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April 13, 2012 Get Retirement News  |  Advertise  |  Unsubscribe  |  Past Issues  |  Search

Employee Benefits Jobs

Pension Administrator
for People's United Bank in VT

Pension Administrator
for Hackler Associates in MA

Retirement Plan Specialist
for Ambrose in CT

Defined Benefit Pension Specialist
for Prudential in CT

Consultant/Client Relationship Manager (CRM)
for The Segal Company in NY

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Webcasts and Conferences

401(k) Plan Basics
in California on May 8, 2012 presented by Actuarial Consultants, Inc.

Annual Plan Administration
in California on May 8, 2012 presented by Actuarial Consultants, Inc.

Annual Plan Administration
in California on May 16, 2012 presented by Actuarial Consultants, Inc.

401(k) Plan Basics
in California on May 16, 2012 presented by Actuarial Consultants, Inc.

Form 5500 for Health and Welfare Plans: Preparation and Filing Basics
Nationwide on April 12, 2012 presented by Thomson Reuters / EBIA

Retirement 20/20: Rethinking the Three-Legged Stool
in Massachusetts on May 18, 2012 presented by New England Employee Benefits Council

Choosing a Retirement Solution for Your Small Business Workshop
in Missouri on April 24, 2012 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)


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[Official Guidance]
Text of IRS Notice of Proposed Rulemaking and Notice of Public Hearing on Fees on Health Insurance Policies and Self-Insured Plans for Patient-Centered Outcomes Research Trust Fund (PDF)
"This document contains proposed regulations that implement and provide guidance on the fees imposed by [PPACA] on issuers of certain health insurance policies and plan sponsors of certain self-insured health plans to fund the Patient-Centered Outcomes Research Trust Fund. These proposed regulations affect the issuers and plan sponsors that are directed to pay those fees. This document also contains a request for comments and provides notice of public hearing on these proposed regulations." (Internal Revenue Service)


Prevention & Wellness Conference: Sustainable Improvements in Population Health   [Advert.]

Sponsored by World Congress

Develop a plan for engaging, efficient and measurable wellness and prevention. Improve population health outcomes through prevention initiatives based on data and best practices from leading corporations, health plans and wellness thought leaders.


[Guidance Overview]
Bank Is Not Fiduciary and Prohibited Transaction Does Not Occur When Sweeping Funds from Employer Bank Account
"The court found that the bank was not a fiduciary because it did not have discretionary control over plan assets nor discretion over administration of the plan. The court further found that the bank did not engage in a prohibited transaction because it did not engage in any transactions with the plan." (Haynes and Boone)

[Guidance Overview]
Once Bitten, Twice Shy: COBRA Excise Tax Audits May Add to COBRA's Bite
"Now, after a 10-year task force study, the IRS has published revised audit guidelines (the 'Guidelines') for COBRA compliance. The stated purpose of revising the COBRA audit guidelines was to incorporate changes to account for new laws that have affected COBRA since the 1994 Guidelines, such as the Health Insurance Portability and Accountability Act (HIPAA) and the Family and Medical Leave Act (FMLA). The updated Guidelines apparently herald a new COBRA compliance audit effort by the Service." (Littler Mendelson)

Cuomo Orders New York Health Insurance Exchange
"Gov. Andrew Cuomo issued an executive order [April 12, 2012,] to establish a statewide health insurance exchange intended to reduce coverage costs for individuals, small businesses and local governments." (The Wall Street Journal)

IRS Audits: Complying with All of the Requirements under COBRA
"By recently posting updated standards for COBRA audits on its website, the IRS may be indicating that an audit initiative is under way relating to COBRA continuation coverage requirements. If so, such an initiative is likely intended to encourage plan sponsors to self-identify and report COBRA failures and pay the associated excise taxes.... The COBRA audit standards provide a preview of what an IRS auditor will do to determine whether a plan sponsor has complied with the COBRA continuation coverage requirements, including documents that will be requested and questions that may be asked." (Thompson Hine)

California Moves Closer to Setting Health Insurance Standards
"State lawmakers this week moved toward establishing a minimum standard of coverage that all individual and small-group health insurance policies will have to provide after federal health-care reform takes effect in 2014." (Ventura County Star)

States Seek To Limit Co-Pays for Costly Drugs
"[Lawmakers in at least 20 states] have introduced bills that would limit out-of-pocket payments by consumers for expensive drugs used to treat diseases like cancer, rheumatoid arthritis, multiple sclerosis and inherited disorders. Pharma.ceutical companies would also benefit from such legislation because high co-payments discourage patients from taking their medicines." (The New York Times; free registration required)

Health Insurance Cost Growth Outpaces Everything Else
"But the rate of increase was less than 10 percent for the first time since 2001." (Kaiser Health News)

Text of CBO and JCT's Estimates of Effects of Affordable Care Act on Number of People Obtaining Employment-Based Health Insurance
NOTE: On March 23, 2012, minor revisions were made on pages 2 and 11 (see footnote 21). (Congressional Budget Office / Joint Committee on Taxation)

[Opinion]
Looking Ahead to Changes in the American Health Care Industry
"The question of government mandated commerce has captured much of the limelight when people discuss the Affordable Care Act. But the roots of the change that will result from this legislation will spread well beyond this point. A recent news story concerning Nine Medical Societies questioning the appropriateness of certain procedures should focus all users of our healthcare system ... on the need to better understand how we spend our healthcare dollars." (WGA InsureBlog)

[Opinion]
Waiting for Final Mental Health Parity Regs
"The final rule that would provide clarity to the millions who have a mental illness or substance-use disorder, and to their employers, has not been issued. This has created uncertainty and confusion for employers over what they must cover and when parity applies." (The Washington Post; free registration required)

[Opinion]
Health Care Reform Implementation: The Colorado Example
"With less than two years to go before the Affordable Care Act is fully implemented, the State of Colorado is reasonably well positioned.... Adopting a 'Colorado-specific' version of health reform has been critical for state policymakers in responding to the ACA, and was a key factor in the successful passage of exchange legislation. Strong leadership, bipartisan political support, and continued aggressive action will be needed for Colorado to succeed in implementing reform on time." (Urban Institute)

Benefits in General; Executive Compensation

[Guidance Overview]
EEOC Final Regs on Reasonable Factors Other than Age May Have Broad Impact on Employer Policies/Practices
"In light of these new regulations, employers should anticipate that employment decisions that are alleged to have an adverse impact on older employees will be challenged. Hence, in order to prepare for and rebut the inevitable litigation that is sure to follow, prudence dictates that employers consider the [steps listed in this article] now[.]" (Precept)

China's New Foreign Exchange Control Rule on Equity Incentive Plans for Employees in Chinese Affiliates
"New requirements for foreign exchange registration of equity incentive plans are now in effect. Overseas-listed companies that grant equity awards to employees of their Chinese affiliates should review their registration status and periodic filing schedules to make sure they are in compliance, especially in view of the new, shorter deadline for filing quarterly reports and the need to file amendments." (Pillsbury)

EEOC Muddles the Reasonable-Factors-Other-Than-Age Defense to Disparate Impact Age Bias Claims
"Employers should consider how the EEOC and plaintiffs will use the revised regulations to attack employer policies that may be considered to have an adverse impact on older workers. In light of the five relevant 'considerations' identified by the EEOC, if your company is sued for disparate impact age discrimination under the ADEA, you can anticipate that your executives will be questioned by the EEOC and/or private counsel." (Paul Hastings LLP)

Press Releases



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