Employee benefits

On July 1 - when fee disclosure regulations go into effect - there may be questions about advisers trying to reduce their fees. They should keep in mind that in some cases a plan sponsor's ERISA counsel may perceive that action as an admission of guilt that previous fees may have been excessive or unreasonable.

Smaller employers have historically been hesitant to self-fund their health plans because they commonly perceive it as suitable only for large companies. Done right, self-funding an employee health benefit plan can be a smart long-term strategy.

There are questions about the future of the group long-term care market, as two insurers have stopped offering the product in the past 17 months.

While the ever-rising cost of health care continues to be a top concern for employers and employees alike, there is at least one employee benefit headed in the opposite direction. "I always facetiously use the phrase 'life is cheap,' says Bob Harnett, vice president of Lutherville, Md.-based Silberstein Insurance Group. "Life insurance on an employer-paid basis has gotten to be very inexpensive."

Ellen M.* is a 47-year-old single mom whose four-year-old son is diagnosed with something called pervasive development disorder not otherwise specified, a disorder on the autism spectrum. While he's very verbal, he sometimes struggles with expressing his needs. He has behavioral issues and several other medical issues, such as vision and gastrointestinal problems.

Enrollment in health savings accounts and health reimbursement arrangements continues to grow, but contribution patterns to these account-based health plans are changing, according to a new report from the nonpartisan Employee Benefit Research Institute.

Information commonly exits in silos: Pharmacy benefit managers, health plans, and absence management, disability and enrollment vendors generally all operate independently and invisibly to other health care entities that are caring for the same population of patients.

For large, self-insured employers, vendor management involves identifying and negotiating better arrangements with third-party vendors who administer benefits. A report from The Advisory Board Company shows that while vendor management is often overlooked by plan sponsors, the process can yield savings of between 5% and 10%.

In the information age, perhaps the only system left that hasn't gone completely digital or to the cloud is health care. Even insurance companies, who warehouse massive amounts of data, rarely share it with other insurance companies when an employee moves from one job to the next. And for patients to gain access to their own heath records, which largely are maintained on paper, they have to go through a lengthy process - on paper.

Among the most controversial requirements of health care reform is a preventive care provision that requires all insurers and nongrandfathered health plan sponsors to cover contraceptives without a deductible or copayment. Coverage includes all FDA-approved contraception methods, sterilization procedures, and patient education and counseling.

You may not be hearing it directly from your employees, but most are not happy with the customer service health plans provide. A new research report published by Temkin Group, a consulting firm, rates the customer experience of 206 large companies across 18 industries.

Protesters packed up signs and TV talkers put away their microphones Wednesday night, the beginning of the long wait till the Supreme Court decides the fate of the Affordable Care Act.

Just as bright yellow “Don’t Tread on Me” and American flags flew high in front of the Supreme Court this week, so did the tempers of the crowds of supporters and opponents of health care reform gathered outside.

Creating an adequate amount of income for individuals to live comfortably in retirement will require a combination of several income producing strategies, as well as knowing what constitutes realistic and "safe" withdrawal rates from retirement plans, according to a new issue brief by the Institutional Retirement Income Council.

As the Supreme Court wraps up oral arguments on the core of the Patient Protection and Affordable Care Act — the minimum coverage provision that will address the individual mandate — brokers express their concern surrounding health reform and how they are preparing clients for the future with or without it.

The U.S. Supreme Court on Monday appeared prepared to decide the fate of President Obama's sweeping health care law rather than delaying for years a review of the mandate that Americans buy insurance or pay a penalty.

Employee benefit brokers and advisers are paying close attention to the proceedings as the Supreme Court takes up an historic test of whether health reform is valid under the country's Constitution.

As the 2012 Republican presidential hopefuls travel across the country to make their case for the White House and health reform moves forward, have you looked into the future of YOUR business? Have you considered the potentially devastating impact to your business? How about the possibilities and tremendous opportunities to continue making a difference in the lives of your clients and prospects?

Lawmakers are investigating three pharmacies in Maryland and North Carolina for diverting critical but scarce drugs from patients to wholesalers, who are then able to resell the medicine at sometimes big markups.

Employers across America face unprecedented challenges in providing competitive employee benefits while still controlling costs. Public-sector employers face additional obstacles from revenue shortfalls and increased public scrutiny of government spending. Yet employers, both public and private, have access to many proven solutions that can help them control and even reduce costs while continuing to offer a strong benefits package. …