BenefitsLink
Health & Welfare Plans
Newsletter
May 20, 2008
Here are the Web's best new links about compliance and cost
aspects of plan operation, design and policy.
Today's sponsor is International Foundation of Employee Benefit Plans
(Click on company name or banner to learn more.)
You don't need a navy suit to get ahead at your job. Put on those fuzzy slippers, grab your computer mouse and learn with the International Foundation. The International Foundation?s e-learning courses provide the highest quality education covering all employee benefit topics, from the basics to compliance technicalities. Prove you know your stuff and get to the next level with the International Foundation?s e-learning courses. And bring your pink bunny slippers along for the ride.
[Guidance Overview] Washington State Expands Employee Leave Entitlements (PDF)
3 pages. Excerpt: "Governor Christine Gregoire recently signed into law legislation that requires Washington employers to provide two new types of job-protected leave for their employees. The new Military Family Leave Act guarantees eligible employees leave to spend with their military spouses before or during deployment. A separate law allows victims of domestic violence, se.xual assault or stalking and their family members reasonable leave from work for legal or law enforcement assistance, medical treatment or counseling." (Buck Consultants)
Presidential Candidates Respond to American Medical Association Questions About Their Health Care Reform Proposals (PDF)
10 pages; responses from Clinton, McCain and Obama. Excerpt: "How would your Administration address rising health care costs? . . . How many Americans would have health care coverage under total costs and sources of financing for your proposal? . . . What are the roles and responsibilities of individuals, employers, or other relevant stakeholders under your proposal? . . . What, if any, provisions are included in your proposal for changing the health insurance market, and how would they improve the market, especially for people with predictably high medical costs?" (American Medical Association)
Fact Sheet on Massachusetts Health Care Reform: Two Years Later
Excerpt: "This fact sheet provides a progress report two years since Massachusetts enacted landmark legislation to provide health care coverage to nearly all state residents." (Kaiser Family Foundation)
Congressional Hearing Raises Concerns About Health Savings Accounts
Excerpt: "In general terms, the discussion at the hearing was consistent with the current political landscape for HSAs. Republicans support them as a way to make consumers more cost conscious and as a way to cut the connection between health insurance and employment, while Democrats oppose them because they do not believe that they will bring down health care costs and believe that they are another 'savings gimmick' for the rich." (Groom Law Group)
Companies Help Employees Deal With Fuel Costs
Excerpt: "Companies are launching a variety of relief initiatives such as providing alternate ways to get to work -- including purchasing buses and vans to give employees free rides -- and changing corporate policies to accommodate workers who travel for their jobs. (The Wall Street Journal)
Google Health Launches to Questions About Privacy
Excerpt: "Google has formally launched its Google Health effort to allow patients access their personal health records no matter where they are, from any computing device, through a secure portal hosted by Google." (eWeek)
Sponsored by: ALM
(Click on company name or banner to learn more.)
The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field. Get legal and practical advice from leading experts on everything from COBRA to ERISA, "contingent" employees to family and medical leave, and more. Browse our product listings for detailed information and special offers.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Links to Items on Executive Comp, Benefits in General
[Guidance Overview] FASB Proposes Additional Asset Disclosures for Pension Plans (PDF)
Excerpt: "The Financial Accounting Standards Board (FASB) has issued a proposed staff position requiring sponsors of defined benefit pension plans and other postretirement benefit plans (OPEBs) to disclose additional information about the plan's invested assets. The additional disclosures would be required for fiscal years ending after December 15, 2008, with prospective application only." (Buck Consultants)
[Guidance Overview] House Ways And Means Approves Tax Extenders Bill, Includes Nonqualified Deferred Compensation Tax
Excerpt: "The cost of the bill would be primarily offset by a proposed tax on deferred compensation payable by certain offshore entities. Under this revenue-raising provision, hedge fund managers would be prevented from deferring taxes on compensation paid through offshore tax shelters." (Hewitt Associates)
The Nation's Long-Term Fiscal Outlook Is Unsustainable, Government Report Says; Health Care Cost Growth and Demographic Trends Are Biggest Problems (PDF)
14 pages. Excerpt: "Our updated simulations continue to illustrate that the long-term fiscal outlook is unsustainable. Despite some improvement in the long-term outlook for federal health and retirement spending, the federal government still faces large and growing structural deficits driven primarily by rising health care costs and known demographic trends. In fact, the oldest members of the baby boom generation are now eligible for Social Security retirement benefits and will be eligible for Medicare benefits in less than 3 years." (Government Accountability Office)
Text of Society of Actuaries Survey Report Addressing Longevity Risks
Excerpt: "The Society of Actuaries' recent Risks and Retirement Survey Report identifies and offers approaches to help employers and employees manage today's retirement risks. These risks include outliving one's assets, loss of spouse, decline in functional status and healthcare and medical expenses. In addition, the SOA is leading future retirement research by releasing a series of retirement survey reports. " (Society of Actuaries)
Americans Worry About Funding a Long Retirement
Excerpt: "Americans appear to be underestimating the financial impact of the death of a spouse. About 60 percent of those responding to the survey felt there would be little impact when a spouse dies, but [Anna M. Rappaport, a consulting actuary based in Chicago and supervisor of the biennial report,] said that surviving spouses often experience significant drops in income and benefit coverage, especially women." (New York Times)
Q and A: Same-Sex Marriages in California
Excerpt: "Q: Will people in domestic partnerships automatically convert to marriage? A: No. There is no provision in the ruling to automatically convert domestic partners to marriage. Q: Do I have to dissolve a domestic partnership to get married? A: No. California permits an individual to be in a domestic partnership and be married, as long as it is to the same person." (Los Angeles Times)
Federal Government's Long-Term Liabilities Total $57.3 Trillion
Excerpt: "The federal government's financial obligation to cover the lifetime benefits of people eligible for government programs increased by $2.5 trillion last year to $57.3 trillion, largely due to rising Medicare obligations" (KaiserNetwork.org)
Newly Posted Events
Fundamentals of 401(k) and Other Qualified Plans
in Texas on June 11, 2008
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Georgia on June 18, 2008
presented by SunGard Relius
Fundamentals of 401(k) and Other Qualified Plans
in Massachusetts on June 18, 2008
presented by SunGard Relius
The Medical Home: The New Primary Care Model - Implications for Provider Networks, Health Plans and Hospitals
in California on June 26, 2008
presented by Healthcare Web Summit
Voluntary Fiduciary Correction Program Workshop
in Georgia on June 18, 2008
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Newly Posted Press Releases
ASPPA and COPA Announce Intention to Join Forces in 2008
ASPPA (American Society of Pension Professionals & Actuaries)
Inflation Ranks as Today's Top Retirement Concern
Society of Actuaries
U.S. Labor Department Obtains Court Judgment Barring Maryland Company and Owner from Service to Employee Benefit Plans
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Health Reform, The 2008 Election, And The "Triple Aim" Of Improved Care, Health And Cost Control
Health Affairs
Inspira Launches Full-Service IRA Outsourcing Solution
Inspira
AST Encourages Employers to Adopt Paid Leave Policies for Living Organ Donors via Awareness Campaign Effort
American Society of Transplantation (AST)
Enwisen Sells Broker Suite to PlanSource
PlanSource
Newly Posted or Renewed Job Openings
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)Client Relationship Manager
for PensionTrend, Inc
in MI
Manager of Marketing and Advisor Support
for CDM Retirement Consultants, Inc.
in MD
ERISA Attorney
for Kraw & Kraw
in CA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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