tag:blogger.com,1999:blog-7705633432347234882024-03-14T06:11:02.503-04:00Benefit News' Daily DiversionTake a break from the grind to read:
News You Can Use:The latest in health, retirement, work-life and legal.
News You Can’t Use:Awards, personnel news and more.
Tip of the Day: A daily nugget to improve your work and company.
Overheard At ...:Podcast picks.
Wish You Were Here: Benefits and events that make employers stand out from the crowd.
Scone: Breakfast-hour posts on the news of the day.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.comBlogger596125tag:blogger.com,1999:blog-770563343234723488.post-73254323373260774992009-06-01T16:53:00.002-04:002009-06-01T16:57:40.841-04:00We're moving!Attention all Daily Diversion readers! This is the <span style="color:#ff0000;"><strong>last post to our blogspot url!</strong></span><br /><br />From now on, you can read DD posts at <a title="http://ebn.benefitnews.com/blog/daily_diversion/" href="http://ebn.benefitnews.com/blog/daily_diversion/">http://ebn.benefitnews.com/blog/daily_diversion/</a>. If you RSS us, you'll have to resubscribe at the new address. I'm no techie, but if you run into trouble feel free to <a href="mailto:kelley.butler@sourcemedia.com">e-mail me</a>. Otherwise, I'm looking forward to reconnecting at the same Bat-time, new Bat-channel.<br /><br />Thanks for reading! --K.B.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-62367186778041313862009-06-01T13:00:00.000-04:002009-06-01T13:00:03.624-04:00Tip of the Day: Beware of Sen. KennedyA recent report in <em><a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/05/28/AR2009052803772.html">The Washington Post</a></em> reveals that Sen. Edward Kennedy's health care reform proposal involves mandates both for employees and employers, similar to the health care system in Kennedy's home state of Massachusetts.<br /><br />It's no secret that employers are solidly against a mandate for businesses to chip in for the cost of health insurance, so I encourage you to make your voice heard on Sen. Kennedy's plan. According to the Post, he plans to unveil it today and my sources tell me that a bill of of some kind could come as early as this month.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-71710468584075648732009-06-01T08:00:00.001-04:002009-06-01T08:00:17.832-04:00Overheard @: Trimming FSAs could pay for health care reformIn a recent article written for the <a href="http://www.cbpp.org/cms/index.cfm?fa=view&id=2829">Center on Budget and Policy Priorities</a>, authors Chuck Marr and Kris Cox suggest that "Congress should consider scaling back or eliminating health care flexible spending accounts as part of its effort to pay for health care reform."<br /><br />Among their reasons for deep-sixing FSAs, Marr and Cox say:<br />* FSAs encourage excess utilization of health care.<br />* FSAs’ “use or lose it” requirement promotes wasteful spending.<br />* FSAs complicate peoples’ lives while providing only modest benefits for non-wealthy accountholders.<br />* Health care reform’s changes to the treatment of out-of-pocket costs are likely to weaken the rationale for FSAs.<br /><br />I found their arguments to be interesting and very rational, particularly the part about the "use it or lose" requirement promoting wasteful spending. I can't tell you how many colleagues and friends buy several pairs of eyeglasses and bottles upon bottles of aspirin in December each year so they can use up their FSA dollars.<br /><br />What do you think? With HSAs growing in popularity, are medical FSAs even needed anymore?Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-23496008315624452282009-05-29T13:00:00.000-04:002009-05-29T13:00:05.565-04:00Tip of the Day: Submit your ideas for fixing the retirement systemDo you have an idea of what a universal, secure, and adequate retirement system should look like? <a href="http://www.retirement-usa.org/">Retirement USA </a>wants to hear from you!<br /><br />The organization is <a href="http://www.retirement-usa.org/proposal/">accepting proposals </a>from us regular folks on how to revamp retirement to make sure everyone has happy and secure golden years. There are a few caveats -- proposals have to align with Retirement USA's principles, but they're things I think we all can agree on for the most part: plans that are universal, secure, portable and provide adequate retirement income.<br /><br />So put your ideas out there!Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-83790875885012335612009-05-29T08:00:00.002-04:002009-05-29T08:00:11.722-04:00Yay or Nay: Is the employer-sponsored system worth saving?Although President Obama has called the employer-based health care system <a href="http://employeebenefitnews.blogspot.com/2009/03/overheard-president-addresses-health.html">"an accident of history that works,"</a> a recent <em><a href="http://economix.blogs.nytimes.com/2009/05/22/is-employer-based-health-insurance-worth-saving/?hp">New York Times</a></em> opinion piece by Princeton economics professor Uwe Reinhardt says the system makes employers "pickpockets, so to speak, who take a chunk of the employee’s total compensation and buy with it whatever fringe benefits they 'give' their employees."