Retirement Account Administrator II
Alerus Financial
in MI, MN, NH

Underwriting Consultant SR
OneAmerica Financial Partners, Inc
in IN, Telecommute

Retirement Account Administrator, Sr.
Alerus Financial
in MI, MN, NH

Retirement Plan Consultant
Chernoff Diamond & Co., LLC
in NY

Trust Compliance Officer
Ascensus
in NV

Retirement Plan Administrator
Ohio Pension Services
in OH

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Benefit Plans in M&A: Transitioning Pension, Savings and Welfare Plans
July 10, 2018 WEBCAST
Strafford

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Rhode (Island) Rage: New Paid Sick and Safe Rules May Frustrate Employers

"Working 50% or more of the time in Rhode Island is not required to establish that an employee is working 'in Rhode Island'; rather, if an employee spends more time working in Rhode Island than in any other state, that employee must be counted toward the 18-employee threshold.... The law specifies that verification and documentation requirements cannot unreasonably burden employees or cause them to incur an unreasonable expense ... HSFWA leave is paid at the same hourly rate, and with the same benefits, an employee normally earns, which cannot be less than the minimum wage." Littler

Bring Employee Benefits Education to You

With On-Site Education from the International Foundation, your staff can receive high-quality education in a customized, one-of-a-kind learning experience. Avoid the cost and inconvenience of travel, and let us bring the education to you! Learn More.

Health Plans' Anti-Assignment Clauses Upheld by Two More Federal Appellate Courts

"Over the past two months, the United States Court of Appeals for both the Ninth Circuit and the Third Circuit have upheld 'anti-assignment' clauses in ERISA-governed health plan documents. These holdings -- which adopt the same position previously taken by the First, Second, Fifth, Tenth, and Eleventh circuits -- are a blow to healthcare providers that attempt to bring suits against employer-sponsored health plans (or the insurance companies funding benefits under those plans) as 'assignees' of individual plan participants." Spencer Fane

Prescription Drug Pricing: A Collection of Policy Briefs and Papers (PDF)

78 pages. "This compendium of briefs and policy options papers provides a quick, clear, easy-to-use, and impartial foundation for anyone seeking to understand what's behind the rising price of prescription drugs." Health Affairs

2018 Milliman Medical Index (PDF)

12 pages. "In 2018, the cost of healthcare for a typical American family of four covered by an average employer-sponsored preferred provider organization (PPO) plan is $28,166, according to the Milliman Medical Index (MMI).... The MMI increased by $1,222 from 2017 to 2018.... At 4.5%, the MMI's annual rate of increase is nearly the lowest in 18 years.... Prescription drug trends are down for the third consecutive year.... [In 2018, employee expenses increased] by 5.9% while employer expenses increased by only 3.5%." Milliman

Where Does Your Health Care Dollar Go?

"The greatest percentage -- 23.2 cents -- goes to pay for prescription drugs. 22.2 cents goes to pay your doctors, while another 20.2 cents pays for all other costs at your doctors' offices and clinics. 16.1 cents pays for hospital stays. 4.7 cents goes to pay federal, state, and local taxes.... Only 2.3 cents of every health care dollar goes to health insurance provider profits." America's Health Insurance Plans [AHIP]

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Employers Significantly Increasing Progressive Health Benefit Offerings

"These progressive benefits included: [1] Telemedicine services, up 24% (now being offered by 74% of surveyed employers vs. 49% last year); [2] Employee Assistance Programs (EAPs), up 16% (80% to 96%); [3] Behavioral health plans, up 13% (78% to 91%); [4] Weight management programs, up 12% (58% to 70%); [5] Health advocacy programs, up 12% (48% to 60%); [6] Tobacco/smoking cessation support, up 11% (73% to 84%)." HR Daily Advisor

HSAs and Medicare: Like Oil and Water

"Being enrolled in any part of Medicare, including the usually free Part A, leaves taxpayers ineligible for deposits into an HSA.... Many choose to defer their enrollment into Medicare so they can keep taking advantage of HSA tax benefits. And this can be done without penalty as long as the member is covered under a qualified HDHP plan as a result of their own (or their spouse's) active employment through an employer of 20 or more employees.... Most people don't know that when you sign up to collect Social Security retirement income, you're automatically enrolled in Medicare Part A." Frenkel Benefits

