health outcomes, restructure benefits to achieve cost sustainability and implement measurable wellness and benefit designs that stand up to CFO-scrutiny. February 7-9, Washington, DC


[Guidance Overview]
Updated Guidance on Form W-2 Reporting of Health Care Coverage
"Employers should review their benefit plans to determine which plans meet the definition of 'applicable employer-sponsored coverage.' For example, employers should consider whether their EAPs, wellness programs, or on-site medical clinics would be considered group health plans and, further, whether they should report such coverage (consideration also should be made as to whether COBRA should be offered for such programs)." (Morgan, Lewis & Bockius LLP)

[Guidance Overview]
IRS Clarification of Form W-2 Reporting Obligations for Employer-Provided Health Coverage
"Although mandatory reporting on Form W-2 is a year away, the time for action is now. Employers should now (or very soon) begin discussions with their payroll departments (or outside payroll service providers) and create a schedule of what information is needed, who will provide it, and who will take the lead in overseeing all tasks, so that compliance with the reporting requirement does not slide to the end of the year, and become an overwhelming endeavor." (Davis Wright Tremaine LLP)

[Guidance Overview]
Employee Benefits & Executive Compensation Advisory: The Health & Welfare Benefit Year in Review (PDF)
"[Briefly outlined are] the major legislation, regulations and other federal guidance that either became effective or was issued in 2011 that had or will have a profound effect on health plans and other welfare benefits." (Alston & Bird LLP)

Ohio Hospital Touts Workplace Wellness
"The program offers a comprehensive health risk assessment (HRA) to identify health risk factors based on the employees' lifestyle and behavioral choices, personal and family medical history, and clinical measures including blood pressure, cholesterol, height and weight." (GateHouse Media, Inc.)

Regulations, Costs, and Uncertainty in Employer Provided Health Care (PDF)
Print of October 13, 2011, hearing. "It is clear our system of employer-provided health care is experiencing dramatic changes due in large part to a deeply flawed health care law. Today's hearings provide members of the subcommittee an important opportunity to examine these changes, their impact on workers and employers, and to discuss the solutions our nation needs to chart a better course." (U.S. House Committee on Education and the Workforce Subcommittee on Health, Employment, Labor and Pensions)

Creating an Employee Benefits Framework
"In a back-and-forth conversation, Harvard Medical School's Ron Kessler and Carol Harnett discuss some healthcare-plan design and ROI strategies for HR leaders, including the impact of recurring or chronic health conditions on accident and injury prevention." (Human Resource Executive Online)

Designing Consumer-Friendly Beneficiary Assignment and Notification Processes for Accountable Care Organizations (PDF)
"Advocates have an important role to play in ensuring that ACOs are designed in ways that meet the needs of patients and the community. This brief discusses the challenges advocates will face when developing beneficiary-friendly assignment processes, and it recommends including certain notice requirements and beneficiary protections." (Families USA)

Compliance of Group Health Plans (and Health Insurance Coverage Offered in Connection with Such Plans) with Requirements of Mental Health Parity and Addiction Equity Act of 2008
"[T]his Report focuses on summarizing DOL's initial implementation efforts. The Report provides an overview of MHPAEA, the Departments' joint interim final rules and sub-regulatory guidance, as well as a discussion of DOL's Employee Benefits Security Administration's efforts in developing an infrastructure for MHPAEA implementation." (U.S. Employee Benefits Security Administration)

Ohio Bureau of Workers' Compensation Implements Workplace Wellness Grant Program for Employers
"Effective January 10, 2012, the [bureau] has implemented a new program providing grants up to $15,000 over 4 years to state-fund employers to create workplace wellness programs for the prevention of occupational injuries and illnesses and to address health risk factors to reduce the number and severity of workplace injuries and illnesses." (Porter Wright Morris & Arthur LLP)

Which Industries Pay the Highest Health Care Cost Per Employee?
"The 2011 Society for Human Resource Management . . . Health Care Benchmarking Survey examined health care costs for U.S. employees and found that costs vary widely, depending on the industry. . . . Some of the industries that the survey found 'spent the most on health care per covered employee during plan year 2010' were: Utilities; Insurance; Real Estate; Government; and Manufacturing." (J.P. Farley Corporation)