<br /><br /><br /><br />While I'm sure you don't wholly agree or disagree with either the president or Reinhardt, what <em>are</em> your thoughts? Should the employer-based system stand, or do you think it needs dismantling?Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-35054016938396123692009-05-28T13:00:00.000-04:002009-05-28T13:00:06.804-04:00Tip of the Day: Prepare for a health care battleAs summer approaches, so does the official start of a duel over health care reform. A host of proposals from Republicans and Democrats are on the table, and Sen. Charles Grassley acknowledged to reporters earlier this spring, "This is the toughest issue we have ever taken on -- every part has got a chance of blowing up."<br /><br />One of the stickiest points of contention is whether or not reform should incorporate a public plan option. To keep with all the "duel" imagery, Les Masterson of <em>Health Plan Insider</em> writes that CDHPs and HSAs should prepare to "do battle" with a public plan.<br /><br />As Masterson notes, some 8 million Americans are covered by HSA-eligible plans with enrollment steadily growing. He cites two recent surveys touting the accounts and <a href="http://healthplans.hcpro.com/content/233369/page/2/topic/WS_HLM2_HEP/Are-HSAs-Ready-to-Battle-a-Public-Plan.html">writes</a>:<br /><br />"These two studies were released at the same time that the health care reform debate rages in DC. That's not a coincidence. Private health plans are rightfully viewing portions of health care reform as a direct assault on their business.<br /><br />HSAs, the poster boys for creating better health care consumers and lowering health care costs under the Bush administration, are not seen by most Democrats as a solution—but rather a problem that prices the poor out of quality health care."<br /><br />So pros, since employers increasingly are turning to HSAs to lower cost, you should get your war paint ready if you don't want to see HSAs decline. Or, perhaps you're content to see employees enroll in the public plan. What are your thoughts? Comment and let me know.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com1tag:blogger.com,1999:blog-770563343234723488.post-43346795441050467562009-05-28T08:00:00.000-04:002009-05-28T08:00:10.265-04:00News You Can Use: Another day, another delayIf there's one thing the government does well, it's make things take longer. The Department of Labor announced on Thursday a <em>second</em> extension for public comment on final regulations that would permit 401(k) and other retirement plan fiduciaries to provide more advice to plan participants under the Pension Protection Act of 2006. The new deadline is Nov. 18, 2009.<br /><br />Employers have long awaited better guidance on what forms of investment advice the government wants to permit, or encourage. The comment period was previously extended to allow the Obama administration sufficient time to examine the legal and policy issues present in the regulation, according to a White House memo. <br /><br />On Jan. 21, 2009, DOL released a final rule administering the provision of investment advice under the ERISA's prohibited transaction provisions. Subsequently, Labor officials drew out the applicability and effective dates of the final regulation from March 23 to May 22.<br /><br />No word yet on what will be accomplished during the second extension other than changing of seasons.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-4826532857923045992009-05-27T13:00:00.000-04:002009-05-27T13:00:05.793-04:00Tip of the Day: Hit all the right target dates next monthMark your calendars, pros; there's some don't-miss action going on at Capitol Hill next month regarding target-date funds.<br /><br />The first date to put in your Outlook is <strong><span style="font-family:verdana;color:#ff6666;">June 18</span></strong>, when the Department of Labor and Securities and Exchange Commission will hold a joint one-day hearing on the <em>issues</em> (read: abysmal '08 performance) surrounding target-date funds.<br /><br />According to a press release from the agencies, the hearing will "examine the need for additional guidance given the importance of these investments to the retirement savings of investors." By "importance," they mean the large number of participants with savings in these funds. (Last year, 53% of 401(k) plans use target-dates as the default option.)<br /><br />The hearing will cover topics like "portfolio composition, risk, and disclosure," according to DOL's website. Not very specific, is it? That's why the second don't-miss date is <span style="font-family:verdana;color:#ff6666;"><strong>June 10</strong></span> -- the day the agencies say they'll release the hearing agenda.