By Callan Carter (San Francisco) The effect of the recent healthcare legislation is beginning to be felt. Several changes (including pool coverage for high-risk people, extension of tax-dependent status of children to age 26, and a 10% excise tax on tanning salon services) have already been implemented and are not included on the chart below. … Continued
Source: PR Newswire [via insurancenewsnet.com] 04-Nov-2010 HR and benefits managers–and perhaps a lot of CEOs and CFOs — who in recent weeks had begun thinking seriously about the impact of federal health care reform on their profitability, workforce structure and health plan viability, may have awoken Nov. 3 asking, “What now?” What now, indeed. As … Continued
By Robert WeismanGlobe Staff / November 5, 2010 While the White House seems destined to spend the next two years fending off attacks on President Obama’s health care law, the administration of Governor Deval Patrick of Massachusetts will push forward with the next stage of health care overhaul: trying to contain the escalating costs of medical care. That … Continued
Source: Warner Norcross & Judd LLP [via BenefitsLink] 01-Nov-2010 Norbert F. Kugele Just a reminder that the deadline is Nov. 15, 2010 to distribute the annual Notice of Creditable Coverage required under Medicare Part D. The notice informs participants whether the prescription drug coverage offered under your health plan constitutes creditable or noncreditable coverage. The … Continued
House Republicans plan a vote early in 2011 to repeal the health-care law
ERISA Source: PLANSPONSOR By Judy Ward For the first time in a generation, the Labor Department has taken another crack at the definition of a fiduciary under the Employee Retirement Income Security Act (ERISA). The proposed rule was unveiled today by the Department of Labor (DoL), which noted that its adoption “would protect beneficiaries of … Continued
Health Source: USA Today [via BenefitsLink] By Marry Brophy Marcus The future of diabetes in America looks bleak, according to a new Centers for Disease Control and Prevention report out today, with cases projected to double, even triple, by 2050. “There are some positive reasons why we see prevalence going up. People are living longer … Continued
Compliance Source: McKay Hochman [via BenefitsLink] The in-plan Roth conversion provision of the Small Business Jobs and Credit Act (H.R. 5297) became effective on September 27, 2010. The absence of IRS guidance leaves us with many questions regarding how to implement, administer and report such conversions. As we stated in our October 1st e-mail alert article, … Continued
NAIC unveils medical loss ratio rules under health reforms Health Care Reform Source: Business Insurance 21-Oct-2010 By Joanne Wojcik WASHINGTON—The National Assn. of Insurance Commissioners adopted a model regulation Thursday that includes definitions of which medical expenses can be counted toward insurers’ medical loss ratios under the Patient Protection and Affordable Care Act. Under PPACA, … Continued
Source: PLANSPONSOR 20-Oct-2010 By Rebecca Moore Eighty-five percent of employers in a recent survey report that their organization offers tuition assistance to their employees, compared with 52 percent that said so in late 2007. However, according to the survey of tuition assistance plan practices by BLR, this increase in companies providing tuition was accompanied by … Continued