Conversion Specialist
Fringe Benefits Design, Inc.
in MN

Retirement Plan Administrator
Benefit Administration Company, LLC
in WA

Retirement Plan Administrator
WLR & Associates, Inc.
in NC

Defined Benefit Plan Administrator
American National Insurance Company
in TX

Plan Design Specialist
American National Insurance Company
in TX

Retirement Plan Administrator
PenSys, Inc.
in CA, NC

Account Executive
Gallagher Benefit Services, Inc.
in AR

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2014 Second Quarter Update
May 13, 2014 WEBCAST
(McKay Hochman Co., Inc.)

International Compensation Event
May 15, 2014 in PA
(PEBA [Penjerdel Employee Benefits and Compensation Association])

Tax Forms Workshop: 5500 and More - Kansas City
May 30, 2014 in KS
(SunGard Relius)

401(k) Plan Workshop 2014 - Knoxville
May 30, 2014 in TN
(SunGard Relius)

View All Webcasts and Conferences

[Official Guidance]

FAQs from DOL about Affordable Care Act Implementation, Part XIX
"With respect to the annual out-of-pocket maximum, how should large group market coverage and self-insured group health plans treat an individual's out-of-pocket costs for a brand name prescription drug, in circumstances in which a generic was available and medically appropriate? ... If large group market coverage or self-insured group health plan has a reference-based pricing structure, under which the plan pays a fixed amount for a particular procedure (for example, a knee replacement), which certain providers will accept as payment in full, how does the out-of-pocket limitation apply when an individual uses a provider that does not accept that amount as payment in full? ... What are plans and issuers expected to provide as preventive coverage for tobacco cessation interventions? ... How is a permissible carryover amount for a health FSA taken into account with regards to the maximum benefits payable limit for health FSAs under the excepted benefit regulations? ... What templates should plans and issuers use for the SBCs and the uniform glossary required to be provided after the second year of applicability? ... Certain specific safe harbors and other enforcement relief were provided by the Departments related to the requirement to provide an SBC and a uniform glossary for the first and second years of applicability. Will this relief be extended?" (U.S. Department of Labor, U.S. Department of Health and Human Services, and U.S.Department of the Treasury)  

[Advert.]

What Employers Need to Know About the Pay or Play Mandate in 2014

Enroll in this May 14 live webinar to learn the latest in employer reporting requirements and tweaks to regulations and transition rules on the "Pay or Play" Employer Mandate under the ACA. Special BenefitsLink discount.

[Official Guidance]

Text of DOL Proposed Regs Amending Notice Requirements Pertaining to Health Care Continuation Coverage (COBRA)
"These proposed regulations contain amendments to notice requirements of the COBRA provisions of Part 6 of title I of ERISA to better align the provision of guidance under the COBRA notice requirements with the [ACA] provisions already in effect, as well as provide valuable flexibility to respond to provisions of federal law that will become applicable in the future. The proposed amendment will eliminate the current version of the model general notice ... and the model election notice contained in the appendix ... as these model notices are outdated.... Contemporaneous with issuance of these proposed regulations, the Department is also issuing updated versions of the model general notice and model election notice, as well as guidance announcing the availability of such updated notices. These updated notices reflect that coverage is now available in the Marketplace and the updated model election ... The updated model notices are available in modifiable, electronic form on the Department's website ... As with the earlier models, in order to use these model notices properly, the plan administrator must complete them by filling in the blanks with the appropriate plan information. Until rulemaking is finalized and effective, the [DOL] will consider use of the model notices available on its website, appropriately completed, to be good faith compliance with the notice content requirements of COBRA." (Employee Benefits Security Administration [EBSA], U.S. Department of Labor)  

[Official Guidance]

Model COBRA Election Notice (for Use by Single-Employer Group Health Plans), Updated May 2, 2014 (MS Word Doc)
Modifiable, electronic form for election of COBRA coverage. Includes a statement that "Continuation coverage will be terminated before the end of the maximum period if ... a qualified beneficiary becomes covered, after electing continuation coverage, under another group health plan that does not impose any pre-existing condition exclusion for a pre-existing condition of the qualified beneficiary (note: there are limitations on plans' imposing a preexisting condition exclusion and such exclusions will become prohibited beginning in 2014 under the Affordable Care Act)[.]" (Employee Benefits Security Administration [EBSA], U.S. Department of Labor)  

[Official Guidance]

Model General Notice of COBRA Continuation Coverage Rights (for Use by Single-Employer Group Health Plans), Updated May 2, 2014 (MS Word Doc)
Modifiable, electronic form for general notice of COBRA availability. [OMB Control Number 1210-0123 (expires 10/31/2016).] (Employee Benefits Security Administration [EBSA], U.S. Department of Labor)  

[Official Guidance]