<br /><br />The last date to mark is <span style="font-family:verdana;color:#ff6666;"><strong>June 5</strong></span>. That's the deadline for written requests to testify at the hearing. Make your voice heard! Send requests to <a href="mailto:e-ORI@dol.gov">e-ORI@dol.gov</a>, or to Office of Regulations and Interpretations, Employee Benefits Security Administration, 200 Constitution Ave., N.W., Washington, D. C. 20210.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-77169987253122442152009-05-27T08:00:00.000-04:002009-05-27T08:00:14.287-04:00Yay or Nay: Is swearing at work okay?Two surveys find differing opinions on whether it's okay to swear at the workplace, and I want to get your thoughts, pros.<br /><br />According to a poll by <a href="http://www.surepayroll.com/spsite/press/releases/2009/release051809.asp">SurePayroll</a>, 80% of respondents believe that even seemingly innocent swearing on the job can be interpreted the wrong way and have negative consequences, even though 40% admit to swearing themselves at least occasionally and 11% actually think swearing can boost employee morale.<br /><br />Another study from researchers at the University of East Anglia (in Norwich, England) finds that embracing your inner Blago can "reflect solidarity and enhance group cohesiveness, or as a psychological phenomenon to release stress," according to study director Yehuda Baruch.<br /><br />The study also discovers younger workers are more tolerant of profanity, and that women swear more than you might expect of the fairer sex and execs are less profane than the rank-and-file.<br /><br />So, is swearing at work okay -- yay or nay?Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com1tag:blogger.com,1999:blog-770563343234723488.post-27621246130049246772009-05-26T13:00:00.000-04:002009-05-26T13:00:04.519-04:00Tip of the Day: Raise the roof (on HSA limits)The Internal Revenue Service recently released a notice outlining <a href="http://www.irs.gov/pub/irs-drop/rp-09-29.pdf">2010 minimums and maximums for health savings accounts plans and high-deductible health plans</a>.<br /><br />For calendar year 2010, the annual HSA contribution limit for an individual with self-only HDHP coverage is $3,050, up $50 from 2009. For an individual with family coverage under a HDHP, the new limit is $6,150, up $200 from 2009.<br /><br />The 2010 minimum on HDHP deductibles, for self-only HDHP coverage, jumped to $1,200 (up $50 from 2009), and $2,400 (up $100 from 2009) for family coverage. The 2010 maximum on HDHP out-of-pocket expense increased to $5,950 (up $150 from 2009) for self-only HDHP coverage and $11,900 ($300 from 2009) for family HDHP coverage.<br /><br />Related <em>EBN</em> coverage:<br /><a href="http://ebn.benefitnews.com/news/whats-in-it-for-me-2672182-1.html">What's in it for me?</a><br /><a href="http://ebn.benefitnews.com/news/offering-answers-to-whats-happening-to-my-health-plan-2672005-1.html">Offering answers to 'What's happening to my health plan?'</a>Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-19998818067774672082009-05-26T08:00:00.000-04:002009-05-26T08:00:11.310-04:00Overheard @: 'We had a $3 billion investment loss'If the recession drags on, it will be a red-hot summer for the PBGC -- emphasis on "red."<br /><br />In a report from BenefitNews.com, the Pension Benefit Guaranty Corp. reports that the agency’s underfunded liabilities for its single-employer insurance program hit an all-time high of $33.5 billion, surpassing the former record of $24 billion in 2004.<br /><br />“The reason that our deficit grew is not because of investment losses, rather because of more plan terminations coming through the agency since the last fiscal year,” Constance Markakis, senior attorney advisor in the legislative and regulatory department at PBGC, said late last week. “We had a $3 billion investment loss on our $63 billion assets portfolio. Also, 70% of our assets are invested in fixed-income.”<br /><br />Still, the recession and the stock market decline means more defined benefit plans are substantially underfunded, thus seeking distressed terminations. “The $33.5 billion includes both actual terminations and probable terminations, which are terminations that we predict will occur within the next year,” explained Markakis.<br /><br />PBGC insures the pensions of about 33.8 million workers and retirees in about 28,000 private-sector DB plans under its single-employer insurance program and 10.1 million participants under its multiemployer program in about 1,500 plans, according to the Employee Benefit Research Institute.