Kodak Retirees Fear for Health Care Benefits
"For many Eastman Kodak Co. retirees, the company's financial trouble is shaking the very foundation on which they built their careers, lives and nest eggs. . . . While retirees have reason to be worried about their health care, their pensions should be safe, according to several financial experts." (www.democratandchronicle.com)

Employer Health Fair Saves Employee's Life
"By participating in a health fair through his employer, [an employee] learned he had prostate cancer. He now works to encourage others to participate in these types of screenings." (The Herald-Citizen)

Massachusetts Cities Face $4.5B Unfunded Retiree Health Care Costs
"'Without reforms, over the next 30 years municipalities would be forced to siphon tens of millions from education, public safety and other critical services simply to fund the annual costs of retiree healthcare, leading to the layoffs of hundreds if not thousands of municipal employees,' the report said . . . ." (PLANSPONSOR.COM)

Uniform Rate Setting for Medical Provider Payments Offers Best Potential for Cost Containment
"Among the cost growth containment options considered are more aggressive limits on the tax exclusion for employer-based insurance, malpractice reform, targeted disease prevention policies, care coordination for those with chronic illnesses, lowering spending at the end of life, bundled payment mechanisms, strengthening the health insurance exchanges, the introduction of a public plan option in the health insurance exchanges, rate setting focused on the health insurance exchange markets, and all-payer rate setting." (Wolters Kluwer Law & Business / CCH)

[Opinion]
Single-Payer Health Care Will Increase Choice
"A publicly financed, single-payer system will actually give us more choice. Right now, employers have little choice of affordable options that offer good coverage. Many cannot afford to offer it at all. Employees have no choice as to which policy or policies their employer offers." (VTDigger)

[Opinion]
Fitness Memberships and Favorable Selection in Medicare Advantage Plans
"This study further confirms what we have known all along — that private insurers selectively market to the healthy, further cushioning their profits by being paid at rates for those with only average health." (Physicians for a National Health Program)

Benefits in General; Executive Compensation

[Guidance Overview]
Incentive Stock Options and Employee Stock Purchase Plans: IRS Information Statements and Information Returns under Section 6039
"For incentive stock option exercises and transfers of stock acquired under employee stock purchase plans in 2011, the employer must furnish employee information statements no later than January 31, 2012 and must file information returns with the IRS no later than February 28, 2012 (or March 31, 2012 if filing electronically)." (Cooley LLP)

[Guidance Overview]
Top-Hat Plan Test for Your ERISA Executive Deferred Compensation Plan: Daft v. Advest, Inc.
"A recent Sixth Circuit decision provides a tutorial on designing and administering an ERISA executive compensation top-hat plan." (Porter Wright Morris & Arthur LLP)

In Observance of Martin Luther King Jr. Day Today: Video of 'I've Been to the Mountaintop' Speech in 1968
"Martin Luther King Jr. delivered his last speech, known colloquially as his 'I've Been to the Mountaintop' speech, in Memphis, Tennessee on April 3, 1968. The next day, he would be assassinated." (Open Culture)

In Observance of Martin Luther King Jr. Day Today: Video of 'I Have a Dream' Speech in 1963
"For MLK's birthday, [Open Culture brings] back the full 'I Have a Dream' speech, delivered at The Lincoln Memorial on August 28, 1963. Seventeen eloquent and brave minutes that changed the world and made it a better place." (Open Culture)

Press Releases

US Labor Department Recovers More than $114,000 for Profit-sharing Plan of Defunct Mentor, Ohio, Company
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

Bethlehem, Pa., Company Agrees to Restore More than $34,300 to Employee 401(k) Plan Following US Labor Department Lawsuit
(U.S. Department of Labor, Employee Benefits Security Administration (EBSA))

ASPPA Launches Plan Consultant Magazine
(American Society of Pension Professionals & Actuaries (ASPPA))

NCPA Comments on FTC Action Against CVS Caremark, Vows to Continue PBM Transparency Efforts
(National Community Pharmacists Association (NCPA))

Disability, Health Groups Support Individual Mandate in Supreme Court Amicus Brief
(National Senior Citizens Law Center)



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