Health & Welfare Plans Newsletter

June 10, 2015

BenefitsLink.com logo EmployeeBenefitsJobs.com logo LinkedIn logo Twitter logo Facebook logo
Get Retirement News  |  Advertise  |  Previous Issues  |  Search

Employee Benefits Jobs

Daily Valuation Specialist
Howard Simon & Associates
in IL

Retirement Plan Specialist
Alliance Benefit Group of Houston, Inc. [ABG]
in ANY STATE

Account Manager
Pentegra Retirement Services
in OH

Internal Wholesaler - Worksite
MassMutual Financial Group
in CT

Client Relationship Manager
MassMutual Financial Group
in MI

Benefits Administrator
DailyAccess
in TX

Pension Actuary - Defined Benefit
MassMutual Financial Group
in CT

Compensation & Benefits Manager
Promise Healthcare, Inc.
in FL

Retirement Plan Business Development Officer
Chemical Bank
in MI

Sr. ERISA Consultant
John Hancock Retirement Plan Services
in MA

Distributions Manager
Nova 401(k) Associates
in TX

Defined Contribution Account Manager
Nova 401(k) Associates
in ANY STATE

Team Leader/Consultant
Nova 401(k) Associates
in ANY STATE

401(k) Plan Administrator
The Ryding Company
in CA

Post Your Job

View All Jobs

RSS feed for jobs RSS Feed: All Jobs


Webcasts and Conferences

East Meets West - California's New Sick Leave Law for East Coast Employers
June 11, 2015 WEBCAST
(Ogletree Deakins)

Voluntary Fiduciary Correction Program Workshop
June 18, 2015 WEBCAST
(Employee Benefits Security Administration [EBSA], U.S. Department of Labor)

How to Do It Right the First Time Compliance: Informational & Outreach Forum
June 19, 2015 in MA
(Employee Benefits Security Administration [EBSA], U.S. Department of Labor)

What Plan Sponsors Should Think About Now
June 30, 2015 in GA
(JMM CPA)

Just for ERPAs Workshop
September 1, 2015 in IL
(SunGard Relius)

Advanced Pension Conference - Chicago 2015
September 2, 2015 in IL
(SunGard Relius)

2019 Enrolled Actuaries Meeting
April 7, 2019 in DC
(Conference of Consulting Actuaries)

View All Webcasts and Conferences



[Guidance Overview]

Prepare Now or Be Sorry Later: The 2016 ACA Reporting Requirements
"The information needed to complete these forms includes whether the employee and dependents were offered coverage, the cost of coverage, and identifying information not only for the employee, but also for his or her dependents (Social Security number, or date of birth if the dependents' Social Security number cannot be obtained). The information must be captured and reported for each month of the calendar year." (BakerHostetler)  


[Advert.]

Earn a Certificate in Chicago This Summer!

Sponsored by International Foundation of Employee Benefit Plans [IFEBP]

Attend one of two certificates offered in Chicago this July. The Certificate in Health and Welfare Plans and the NEW Certificate in Strategic Benefits Management. Take a single course or take all three courses to earn a Certificate. Register Now!



[Guidance Overview]

Student Employees and the ACA, Part 3 of 4: Can We Subsidize Student Health Insurance?
"[W]hat if a graduate student's financial aid package includes loans, scholarships, a paid graduate assistantship, and a subsidy to help pay the student health insurance premiums? In this case, the student is both an employee (by virtue of the paid graduate assistantship) and a student. Can the university take the position that the health care subsidy is being provided to the student in his capacity as a student, and is therefore not prohibited by the IRS and DOL? We would welcome additional guidance from the IRS and DOL on this issue.... [A]n award of taxable, unrestricted cash is clearly permitted and a safe solution." (Mintz Levin)  

[Guidance Overview]

DOL Releases New FMLA Forms
"[T]he DOL declined to incorporate the GINA safe harbor language. Instead, the DOL adopted a watered-down version ... that may not provide much direction to healthcare providers.... [E]mployers should consider modifying the DOL's forms to include it in order to minimize GINA liability." (Ballard Spahr LLP)  

NLRB Upholds Unilateral Changes in Negotiated Employee Benefits
"Under the NLRB's decision in American Electric Power, it appears that the employer will not need to prove that its interpretation of the agreement was correct; it will only need to prove that there was a 'sound arguable basis' for that interpretation. In addition, it appears that the employer will not need to prove that the union has waived its right to bargain over the change." [American Electric Power, 362 NLRB No. 92 (May 28, 2015); Bay Area Healthcare Group dba Corpus Christi Medical Center, 362 NLRB No. 94 (May 27, 2015)] (Littler)  

State Decisions on Allowing Mid-Sized Employers to Delay a Move to the Small-Group Insurance Market
"To date, 34 states have issued guidance allowing mid-sized employers to remain in the large-group market for up to two years. Of these, Delaware, Rhode Island, and Washington, D.C., do not permit the renewal of noncompliant plans in the individual and small-group markets but are now allowing mid-sized companies to do so. Not all states will permit transitional relief for mid-sized employers. Nine states -- California, Colorado, Connecticut, Maryland, Minnesota, Nevada, New York, Vermont, and Washington -- continue to prohibit noncompliant policies across all markets, while eight states have not yet provided publicly available guidance to insurers." (The Commonwealth Fund)  

Staples Settles After FMLA Fail
"[The DOL] announced a settlement ... with Staples Inc., with the company agreeing to pay [a] fired employee ... $275,000 in wages, benefits and damages after failing to inform him of job protections to care for his ailing wife.... [T]he company will also promote an enterprise-wide policy for compliance with the FMLA by providing training for human resources and other managerial personnel with respect to FMLA notice and eligibility requirements; post FMLA enforcement posters in the workplace; and investigate and respond to complaints of potential FMLA violations concerning an employee's notice of FMLA rights, including correcting violations when discovered." (HRE Daily)  

Healthcare Exchanges: Are They a Viable Option for Your Organization? (PDF)
"What Is the Difference between Public and Private Exchanges? ... A Private Exchange can offer employers/employees the following advantages ... A Private Exchange may trigger employers/employees the following disadvantages ... Is a Private Exchange Right for You?" (Cowden Associates, Inc.)  