Text of CMS Notice of Special Enrollment Periods and Hardship Exemptions for Persons Meeting Certain Criteria (PDF)
Unnumbered document, dated May 2, 2014. Excerpt: "HHS recognizes that individuals who obtained other forms of [minimum essential coverage (MEC)] effective as of May 1, 2014 outside of the Marketplace (including individual or group plans) are, to a large extent, similarly situated to those who purchased QHPs through the Marketplace with a May 1, 2014 effective date. Accordingly, HHS will extend a comparable hardship exemption for all months prior to the effective date of coverage for those individuals who obtained MEC effective on or before May 1, 2014 outside of the Marketplace.... [P]ersons eligible for COBRA and COBRA beneficiaries may have had insufficient information to understand they only can enroll in QHPs in the Marketplace during the open enrollment period and special enrollment periods ... HHS is providing an additional special enrollment period based on exceptional circumstances so that persons eligible for COBRA and COBRA beneficiaries are able to select QHPs in the FFM .... [C]onsumers may have reasonably expected to have an option not to renew non-calendar year individual market policies and to receive a special enrollment period in the FFM outside of the open enrollment period.... HHS will provide special enrollment periods consistent with 45 CFR 147.104(b)(2)." (Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services)  

[Advert.]

BenefitsLink app for iPad, iPhone and iPod touch now available!

Stay up-to-date while you're on the go with the BenefitsLink App -- now available for iPad, iPhone 5, and iPod touch.

Is the Sixth Circuit Handcuffing Employers with Retiree Health Benefits?
"[In] the last significant Sixth Circuit decision on this topic, Reese v. CNH America LLC, the Court ... concluded that the employer could unilaterally modify a retiree health plan, provided that the modifications were reasonable. That decision seemed to put the Sixth Circuit more in line with other circuits that had ruled on these issues, and gave employers some relief. But it appears that relief was short-lived.... But does this [new] decision mean that if the company maintains a defined contribution private exchange, it must maintain a standalone insured plan for this group of retirees?... This brings us back to the question: do retirees really want 2006 health care?" [United Steel Workers v. Kelsey-Hayes Company, No. 13-1717 (6th Cir. Apr. 22, 2014)] (Porter Wright Morris & Arthur LLP)  

ACA Could Shift Health Care Benefit Responsibility Away From Employers, Potentially Saving S&P 500 Companies $700 Billion (PDF)
"By shifting insurance responsibility to the employee, the ACA presents an opportunity for U.S. companies to radically redefine the role they play in the health care system. Using its proprietary model, S&P Capital IQ Global Market Intelligence estimates that the [ACA] could save S&P 500 companies nearly $700 billion through 2025. These potential savings represent about 4% of the S&P 500's current market capitalization. For U.S. companies with 50 or more employees, total savings to businesses could amount to $3.25 trillion through 2025. According to model estimates, employers are set to benefit the most as the government takes on a larger funding role." (S&P Capital IQ, McGraw Hill Financial)  

Will Employer-Provided Health Insurance Go Away? Don't Bet On It
"In the seven years since Massachusetts enacted its law, the number of people covered by insurance through the workplace increased by about 1 percentage point, running counter to the rest of the nation, which saw employer-based insurance decline by 5.7 percentage points.... [A] gradual shift away from employer-sponsored health insurance has been playing out for some time. But predictions that, within six years, 80 percent or 90 percent of private-sector workers will not have employer coverage are wildly speculative." (CFO)  

The Latest Summary Health Insurance Marketplace Enrollment Report
"Of those determined eligible for financial assistance 6.7 million selected a plan; of those not determined eligible, only 1.2 million did. About 3.6 million of those eligible for financial assistance (and 2 million of those eligible for assistance) did not proceed to select a plan. It is likely that many of those who were found ineligible for financial assistance purchased a plan in the off-exchange individual market, but some likely remained uninsured and others may have found employer coverage." (Timothy Jost in Health Affairs Blog)  

Health Insurance Price Index Report for Open Enrollment and Q1 2014 (PDF)
"Over the [ACA's] full nationwide open enrollment period (October 2013 - March 2014), premiums for individual coverage averaged $271 per month while premiums for family plans averaged $667 per month. Over the same period, the average annual deductible for individual plans was $4,164 and the average deductible for family plans was $7,771. Average premiums for plans selected by consumers in the second half of the open enrollment period (January - March 2014) were 17% lower for individual coverage and 13% lower for family coverage compared to average premiums for 2014 health insurance plans selected by consumers in the first half of the open enrollment period (October - December 2013)." (eHealth)  

Long Train Runnin': All Aboard the Bay Area Commuter Benefits Program
"A Bay Area employer is subject to the Program's mandates if it employs an average of 50 or more full-time employees (defined as an employee who performs an average of at least 30 hours per week, excluding seasonal and temporary employees) within the geographic boundaries of the [Metropolitan Transportation Commission and the Bay Area Air Quality Management District (collectively, the Air District)]. The Air District's published materials make clear that the Program is mandatory for covered employers. Employers must offer the Program to all employees who work at least 20 hours per week within the geographic boundaries of the Air District." (Trucker Huss)  

Summary Enrollment Report for the Initial Annual Open Enrollment Period, Updated May 1, 2014 (PDF)
"Over 8 million people have selected a plan through the Health Insurance Marketplace (SBMs and FFM) through March 31st ... 2.2 million (28 percent) of the people who selected a Marketplace plan during the initial open enrollment period were young adults between the ages of 18 and 34. A total of 2.7 million (34 percent) were between the ages of 0 and 34 ... The number of young adults who selected Marketplace plans doubled during the last month of the initial open enrollment period[.]" [The report is accompanied by Infographic and State-Level Profiles.] (Assistant Secretary for Planning and Evaluation, U.S. Department of Health and Human Services)  

