Pension & Benefits NetNews – July 22, 2014

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Featured This Week

Employee Benefits Management News

  • HSAs provide financial flexibility for consumers, survey finds
  • Automatic enrollment will burden retail industry due to high turnover rates
  • HSAs more popular than HRAs among small to mid-size employers and employees, survey finds
  • Health insurer that paid another insurer’s claims is not entitled to reimbursement

Pension Plan Guide News

  • IRS withdraws proposed IRA regs that conflict with Bobrow decisio
  • House Ways and Means Committee marks up highway bill with pension provisions
  • IRS seeks comments on Form 5305A-SEP

Employee Benefits Management News

HSAs provide financial flexibility for consumers, survey finds

A new survey on health savings accounts’ (HSAs) financial activity shows that HSA plans are a valuable financial tool for consumers, providing flexibility to cover immediate medical expenses and to save for future health care costs. For details, see ¶2078R.

(Read Intelliconnect) »

Automatic enrollment will burden retail industry due to high turnover rates

The Patient Protection and Affordable Care Act’s (ACA) automatic enrollment provision forces employers to automatically enroll employees into a health plan that they may not want or need, according to the Retail Industry Leaders Association (RILA). For more information, see ¶2078S.

(Read Intelliconnect) »

HSAs more popular than HRAs among small to mid-size employers and employees, survey finds

The number of employers offering health savings accounts (HSAs) increased from 14.7% to 15.1% in 2013, and employee participation in these plans rose from 7.1% to 8.8% in the same period, according to new data released from the 2013 UBA Health Plan Survey. For more information, see ¶2078T.

(Read Intelliconnect) »

Health insurer that paid another insurer’s claims is not entitled to reimbursement

Although an insurer that covered students’ sports injuries was obligated to pay for their medical expenses where its policy and a health insurer’s policies overlapped, it did not have to reimburse the health insurer for payments that had already been made on the students claims, according to the U.S. Court of Appeals for the Sixth Circuit (CA-6). For more information, see ¶2078V.

(Read Intelliconnect) »

Pension Plan Guide News

IRS withdraws proposed IRA regs that conflict with Bobrow decision

The IRS has announced that it is withdrawing Proposed Reg. 1.408-4(b)(4)(ii) to reflect the Tax Court’s holding in Bobrow v. Commissioner. For more information, see ¶17,203Y-30.

(Read Intelliconnect) »

House Ways and Means Committee marks up highway bill with pension provisions

The House Ways and Means Committee on July 10, 2014 approved H.R. 5021, a highway bill funded in part by pension smoothing provisions. For more information, see ¶129G.

(Read Intelliconnect) »

IRS seeks comments on Form 5305A-SEP

The IRS is soliciting comments concerning salary reduction simplified employee pension-individual retirement accounts contribution agreements. For more information, see ¶129E.

(Read Intelliconnect) »