Compensation

Compensation

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  • The Internal Revenue Service has released guidance aimed at clarifying the tax treatment of mobile phones provided by employers to their employees.

    September 20
  • All too often, the messages employers intend to convey aren’t the ones employees hear. For companies with a warped communications strategy, a panel of experts offered first-hand advice for becoming an “organizational chiropractor” to straighten out misaligned messaging.

    September 20
  • The U.S. Department of Labor on Monday withdrew a controversial proposal to subject financial professionals to a higher standard of care when advising companies on their retirement plans, bowing to pressure from securities industry groups and lawmakers.

    September 19
  • Of the endlessly debated provisions in the Patient Protection and Affordable Care Act, the requirements for Medical Loss Ratios stand out for insurance companies because the requirements are designed to dictate how those companies pay their bills. A new study sheds light on the MLR rule; read as experts weigh in.

    September 19
  • Life insurance agents are expressing concern about a proposed change emanating from the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Find out what happened at a congressional hearing last week.

    September 19
  • With knowledge comes responsibility and when we ask for transparency that's exactly what we get ... more responsibility. In health care being reponsible means two things, read about those in today's BeAdvised.

    September 19
  • Despite being well educated, ambitious and driven, Asian-Americans often feel excluded from corporate America and hit a bamboo ceiling that prevents them from reaching top jobs, a new study showed.

    September 19
  • If you’re a customer of WellPoint, Inc., your employees’ records soon will come under the guidance of a computer. Granted, a very smart computer, but a computer nonetheless.

    September 19
  • Some things only make sense in the aggregate. The issue of longevity is a prime example. While longer life spans is one of the unalloyed successes of the preceding century, the aggregate impact of aging populations also represents a major challenge for governments and benefit companies.

    September 15
  • The Treasury Department and the Internal Revenue Service are asking for public input on a proposed health care reform rule that would make it easier for employers to determine whether the health insurance coverage they offer is considered “affordable” for employees.

    September 15
  • Wal-Mart Stores Inc will double the money it spends with women-owned businesses, train women around the world and push major suppliers to use more women and minorities on work they do for the retailer, its latest steps to promote a brighter corporate image.

    September 15
  • The latest federal data shows that benefits costs account for about 30% of employees’ total wages, as private-sector employers spent an average of $28.13 per hour worked for employee compensation in June 2011. Further, the Bureau of Labor Statistics reports, wages and salaries averaged $19.81 per hour worked and accounted for 70.4% of these costs, while benefits averaged $8.32 and accounted for the remaining 29.6%.

    September 15
  • Benefits professionals annually shake their heads in frustration as they spend countless hours preparing open enrollment materials and conducting benefits meetings, only to see employees spend just minutes considering and making their benefits choices. As this year’s enrollment season approaches, new survey results from Aflac give pros hard proof to show employees that not selecting carefully carries meaningful financial consequences.

    September 15
  • Whaddaya know? All this time, I thought it was just retirement plan participants who didn’t understand the fees they were paying. Turns out, according to a recent Spectrem Group study, plan sponsors don’t understand plan fees all that well either — only 45% of plan sponsors fully understand their retirement plan fees, according to the report that evaluated some 600 plan sponsors with assets under management of $10 million to $200 million. …

    September 15
  • It was a busy summer in the pharmacy benefits management business. First, in June, pharmacy chain Walgreens announced it would withdraw from Express Scripts' pharmacy provider network starting Jan. 1, 2012. Walgreens said the poor contract terms Express Scripts was offering - including prescription reimbursement rates below the industry average - made it impossible for the pharmacy chain to continue its relationship with the PBM.

    September 15
  • The rising cost of health care will soon be reflected even more substantially in employee cost-sharing. A new National Business Group on Health survey shows that large employers anticipate their health care benefit costs to climb 7.2% in 2012.

    September 15
  • The Early Retiree Reinsurance Program - created under the Patient Protection and Affordable Care Act to help employers offset the costs of maintaining early retiree health benefits - may get another $5 billion worth of funds thanks to a bill introduced in the Senate this spring. However, some industry insiders don't expect the bill to gain much traction.

    September 15
  • After the Twin Towers fell, the Pentagon stood burning and Flight 93 left a gaping hole in the Pennsylvania countryside on Sept. 11, 2001, Americans depended on human contact to revive our nation's spirit. Many companies consoled employees and their family members with grief counselors, supported them when financial uncertainty arose and - when there was nothing else they could do - just listened to their fears and worries. As our nation marks the 10th anniversary of the 9/11 tragedy, EBN examines the success of employee assistance programs, which gained even greater acceptance and utilization after the terrorist attacks. Employers and experts close to the tragedy share how EAPs helped employees in the immediate aftermath and continue to aid them today in a shaky economic environment.

    September 15
  • In some organizations, the complex, painstaking and costly business of producing key benefit documents like summary plan descriptions is accepted merely as a legally necessary but thankless task. You won't find that attitude anywhere in the vicinity of Michael Calhoun, director of benefit plan governance for AT&T and winner of this year's EBN Benny Award in the Judges' Choice category.

    September 15
  • OhioHealth's manager of benefits administration integrated all of OhioHealth's wellness initiatives into one program, branding the new program OhioHealthy, in 2006. The following year, she consolidated OhioHealth's three health plans into one. Meddock's accomplishments in these initiatives has earned her EBN's 2011 Benny Award for Benefits Leadership in Health Care.

    September 15