Sixth Circuit Enforces ERISA Penalty Provisions for 'Hiding' Plan Documents
"For plan administrators, 'clear notice' can be a tricky standard to try to sort out. Plan administrators should consider that ERISA clearly favors the production of documents when requested and recognize that a poorly worded request could still be enough of a request to warrant penalties. A simple solution is for administrators to avoid being accused of hiding plan documents. When responding to a request, give them what they ask for, and maybe even more[.]" [Cultrona v. Nationwide Life Ins. Co., Nos. 13-3558/3585 (6th Cir. Apr. 9, 2014)] (Fox Rothschild LLP)  

Ohio District Court Denies Motion to Dismiss Former Part-Time Employee's Health Care Benefits Interference Claim
"[A] part-time pharmacist alleged that he was not promoted to a full-time position because his employer did not want to enroll him in its health plan. [The company] argued that the employee had no standing to bring suit under Section 510 because he was not a participant in the plan.... The court looked to the text of Section 510 ... [and] indicated the 'may become eligible' language means 'a claimant must have a colorable claim that [1] he or she will prevail in a suit for benefits, or [2] eligibility requirements will be fulfilled in the future.'" [Sanders v. Amerimed, No. 1:13-cv-813 (S.D. Ohio Apr. 25, 2014)] (Winston & Strawn LLP)  

Why Employee Benefit Brokers Are Teaming with 401(k) Advisers
"Experts say that the [ACA] mandate, and particularly the availability of coverage for small firms via the so-called SHOP Marketplace, will likely squash profit margins for employee benefits brokers -- the experts to whom employers turn for group life, disability, dental and health benefits. That means employee benefits brokers will turn to other potential revenue streams ... [T]here will likely be more alliances between 401(k) specialists and welfare benefits brokers." (InvestmentNews)  

Advantages to Deferring Income in an Uncertain Tax Environment (PDF)
"This article shows how you should consider recent and future tax rate changes and investment returns when analyzing whether to participate in your company's nonqualified deferred compensation plan (DCP).... The only scenarios favoring the personal investment account are based on the highest wage earners who are willing to settle for a meager 3% pre-tax return and invest their income over a short 10-year period. In all other scenarios, a DCP account provided an advantage -- in terms of the total amount accumulated after taxes are paid -- ranging from a low of 1.75% to 47.75%." (Fulcrum Partners, LLC)  

Executive Compensation Around the World: Recent Developments and Best Practices (PDF)
"The SEC's pay ratio disclosure rules ... may also drive companies to change their rank and file pay practices for a more favorable disclosure -- for instance, giving employees more reportable cash and less unreportable welfare benefits.... Today's [compensation committee] charter will cover the independence of the committee, the fact that they need to think about pay and performance, the pay strategy, pay levels and pay programs, measures of performance, and goal-setting.... The best compensation committees will then take their planning calendar and map it against the charter to make sure everything has been covered by the time they get to the end of the year." (Financier Worldwide, via Orrick)  

California Legislation Would Limit Corporate Income Tax Deductions Where the CEO Pay Ratio Is Too High
"The bill ... would impose a sliding scale for the current corporate income tax rate of 8.84%, fluctuating between 7% (for companies with a CEO pay ratio of 25:1 or less) up to a rate of 13% (for those with a ratio of 400:1 or above). According to a recent Bloomberg survey of the 250 companies with the highest ratios (based on government estimates of median pay), this would subject 47 large companies to the highest (13%) tax rate. And even the company with the lowest CEO pay ratio in this survey group would see its California tax rate increase to 9.5%." (Towers Watson)  

Leading Regional Employee Benefits Firm Purchases Agency In Mount Laurel, New Jersey
Kistler Tiffany Benefits

Cambridge Retirement Center Offerings Expand to Include 401k Study Group
Cambridge Investment Research, Inc.

HealthEquity Surpasses One Million Health Savings Accounts
HealthEquity

Attorney Thomas E. Clark Joins The Lowenbaum Partnership
Lowenbaum Partnership, LLC

David G. Tittsworth Honored by Committee for the Fiduciary Standard
Committee on Education and the Workforce

MullinTBG uses Feedback from Client Satisfaction Program to Create new Plan Sponsor Reporting Center
MullinTBG

Perez v. Aubrey Needham Involving Imprudent Investments Causing Losses to the Ditch Witch Equipment of Tennessee Inc. Profit-Sharing Plan
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

DOL Files Suit Against Pro Systems Corp. Group Health Plan for Failing to Disclose Use of Health Care Fees Charged to its Clients
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Perez v. Samuel McCutchin, et al., Involving Default Judgment of Upper Darby, Pa., Heating Company
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

Perez v. Timothy A. Clark, et. al., Involving 401[k] Plan of Enola, Pa., Medical Practice
Employee Benefits Security Administration [EBSA], U.S. Department of Labor

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