How Do Health Insurer Market Concentration and Bargaining Power with Hospitals Affect Health Insurance Premiums?
"The researchers empirically examine the relationship between employer-sponsored fully-insured health insurance premiums and the level of concentration in local insurer and hospital markets ... Their study results show that that premiums are indeed higher for plans sold in markets with higher levels of concentration relevant to insurer transactions with employers, lower for plans in markets with higher levels of insurer concentration relevant to insurer bargaining with hospitals, and higher for plans in markets with higher levels of hospital market concentration." (Robert Wood Johnson Foundation)  

The Inevitability of Health Insurance Consolidation
"Horizontal consolidation can bring administrative and efficiency benefits in the near-term, although ... some 50-60 percent of such deals end up without the 'synergies' initially envisioned.... [V]ertical deals include the more radical insurer-provider integration, as in Highmark taking over the West Penn hospital system ... and UnitedHealth Group's investment in a giant retail clinic network. Many insurers, though, are wary of becoming direct care providers ... Insurers are definitely more cautious about making that leap than health systems who are launching their own health plans." (Healthcare Payer News)  

Medical Tourism -- Not Just Cheap Dental Care in Costa Rica
"While savings is the main driver for setting up medical tourism programs, safety and service must be the primary consideration for engaging these services. Choosing appropriate procedures to cover, using accredited and acceptable facilities, and ensuring follow-up care are just some of the things to consider. The top medical tourism facilitators work with Joint Commission International -accredited providers to ensure quality of care, and coordinate with the patient's insurance and US-based providers for a seamless transition." (Marsh Consulting Group)  

Health Plans: A Guide to Leveraging Trends in the Post-Reform Consumer Marketplace (PDF)
16 pages. "Over the last 15 years many health plans have done B-to-B and B-to-C marketing ever since consumers started purchasing insurance online. But healthcare reform has catapulted these end-users to the forefront, and health plans are now talking directly to them, even when a broker or employer is part of the equation. That means they're putting more energy into health literacy initiatives ... and exploring new ways to attract and educate the large number of uninsured people seeking coverage[.]" (Healthcare Trends Institute)  

Employer Costs for Employee Compensation, March 2015
"The average cost for health insurance benefits was $2.43 per hour worked in private industry (7.7 percent of total compensation) in March 2015. Among occupational groups, employer costs for health insurance benefits ranged from 89 cents per hour worked and 6.1 percent of total compensation for service workers, to $3.71 and 6.6 percent of total compensation for management, professional, and related occupations.... Employer costs for health insurance benefits were significantly higher for union workers, averaging $5.65 per hour worked (12.1 percent of total compensation), than for nonunion workers, averaging $2.11 (7.0 percent)." (U.S. Bureau of Labor Statistics [BLS])  

Benefits in General; Executive Compensation

SEC Proposes Pay Versus Performance Disclosures (PDF)
"Currently companies are not required to disclose the value of options or stock appreciation rights (SARs) as of the vesting date, but they do have to disclose the value of stock awards (including restricted stock) as of the vesting date in the proxy statement's ... While stock award values will not require additional calculations, companies will now be required to compute the value of vested but unexercised options on a fair value basis for this disclosure." (Buck Consultants at Xerox)  

FASB Proposes to Simplify Accounting for Share-Based Payments
"The proposed amendments are aimed at reducing the cost and complexity of accounting for share-based payments. However, they may result in significant changes to net income and earnings per share, including the effect of the exclusion of windfall tax benefits from the hypothetical proceeds used to repurchase shares under the treasury stock method. Additionally, there may be administrative and other challenges (such as systems, processes, and controls) to implement the proposed standard for companies with significant share-based payment activities." (PricewaterhouseCoopers)  

Press Releases

Connect   LinkedIn logo   Twitter logo   Facebook logo

Additional useful links:

BenefitsLink.com, Inc.
1298 Minnesota Avenue, Suite H
Winter Park, Florida 32789
Phone (407) 644-4146
Fax (407) 644-2151

Lois Baker, J.D., President
David Rhett Baker, J.D., Editor and Publisher
Holly Horton, Business Manager

Copyright 2015 BenefitsLink.com, Inc. — but feel free to forward this newsletter without further permission from us, if you do not modify the newsletter in any way (including this lower portion).

All materials contained in this newsletter are protected by United States copyright law and may not be reproduced, distributed, transmitted, displayed, published or broadcast without the prior written permission of BenefitsLink.com, Inc., or in the case of third party materials, the owner of that content. You may not alter or remove any trademark, copyright or other notice from copies of the content.

Links to websites other than those owned by BenefitsLink.com, Inc. are offered as a service to readers. The editorial staff of BenefitsLink.com, Inc. was not involved in their production and is not responsible for their content.

We are proud of our Privacy Policy.

Thanks for reading this newsletter!