Employee benefits

The Department of Health and Human Services has sent to the Office of Management and Budget an interim final rule to adopt operating rules for the HIPAA electronic eligibility verification/benefit determination and claims status transactions.

The Department of Health and Human Services has sent to the Office of Management and Budget an interim final rule to adopt operating rules for the HIPAA electronic eligibility verification/benefit determination and claims status transactions.

At least 30% of employers are likely to stop offering health insurance once provisions of the U.S. health care reform law kick in in 2014, according to a study by the global management consulting firm.

Group medical premiums continue to increase nationwide, according to the May Employee Benefits Market Survey conducted by The Council of Insurance Agents & Brokers. Since the Patient Protection and Affordable Care Act was enacted last year, many carriers and brokers blame the legislation for the increase rates, states a CIAB news release.

Rep. Jim McDermott, D-Wash., has introduced bipartisan legislation that aims to bring parity and equal treatment under the tax code for health plan beneficiaries who are domestic partners and non-spouse dependents.

Plan sponsors say that they “find comfort” in their advisers and the services they deliver, according to preliminary results from a comprehensive study to research the benefits that plan sponsors gain from working with professional retirement plan advisers.

Employers are putting the onus on employees to help curb rising health care costs, and the inability to motivate and change employee habits is prompting concern, according to Aon Hewitt, a global human resource consulting and outsourcing business of Aon Corp.

The Department of Labor’s Employee Benefits Security Administration has extended the deadline for 401(k) plans to disclose fees and expenses to participants to 120 days after the Jan. 1, 2012 deadline. Originally, the deadline was 60 days after the effective date. As a result, plans now have until April 30, 2012 to provide the information.

Americans' use of medical services has not yet rebounded during the weak economy, health insurers say, in a trend that keeps the companies' costs down and could bolster their profits further this year.

Medco Health Solutions said on Wednesday that the loss of a major pharmacy benefit contract to rival CVS Caremark starting next year did not represent a trend.

Transamerica finds HR concerned that employees don’t have the tools they need to properly prepare for retirement

Chief financial officers at some of the nation's largest banks and financial services firms are downright bullish on the U.S. economy's overall outlook but nagging concerns about health care reform and the uncertainty of those costs are tempering their optimism.

The mid-size market is a bright spot for voluntary sales in an otherwise stagnant economy, according to LIMRA research.

One of the more contentious issues of last year’s health care reform debate, whether health insurance companies should be allowed to sell policies across state lines, was subject to a congressional hearing last week.

Despite state and federal mandates that require employers track data on when employees are out of the office, companies fail to use the data to manage the associated cost implications, according to a new survey.

Voluntary home and auto benefits are an increasingly important part of many brokers' product arrays - and revenue streams.

The idea I'm about to share with you is the second most valuable idea I'll provide you this month.

Defining and discovering "alpha" in participated-directed defined contribution retirement plans is perhaps the most difficult and important discussion in the industry today. Alpha in DC plans is very different than what asset managers pursue when they strive to beat their benchmarks, which is the hallmark of their abilities and ultimately defines their success. Alpha in DC plans is a measure of participants' success in replacing income within the plan.

With the uncertainty of today's market, guaranteed lifetime income options, or GLIOs, are emerging as a promising new way to help retiring employees protect their retirement income streams over a longer time horizon. EBA recently spoke with Ben Yahr, an actuarial adviser and part of Ernst & Young's Insurance and Actuarial Advisory Services practice, to find out more about GLIOs.

One skill that epitomizes the successful benefit adviser is selling. From the dollar-and-cents results to the art of persuasion, benefit advisers understand the sales process. So why not use that skill to assist human resource professionals in selling their C-suite on a corporate wellness program?