HSA + Medicare: Using an HSA to Pay for Medicare Premiums and More

"You can still use your HSA funds if you have Medicare coverage. You may withdraw funds from your HSA at any time, regardless of whether you are eligible to contribute to your HSA.... [Y]ou may not contribute to an HSA while enrolled in Medicare.... By choosing to postpone enrollment in Medicare, you are still eligible to make contributions to your HSA until the first day of enrollment." Connect Your Care

Workplace Wellness Can Be Hazardous to Your Health

"The hazards fall into 6 categories: [1] Actual, well-documented, harms to an exposed population; [2] First-person case studies and reports; [3] Crash-dieting risks; [4] Flouting of established clinical guidelines; [5] 'Hyperdiagnosis' leading to unneeded medical care; [6] Incorrect or potentially harmful advice that employees are told to take." Al Lewis, JD, via American Journal of Managed Care

Impact of GASB 74/75 on Small Government Employers (PDF)

"[This article reviews] the Alternative Measurement Method (AMM), which is used by small government employers in lieu of an actuarial valuation. This AMM review is followed by a discussion of the important changes relevant to small government employers as GASB 74/75 takes effect." Milliman

They're Yours, They're Mine or They're on Their Own: More on Employee vs. Independent Contractor

"[T]he Dynamex case dramatically changes the test for determining whether workers should be classified as employees or independent contractors under the California Wage Orders and adopts a rule that generally presumes that someone working for a business or organization is an employee and not an independent contractor. However, this new rule only applies for purposes of the California Wage Orders, and does not change the 'common-law' test of employment status[.]"
Best Best & Krieger LLP

2018 Employee Financial Wellness Survey

"Forty-two percent of employees say it's likely they'll need to use money held in retirement plans for expenses other than retirement ... Employees want a financial wellness benefit with access to unbiased counselors and help understanding and using their benefits.... A growing number of employees would be willing to sacrifice future pay increases for better healthcare benefits. Overall, among employees' retirement concerns, worries over health issues and healthcare costs combined are even more prevalent than the fear of running out of money." PwC

Post-Retirement Experiences of Individuals 85+ Years Old

"The Society of Actuaries' Committee on Post Retirement Needs and Risks is pleased to make available two research reports on post-retirement experiences of individuals 85+ years old. The first report summarizes sixty-two interviews of individuals 85 years and older. Interviews were conducted in the United States and Canada. The second report summarizes 201 surveys of Americans age 85+ years old and 202 surveys of adult children of Americans in this age group. The study seeks to understand how the habits and behaviors from earlier in life played out in the later years of retirement." Society of Actuaries

Executive Compensation Planning for Owner Executives of Private Business After the Tax Cuts and Jobs Act

"Going forward, when S Corp and/or LLC owner executives are eligible for the 20% deduction, the difference in marginal rates will provide an even greater incentive to minimize wages in favor of a larger share of distributable net income. This must be weighed against other important factors including [1] optimizing the value of any qualified plan deductions and benefits, and [2] recognizing the appropriate value for services rendered by each of the owner executives who may have different levels of ownership and hold different jobs (with different values)." Findley

Can Rights Under a NQDC Plan Be Assigned to a Trust?

Employer has an NQDC plan in the form of "appreciation units." Executive wants any payments under the plan to be paid to a trust, of which he and his wife are the trustees, instead of to him directly. My understanding is this does not avoid taxation for him, but he wants the trust to hold all of his assets. Plan currently does not permit the assignment of rights under the plan. Does amending the plan to allow a participant to assign his/her right to payment to a trust present problems under 409A? Any right to payment is still subject to forfeiture. BenefitsLink Message Boards

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Press Releases

Cariloop Receives Minnesota Health Action Group Innovation Award Minnesota Health Action Group

NPPG Appoints Patrick Carragher to Senior Vice President of Employee Benefits Northeast Professional Planning Group [NPPG)]

Securian Financial Launches New Brand Identity, First-Ever National Television Advertising Campaign Securian Financial Group

2018 Willis Towers Watson Best Practices in Health Care Survey Now Open Willis Towers Watson

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