Pension and Benefits NetNews – April 15, 2014

 

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Featured This Week

Employee Benefits Management News

  • Law eliminates deductible limits for employer-sponsored plans in small group market
  • ERIC urges HHS to rule that self-funded plans should not be subject to HIPAA certification requirements
  • Organizations identify employees’ health habits as top cost challenge
  • Workers desire income option for retirement, according to LIMRA survey

Pension Plan Guide News

  • IRS provides simplified safe harbor procedures to validate rollover contributions
  • PBGC provides information on annual funding notice
  • PBGC proposed regs clarify treatment of benefits rolled over from DC plan if DB plan is terminated and trusteed by PBGC

Employee Benefits Management News

Law eliminates deductible limits for employer-sponsored plans in small group market

The Protecting Access to Medicare Act of 2014 (P.L. 113-93) eliminates the deductible limits for employer-sponsored health plans in the small group market. Specifically, Sec. 213 of the law repeals Section 1302(c)(2) of the Patient Protection and Affordable Care Act (P.L. 111-148), which had placed limits on deductibles in employer-sponsored health plans in the small group market, subject to the law’s actuarial value requirements. For details, see ¶2076B.

(Read Intelliconnect) »

ERIC urges HHS to rule that self-funded plans should not be subject to HIPAA certification requirements

The ERISA Industry Committee (ERIC) recently urged the Department of Health and Human Services (HHS) to modify proposed rules that would require employer group health plans to certify compliance with standards and operating rules adopted under the Health Insurance Portability and Accountability Act of 1996 (HIPAA) for certain electronic transactions. For details, see ¶2076C.

(Read Intelliconnect) »

Organizations identify employees’ health habits as top cost challenge

To combat rising health care costs, organizations are turning to targeted strategies and intervention programs that directly influence employees’ individual behaviors and health habits, according to
the Willis Health and Productivity Survey by Willis North America’s Human Capital Practice. For more information, see ¶2076D.

(Read Intelliconnect) »

Workers desire income option for retirement, according to LIMRA survey

Seventy-four percent of employers who offer a defined contribution plan in the United States believe their employees’ retirement readiness is an important measure on whether their current retirement benefits program is a success, according to recently-released research from LIMRA Secure Retirement Institute (LIMRA SRI). For more information, see ¶2076E.

(Read Intelliconnect) »

Pension Plan Guide News

IRS provides simplified safe harbor procedures to validate rollover contributions

The IRS has issued a revenue ruling providing simplified safe harbor due diligence procedures a plan administrator may use to determine the validity of a rollover contribution. For more information, see ¶19948Z-355.

(Read Intelliconnect) »

PBGC provides information on annual funding notice

In its retirement blog, the PBGC describes the information contained in an annual funding notice. For more information, see ¶127B.

(Read Intelliconnect) »

PBGC proposed regs clarify treatment of benefits rolled over from DC plan if DB plan is terminated and trusteed by PBGC

The PBGC has issued proposed regulations that would clarify the treatment of benefits rolled over from a defined contribution plan (DC) to a single-employer defined benefit (DB) plan if the DB plan is terminated and trusteed by the PBGC. For more information, see ¶20,538R.

(Read Intelliconnect) »