Employee Benefits Jobs
Compliance Testing Specialist
Kravitz, Inc. in ANY STATE
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Transamerica Retirement Solutions in AR, CA, FL, GA, HI, IL, MI, MO, NJ, NY, TN, TX, UT
Employee Benefits Attorney
Wiggin and Dana LLP in CT, NY
Director, Compensation and Benefits -- Fortune 500 Division
Masco Contractor Services in FL
Retirement Plan Consultant
Higginbotham [MBG Retirement, Inc.] in TX
DC Account Manager/Compliance Analyst
Pentegra Retirement Services in NC, NY, OH, SC
Benefits Administrator
DailyAccess a Verisight Company in TX
Client Services Specialist
ACCG - GEBCorp in GA
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Webcasts and Conferences
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[Guidance Overview]
IRS Provides Additional Guidance on Premium Reimbursement Arrangements (PDF)
"While Revenue Ruling 61-146 permits employers to pay or reimburse properly substantiated premiums paid for hospital and medical insurance on a tax-free basis, it should not be read as providing any direction about compliance with the ACA's market reforms. The principles of Revenue Ruling 61-146 could still be useful for situations where ACA rules do not apply. For example, an employer could reimburse premiums paid for retiree only coverage and excepted benefits, such as a specified disease policy, a hospital indemnity plan or a stand-alone dental or vision plan."
(Buck Consultants at Xerox)
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Text of Ninth Circuit Opinion Finding Explicit Trust Not Required for Assets of Welfare Benefit Plan (PDF)
"[We] conclude that under 29 U.S.C. Section 1103(a), a person (legal or natural) must hold legal title to the assets of an employee benefit plan with the intent to deal with these assets solely for the benefit of the members of that plan.... Neither [the employee] nor the Department of Labor (as amicus curiae) offers an alternative definition of these terms. Rather, they argue, in effect, that compliance with Section 1103(a) requires a party to record its responsibilities with respect to the assets of an employee benefit plan in a document that is entitled 'trust instrument,' uses the terms 'trust' and 'trustee,' and expressly states that the party is holding the assets 'in trust.' Further, the Department appears to interpret its regulation ... as requiring parties to use express words of trust to comply with Section 1103(a). We reject this argument." [Barboza v. Cal. Ass'n. of
Prof. Firefighters, No. 11-15472 (9th Cir. Apr. 7, 2015)]
(U.S. Court of Appeals for the Ninth Circuit)
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The Coming Revolution in How Employers Provide Health Insurance
"About 6 million Americans with workplace coverage in 2014 received their health insurance through privately run health insurance exchanges, where employees can select coverage from a number of health plans -- double the number from the year before ... [In] the exchanges, the employer essentially outsources the work, and employees generally have a much greater choice of health insurance options. By pooling more workers together, the plans can have lower insurance rates[.]"
(The Washington Post; subscription may be required)
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State-Based Exchanges Saw Higher Attrition from 2014 to 2015 Than Federally-Facilitated Exchanges
"Federally-facilitated exchange states reenrolled 78 percent of their 2014 enrollees in 2015, on average. In state-run exchange states, that percentage drops to 69 percent of 2014 enrollees. California, the state with the highest enrollment in 2014, only retained 65 percent of their 2014 enrollees. It is unclear why state-based exchanges saw higher year-over-year attrition among their enrollees. One possibility is that state exchanges had more enrollees who over-reported income in 2014."
(Avalere Health)
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Nevada Legislature Seeks to Ban State's Health Insurance Exchange
"If the bills are successful, Nevada residents would still be able to get health insurance, but it would be through the federal insurance exchange healthcare.gov. Critics of the exchange and other supporters of the bill say the system is an initiative that steps on states' rights, and that premiums have increased since the health care law was enacted."
(Nevada Public Radio)
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House Subcommittee to Hold Hearing on ACA Individual and Employer Mandates
"Congressman Kevin Brady (R-TX), Chairman of the Subcommittee on Health, today announced that the Subcommittee will hold a hearing on the individual and employer mandates and associated penalties in the President's health care law. The hearing will take place ... on Tuesday, April 14, 2015[.]"
(Committee on Ways and Means, U.S. House of Representatives)
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Individual Open Enrollment: What's the New Normal?
"While there are still many unknowns about the individual insurance market, insurance marketers can agree on some key realities: there isn't a 'normal market' yet and clear consumer trends have not evolved. The good news is two years of experience brings a wealth of data and learning to inform future decisions. At the same time, it brings increased complexity and challenges to understand how best to prioritize the investment of limited marketing dollars."
(Healthcare Payer News)
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[Opinion]
Why Americans Need to Stop Getting Health Care Through Their Employers
"Customers are no longer shopping for health care directly. They're shopping for insurance, and the insurers are shopping for health care. In particular, insurers profit by taking in more revenue from premiums than they spend on health care for their customers.... What does employer-provided coverage have to do with all this? It introduces another middle-man. Workers negotiate with employers, then employers shop for insurance, then insurers shop for care."
(The Week)
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Benefits in General; Executive Compensation
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[Guidance Overview]
Ensure Compliance with Final Regs on Equity Awards
"[P]ublic companies should review their plans to determine whether they clearly set forth the applicable individual maximum number of shares.... Newly public companies should evaluate their equity plans to make sure that the transition rule is not claimed for restricted stock units or phantom stock unless actual payment is made before the end of the Reliance Period."
(Bradley Arant Boult Cummings LLP)
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Tenth Circuit Rules That Fraudulent Concealment Not Required to Toll General Limitations Period for Fiduciary Breach Claims
"The core dispute was whether the 'fraud or concealment' exception to the general limitations period requires proof of concealment by the fiduciary, or applies in all cases of alleged fraudulent breach.... [T]he Second Circuit has refused to 'fus[e] the phrase 'fraud or concealment' into the single term 'fraudulent concealment.' It therefore applies the exception when a breach claim is based on fraud or there is proof of fiduciary concealment. Here, the Tenth Circuit adopted the Second Circuit's interpretation ... [reasoning] that its interpretation remedies 'what would otherwise be a harsh result in situations where a fiduciary has engaged in prohibited conduct that cannot readily be discovered.' " [Fulghum v. Embarq Corp., No. 13-3230
(10th Cir. Feb. 24, 2015)]
(Seyfarth Shaw LLP)
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