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-71329202294770968322009-05-22T13:40:00.002-04:002009-05-22T13:53:00.432-04:00Tip of the Day: Wait! You forgot your 401(k)!When an employee leaves, I know you must have your offboarding procedures: take their security card, give them a COBRA application, perhaps conduct an exit interview. But somewhere in those procedures, I beg of you to remind them to take their 401(k)s with them.<br /><br />New research from Charles Schwab shows 43% of assets held by 401(k) participants who left their jobs in the first quarter of 2008 had not been moved a year later.<br /><br />And no, there's nothing terribly wrong with that, but participants should be encouraged to be active and engaged about what they do with those savings. “We urge people to educate themselves on their options when they leave a job, especially if they expect to be out of work without access to a savings plan at a new job,” says Rene Kim, Charles Schwab senior vice president.<br /><br />“In many cases, rolling an old 401(k) into an IRA can be a strategic move, because it is tax free, there is no penalty, and an IRA provides more investment choices,” Kim continues. “A rollover IRA can also keep retirement savings more top of mind. People who leave money in a previous employer’s 401(k) plan often forget the money is even there, which can result in asset allocations falling way off balance based on an individual’s savings objectives and risk tolerance.”<br /><br />And while rolling savings into a new employer's plan also is a good move, Kim (and every other retirement expert on the planet0 strongly warns against cashing out.<br /><br />“Unless there is a dire and immediate financial need, cashing out a 401(k) is almost always a bad idea,” Kim says. “Cashing out eliminates the power of compounding savings, and people generally find it very hard to get back on track once they begin tapping retirement savings for shorter term needs.”Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-55909477795066848762009-05-22T08:00:00.000-04:002009-05-22T08:00:14.438-04:00Overheard @: HSA enrollees have no regretsAs more employers switch to CDHPs and HSAs to fight the good fight against health care costs, they have greater reassurance that the plans will be well-received by employees, as two new surveys show HSA participants have few regrets about switching to the plans.<br /><br />In <a href="http://www.optumhealth.com/News/Article/141/">an online survey</a> by OptumHealth, 82% are content with their accounts and 74% would recommend an HSA to a friend. The online survey involved 500 HSA owners and was conducted in February and March.<br /><br />Further, countering the charge from opponents that HSAs are only for the healthy and wealthy, America’s Health Insurance Plan reports that almost half (49%) of HSA holders live in neighborhoods with median incomes under $50,000, according to 2000 Census data.<br /><br />AHIP also finds about 8 million Americans are covered by an HSA-eligible insurance plan. <a href="http://www.ahipresearch.org/pdfs/2009hsacensus.pdf">The study</a> also reveals that HSA owners are forward thinkers when it comes to financial and physical well-being. For instance, 64% have asked about generic options for medication and 47% have queried their physicians about charges.<br /><br />HSA accountholders also believe that people need to become more engaged in their health care, with 83% of respondents agreeing that consumers should research and comparison shop their health care options as they would for a new television set. Additionally, 72% said that individuals should be responsible for helping to manage their health care costs.<br /><br />Related <em>EBN</em> coverage:<br /><a href="http://ebn.benefitnews.com/news/readers-sound-off-on-march-editorial-2672165-1.html">Readers sound off on March editorial [on HSAs]</a><br /><a href="http://ebn.benefitnews.com/news/cdhps-praised-roi-panned-2671979-1.html">CDHPs praised, ROI panned</a>Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-53726541707756132852009-05-21T08:00:00.000-04:002009-05-21T08:00:10.527-04:00News You Can Use: Republicans reveal health care reform proposalUs <em>EBN</em>ers don't believe in duplicating efforts, so rather than rehash the new Republican-led health care proposal here, I'll just link you to <a href="http://benefitsexplained.blogspot.com/2009/05/republicans-release-health-reform.html">the writeup from Benefits Explained</a>, the blog from <em>EBN</em> sister title <em>Employee Benefit Adviser</em>.<br /><br />The key buzzterms you'll want to note, though, are: tax credits, health insurance exchanges and no mandates. And no, you didn't miss anything; the plan does seem to remove employers' tax exemption for providing health benefits. Let the debate begin!Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-78671508023739719182009-05-20T12:05:00.003-04:002009-05-20T13:47:37.443-04:00Tip of the Day: Mandating health risk assessments is an ADA no-noSome employers have taken the bold step in recent years to mandate employees to participate in health risk assessments to obtain group health insurance. However, a new informal letter from the Equal Employment Opportunity Commission says that such a requirement is one bold step forward but two legal steps back, writing that the mandate is a violation of the Americans with Disabilities Act.<br /><br />In part, the letter reads: "Although the Equal Employment Opportunity Commission has not taken a formal position on this issue, this office believes the policy you described would violate provisions of the Americans with Disabilities Act that require disability-related questions or medical examinations of employees to be job-related and consistent with business necessity."<br /><br />I understand the EEOC's position, but in this economy, if every dollar in health savings isn't "business necessity," I don't know what is. What do you think, pros? Comment and let me know.<br /><br />Click here to read the full text of the <a href="http://www.eeoc.gov/foia/letters/2009/ada_disability_medexam_healthrisk.html">EEOC's letter</a>.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-80075007257773880992009-05-20T11:59:00.001-04:002009-05-20T12:05:20.222-04:00News You Can Use: SCOTUS rules against crediting maternity leave in pension calculationsThe Supreme Court ruled yesterday that women who took maternity leave before the enactment of the Pregnancy Discrimination Act of 1978 don’t have a legal claim in requiring employers to apply that leave on pension accruals.<br /><br />In <a href="http://www.supremecourtus.gov/opinions/08pdf/07-543.pdf"><em>AT&T Corp. v. Hulteen</em></a>, the Supreme Court had to decide whether the telecommunication giant was correct in refusing to calculate pregnancy leave incurred prior to 1979 in determining pension benefits.<br /><br />In 1968, Hulteen took pregnancy disability leave for eight months. However, when she retired in 1994, she realized her pension checks were reduced because the eight months were not calculated as service time toward her pension benefits.<br /><br />By a 7-2 vote, the Supreme Court overturned a lower-court decision stating that AT&T had violated the PDA by treating pregnancy-related disability leave differently from other disability leaves.<br /><br />Although PDA requires employers to accord women who take pregnancy leave the same benefit as employees who take other types of temporary disability leave, AT&T argued, in part, that the court could no longer rely on previous case laws on retroactive principles because of a recent Supreme Court decision that limits applying federal statutes retroactively.<br /><br />The majority of justices agreed. “Congress provided for the PDA to take effect on the date of enactment, except in its application to certain benefit programs, as to which effectiveness was held back 180 days,” Justice David Souter wrote.<br /><br />Justices Ruth Bader Ginsburg and Stephen Breyer dissented: “Congress did not provide a remedy for pregnancy-based discrimination already experienced before PDA became effective,” Ginsburg wrote. “I am persuaded by the Act’s text and legislative history, however, that Congress intended no continuing reduction of women’s compensation, pension benefits included, attributable to their placement on pregnancy leave.”<br /><br />Related <em>EBN</em>/BenefitNews.com coverage:<br /><a href="http://ebn.benefitnews.com/news/att-ordered-credit-pregnancy-leave-calculating-162453-1.html">AT&T ordered to credit pregnancy leave in calculating pensions</a><br /><a href="http://ebn.benefitnews.com/news/hr-policy-high-on-washington-agenda-2672150-1.html">HR policy high on Washington agenda</a>Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-80816058948571228652009-05-18T13:00:00.000-04:002009-05-18T13:00:07.982-04:00Tip of the Day: Widen your wellness tentIn a report for BenefitNews.com, Associate Editor Lydell Bridgeford writes about a study from Rutgers University that finds 46% of highly educated and affluent workers report that their employer offers a wellness program, while only 25% of employees with a high school education or less say the same.<br /><br />In addition, 45% of salaried workers say they have access to some type of healthy lifestyle program through their employer, compared to 35% of hourly workers, and 45% of employees with incomes of $70,000 or more noted they have wellness benefits, compared to 21% of those making $35,000 or less.<br /><br />To be effective, wellness programs need to truly be for all. I'd encourage you to take another look at your wellness offering for hourly and lower-income employees to make sure the health-fair big top is big enough.