Employer Strategies

The ongoing shift from defined benefit (DB) to defined contribution (DC) plans has prompted the financial services industry to rapidly develop products that deliver a steady stream of retirement income, one of the biggest shortcomings with DC plans. While numerous retirement income products are hitting the marketplace, employers and regulators are grappling with how they fit within qualified retirement plans.

Can you imagine a world where the “new norm” required insurers and providers to disclose what they charge upfront? Read as Mark Gaunya, president of the Massachusetts Association of Health Underwriters, shares two specific messages he took to the Hill at the Cap Conference and the outcome.

On January 3, 2012, the Internal Revenue Service issued Revenue Procedure 2012‑6, which formally changes and eliminates certain features of its determination letter program for qualified retirement plans. According to an earlier announcement of these changes (in IRS Announcement 2011-82), the IRS concluded that the features being eliminated are “of limited utility to plan sponsors in comparison with the burdens they impose.” However, the changes will significantly restrict the determination letter service on which plan…

Baby boomers appear to be taking a second look at their life insurance policies as an alternative financial solution to paying for retirement, where they sell an unneeded life insurance policy for a portion of the face amount. These transactions, known as life settlements, have become a mainstream practice in the past several years, particularly as baby boomers begin exploring all financial options to paying for retirement, including previously unconventional alternatives.

Something is costing your health plan a whole lot of money, and it's largely due to uninformed choice: early induced deliveries.

On the last day of the National Association of Health Underwriters’ 2012 Capitol Conference hundreds of attendees received exciting industry news that made the ballroom erupt with a roar of applause and cheers.

Wage laws are tricky. But it is an area of law all employers need to familiarize themselves with. It's necessary to compensate employees —sometimes even when you least expect it. In fact, there are times when employees need to be paid for...not working.

Policy Studies Inc. has a new business process outsourcing service to help address the requirements — and deadlines — for implementing health insurance exchanges and marketplaces, the company reports.

The health care system is “so screwed up in where we invest our money,” and that needs to change for costs to become manageable, said a health researcher Tuesday.

Insurance agents play a “big role” in making sure Congressional legislation comes out the way it does, two members of the House told the National Association of Health Underwriters Capitol Conference Tuesday.