Pension & Benefits NetNews – January 14, 2014

 

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Featured This Week

Employee Benefits Management News

  • Options exist for employees who don’t like their employers’ health insurance
  • IRS issues medical loss ratio computation rules
  • Employee notice of need for FMLA leave sufficient even though he didn’t follow employer’s normal procedure
  • Report ties this year’s increases in health insurance costs to implementation of ACA

Pension Plan Guide News

  • PBGC reg makes flat-rate premium due date for large plans the same as date that variable-rate premium is due
  • IRS issues 2014 schedule of employee plan user fees
  • Revised determination letter procedures for 2014 issued by IRS

Employee Benefits Management News

Options exist for employees who don’t like their employers’ health insurance coverage

In 2014, when the health insurance exchanges are up and running, what can an employee who gets employer-sponsored coverage at work, but doesn’t like it, do? Can they obtain coverage via a state health insurance exchange? For details, see ¶2073P.

(Read Intelliconnect) »

IRS issues medical loss ratio computation rules

The IRS has released final regulations that provide guidance to Blue Cross and Blue Shield organizations, and certain other qualifying health care organizations, on computing and applying the medical loss ratio (MLR) under Code Sec. 833(c)(5). For details, see ¶2073Q.

(Read Intelliconnect) »

Employee notice of need for FMLA leave sufficient even though he didn’t follow employer’s normal procedure

Although an employee did not follow the employer’s normal procedure for notifying his supervisor of his need to take FMLA leave to enter a substance abuse program, his employer failed to show that his notice was insufficient to put it on notice of the employee’s need for FMLA leave, the federal district court in D.C. has ruled. For more information, see ¶2073R.

(Read Intelliconnect) »

Report ties this year’s increases in health insurance costs to implementation of ACA

About half (47 percent) of Americans with employer-based health insurance say more money is being taken out of their paychecks each month for health insurance than a year ago, according to a new Bankrate.com report. For more information, see ¶2073S.

(Read Intelliconnect) »

Pension Plan Guide News

PBGC reg makes flat-rate premium due date for large plans the same as date that variable-rate premium is due

The PBGC has issued a final regulation that makes the flat-rate premium due date for large plans the same as the variable-rate premium due date for such plans, starting with the 2014 plan year. For more information, see ¶24,809O.

(Read Intelliconnect) »

IRS issues 2014 schedule of employee plan user fees

The IRS has updated its user fee schedule, generally effective February 1, 2014, for requests for various types of employee plan letter rulings and determination letters, and other matters under the jurisdiction of the Commissioner, Tax Exempt and Government Entities Division. For more information, see ¶17,299u38.

(Read Intelliconnect) »

Revised determination letter procedures for 2014 issued by IRS

The IRS has issued revised procedures for issuing determination letters on the qualified status of pension, profit-sharing, stock bonus, annuity, and employee stock ownership plans (ESOPs), and the status for exemption of any related trusts or custodial accounts. For more information, see ¶17,299u36.

(Read Intelliconnect) »