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-75550485066024095492009-05-18T10:21:00.002-04:002009-05-18T10:27:20.604-04:00News You Can Use: Don't forget to submit your Benny noms!Hey pros, there's only a couple weeks left to nominate yourself, a colleague or a client for the <a href="http://ebn.benefitnews.com/benny_awards/benny-awards.html">2009 Benny Awards,</a> presented by <em>EBN</em> and sponsor VSP. Click here for a full description of the award categories and information on the nomination process. Nominations close June 5.<br /><br />I know the last year has been a tough one, so the judges and I are very much looking forward to being inspired by your stories of taking financial lemons and making lemonade for employees and their families. Good luck!Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-55381244325296658602009-05-15T08:00:00.000-04:002009-05-15T08:00:14.398-04:00Overheard @: EBN's Contributing Editors take on benefits' 'biggest challenge'In a special extended episode of <em>EBN</em>'s podcast series "Five Minutes With ...", our eight featured columnists draw on their unique expertise to answer, “What is the most important challenge currently facing benefits professionals and how can they best meet that challenge?”<br /><br /><a href="http://ebn.podhoster.com/download/1307/12276/kb.ce_roundtable_edited.mp3">Click here</a> to download the podcast, and click below to read more from and about <em>EBN</em>'s columnists:<br /><br />* <a href="http://ebn.benefitnews.com/news/panning-for-gold-in-health-care-2672155-1.html">Karrie Andes</a><br />* <a href="http://ebn.benefitnews.com/news/who-needs-prada-when-you-have-a-pedometer-2672156-1.html">Nancy Bolton</a><br />* <a href="http://ebn.benefitnews.com/news/moving-beyond-vanilla-2672167-1.html">Jill Hudgins</a><br />* <a href="http://ebn.benefitnews.com/news/auto-enrollment-alphabet-soup-2672196-1.html">Jerry Kalish</a><br />* <a href="http://ebn.benefitnews.com/news/redefining-hope-erasing-misperceptions-about-hospice-2672174-1.html">Betty Long</a><br />* <a href="http://ebn.benefitnews.com/news/eight-steps-for-measure-the-cost-of-employee-financial-stress-2672198-1.html">Mark Nadler</a><br />* <a href="http://ebn.benefitnews.com/news/layoffs-may-increase-retirement-plan-costs-2672157-1.html">Frank Palmieri</a><br />* <a href="http://ebn.benefitnews.com/news/finding-an-answer-to-the-million-dollar-question-2672184-1.html">Michael Puck</a>Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-18983930855947114052009-05-14T13:00:00.000-04:002009-05-14T13:00:08.204-04:00Tip of the Day: Weighing the pros and cons of 401(k) loans, distributionsDuring the recession, more employees are taking tomorrow's savings to pay for today's needs -- taking 401(k) loans, hardship distributions or cashing out their plans altogether.<br /><br /><em>EBN</em> legal eagle Frank Palmieri writes this month that while some employers seek to protect employees and only allow loans for limited purposes and others employers even restrict hardship distributions, it's important to understand the basic rules in making business decisions to allow or not allow such distributions. <a href="http://ebn.benefitnews.com/news/pros-and-conss-of-401k-loans-and-early-distributions-2672203-1.html">Click here</a> to read his column.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-4036576962645918272009-05-14T08:00:00.001-04:002009-05-14T08:00:12.779-04:00Wish You Were Here: Dave Thomas Foundation names this year's Best Adoption-Friendly WorkplacesParticularly in these economic times, adoption benefits seem to be one offering that can help employers do well by doing good.<br /><br />At a time when financial uncertainty could discourage some people from adopting a child, many employers are staying committed to providing adoption benefits to their workers. Such offerings could enable a family to proceed with adoption plans, and allow employers to provide or maintain a valued but inexpensive benefit, despite the cost-cutting environment.<br /><br />“The economy has not affected the continued increase in the number of adoption benefit policies nationwide,” notes Rita Soronen, executive director of the Dave Thomas Foundation for Adoption. “It’s the one benefit employers can add without negatively impacting the bottom line. Even though [adoption benefits] are popular with employees, utilization rates are extremely low. Adoption benefits give companies an affordable opportunity to help their employees and impact the lives of children without families.”<br /><br />The foundation recently rolled out its annual list of the Best Adoption-Friendly Workplaces. <a href="http://ebn.benefitnews.com/news/happiness-money-cant-buy-2672202-1.html">Click here</a> to read <em>EBN</em>'s report, written by Managing Editor -- and new adoptive mom! -- Leah Carlson Shepherd.