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Kodak and Official Committee of Retirees Agree on Modification of U.S. Retiree Health Care and Survivor Benefits
"In satisfaction of the company's $1.2 billion OPEB liability, Kodak will provide the 1114 Committee with a $7.5 million cash payment to support initial administration and benefit obligations, a $635 million unsecured claim, and a $15 million allowed administrative claim that would have priority status in Kodak's reorganization proceedings. These funds can be used at the 1114 Committee's discretion to make payments to retirees to subsidize a limited portion of future benefit costs."
(HeraldOnline.com)
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Some Employers Offer Aid to Retirees After Cutting Their Health Insurance
"In the past 20 years, the number of companies that provide retiree health coverage has dropped dramatically, leaving seniors with the difficult task of choosing among a variety of plans to supplement their Medicare benefits.... [Some employers] are contracting with companies that operate insurance marketplaces, called exchanges, where Medicare-eligible retirees can enroll in plans to replace what they used to get from the employer.... Many employers ... fund at least part of the coverage by making deposits for their retirees into accounts called health reimbursement arrangements, or HRAs."
(The Washington Post; free registration required)
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Local Governments Take Budget Knife to Retiree Health Plans
"A growing number of states and cities are eliminating or reducing health coverage for retirees, a benefit that has long fallen by the wayside for most private-sector workers.... The trend could leave millions of public workers with thousands of dollars in unanticipated healthcare costs."
(The New York Times; free registration required)
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Engaging Employers on Paying for Health Care That's Proven to Work
"This brief presents findings on employers' familiarity with -- and reactions to -- concepts related to paying for care based on demonstrated achievement on quality. The focus groups identified potential barriers to employers' involvement and the information and messaging that would facilitate their participation in payment initiatives."
(Robert Wood Johnson Foundation)
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Health Care Reforms in the USA and England: Areas for Useful Learning
"Two landmark health reform bills recently passed in the United States and England have similarities in their approaches to financing, organizational structure, and information technology -- enabling policymakers in both countries to compare the results of one another's efforts and extract lessons."
(The Commonwealth Fund)
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Deloitte Health Care Reform Memo, October 15, 2012
Articles in this issue include: Study finds ACO savings limited; Health insurers show little interest in providing coverage across state lines; Comparative effectiveness research doesn't always translate to better outcomes for patients; Health reform polling roundup: public split on changes to Medicare; HHS OIG says CMS not protecting Medicare enrollee personal health information optimally; MedPAC says 25 percent of Medicare admissions preventable; State round-up.
(Deloitte)
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[Opinion]
Common Critiques and Myths About Health Reform
"First is an infographic slide show from the Heritage Foundation.... [which] portrays the federal health law critically but the material is presented in a way that's quite useful ... The second graphic [is] a one-page chart.... from the Deloitte Center for Health solutions and it identifies 'The top ten myths about the health care reform debate.'" [Ed. note: article includes links to these two graphics including an analysis of their findings.]
(Association of Health Care Journalists)
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Benefits in General; Executive Compensation
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ISS Policy Survey Previews Potential Changes in ISS Proxy Voting Policies for 2013 (PDF)
"Each year, ISS seeks feedback on emerging corporate governance, executive compensation and other issues as part of its annual policy formulation process.... [This article reports] the key findings of this year's survey.... Investors and issuers in North America and Europe agree that executive compensation is the most important governance topic for the coming year.... [N]early 75% of issuers expressed the view that ISS should use the issuer's proxy-disclosed peer group in the Pay-for-Performance Test ... [A]pproximately 67% of investors believe in a combined approach where ISS continues to develop its own peer group and provides the company's peer group as an alternative view[.]"
(Meridian Compensation Partners, LLC)
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Compensation for Corporate Directors Rose in 2011
"[C]ompensation for board members of S&P 500 companies shows pay increased by 8% in 2011 driven by increased board retainers and equity awards. For baseline board service -- duties and responsibilities common to directors regardless of service on committees or in other roles -- annual cash retainers rose 15% to a median $75,000 and equity compensation increased 10% to a median $131,900."
(Mercer)
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Eighth Circuit Rejects 401(k) Participant's Claim Under ERISA's Anti-Retaliation Rule
"[The 8th Circuit Court of Appeals] found [the participant's] claim under ERISA Section 510 -- which bars retaliation against participants for exercising rights under an employee benefit plan or ERISA -- wasn't supported by the facts. As a result, the court said, it needn't address the larger question of whether informal complaints are covered by Section 510. The circuit courts are split on that issue." [Shrable v. Eaton Corp. (8th Cir. Oct. 3, 2012)]
(Mercer)
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Time to Prepare for 2013
"Some of the issues you may need to address before the end of 2012 include: Health Care Reform.... Determination Letter Filings.... Qualified Retirement Plan Amendments.... Corrections of Certain Deferred Compensation.... Evaluate Retirement Plan Service Provider Fee Disclosures.... Regular Annual Notices."
(Holland & Hart)
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Press Releases
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