<br /><br />Related <em>EBN </em>coverage:<br />* <a href="http://ebn.benefitnews.com/news/adoption-benefits-mature-workplace-239715-1.html">Adoption benefits mature in the workplace</a><br />* <a href="http://ebn.benefitnews.com/news/employers-honored-best-adoption-benefits-577441-1.html">Employers honored for best adoption benefits</a><br />* <a href="http://ebn.benefitnews.com/news/helping-fill-out-family-tree-employers-64173-1.html">Helping fill out the family tree</a>Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-80981198589457147172009-05-13T13:00:00.000-04:002009-05-13T13:00:06.809-04:00Tip of the Day: 5-point plan to developing a total-comp planEmployers today are facing some of their most difficult decisions when it comes to one of their most important asset: their employees, writes Elliot Dinkin in this month's <em>EBN</em>. Layoffs, salary and retirement plan freezes, pay cuts, health care benefit reductions - nothing is off the table in this recession as companies look to cut costs.<br /><br />Clearly one who feels your pain, Dinkin outlines a <a href="http://ebn.benefitnews.com/news/five-point-plan-2672152-1.html">five-point plan </a>to developing a long-term total comp strategy to help you take a fist to the recession. For more on rethinking total comp, read this month's <em>EBN</em> cover story, "<a href="http://ebn.benefitnews.com/news/no-stone-unturned-2672148-1.html">No stone unturned."</a>Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-75996661656175582932009-05-13T08:00:00.000-04:002009-05-13T08:00:19.678-04:00News You Can Use: Life insurance coverage erodingThe recession has nearly all employees and their families recasting how they separate "wants" and "needs." Apparently, more are taking life insurance out of the "need" category, and it's showing in sales of life coverage.<br /><br />In a report in this month's <em>EBN</em>, Greystone Benefits’ Joe Vogt tells Senior Editor Robert Whiddon that workers aren’t reaching deeper into their pockets for voluntary life or other worksite offerings like they used to, even if they only cost a few dollars a month.<br /><br />According to Vogt, “Where they would say, ‘Well, you know, $7 a week that’s not bad. I can afford $350 a year’ — they’re not doing that anymore.”<br /><br />To read the full report, <a href="http://ebn.benefitnews.com/news/crumbling-coverage-2672201-1.html">"Crumbling coverage,"</a> click here.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-61272706793902672412009-05-12T13:00:00.001-04:002009-05-12T14:15:05.359-04:00Tip of the Day: Take the long view; invest in vision benefits<a name="OLE_LINK2">According to a new study released yesterday from VSP, vision benefits help save employers -- ka-ching! -- nearly $3 billion in health care costs each year, associated with the treatment of chronic diseases detectable via an eye examination. </a><br /><br />Analyzing costs at five major corporations with a total 90,000 employees, VSP finds that early detection of diabetes, hypertension and high cholesterol yielded such savings in the first year alone, directly related to health plan, disability and employee termination costs.<br /><br />Specifically, companies save nearly $2,900 annually on disease management costs for each employee with diabetes, when the disease is detected early.<br /><br />When the findings are applied to the past three years for each of the five VSP clients in the study, the results show that nearly 2,000 members received early treatment for diabetes, high cholesterol and hypertension as a result of their annual eye exams. During that time, each of the five companies realized cost savings of at least $204,000 and as much as $968,000.<br /><br />When the findings are applied to VSP’s entire membership of 55 million over one year, the results show that:<br />* Of the nearly 1.5 million people with diabetes, 20% <a name="OLE_LINK1">received early treatment as a result of their </a>eye exam.<br />* Of the close to 2.2 million people with hypertension, 30% received early treatment as a result of their eye exam.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0tag:blogger.com,1999:blog-770563343234723488.post-1657543288433406832009-05-12T08:00:00.000-04:002009-05-12T08:00:11.210-04:00Overheard @: Readers sound off on HSA editorialNever in my wildest dreams could I have imagined the response to my March editorial, <a href="http://ebn.benefitnews.com/news/regret-enrolling-hsa-2670271-1.html">"I regret enrolling in an HSA."</a> For all the mail I've received since it was published — which ranged from congratulatory to condescending to critical — I am heartened by the vigorous debate regarding the future of our nation's health care system and that, if this response is any indication, benefits stakeholders will continue to be a powerful voice in that ongoing dialogue.<br /><br />Thanks to all for writing. <a href="http://ebn.benefitnews.com/news/readers-sound-off-on-march-editorial-2672165-1.html">Click here </a>to read a sampling of the mail I've received, edited for space and grammar.Kelleyhttp://www.blogger.com/profile/02512151319148366964noreply@blogger.com0