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Welcome to the Institute for Human Resources Benefits: Cost Containment, Audits and Legal Risks’ 4th virtual event. Thank you to everyone for your participation and support.
The Institute is committed to furthering the deploying and adoption of best practices across the Benefit vertical. The Institute provides an opportunity to bring together industry thought leaders in a year-long community that promotes best practices among vendors and HR Professionals with a series of research, webcasts, presentations, virtual events, awards and market research. This introduction to the event will give you an overview of the Institute for Human Resources certification program as it specifically relates to Benefits Cost Containment, Audits and Legal Risks. You will be introduced to the Advisory Board, learn about the opportunity to become certified within the IHR and see who is speaking and their topics. You will be given guidance on how to chat online with colleagues and access the virtual exhibit hall. You will have the opportunity to ask questions as it relates to the overall program, prior to its commencement. You can access all of the archived sessions where we launched this Institute in May, 2011 with 16 sessions followed by our second event in August and our third event in November, where we again had some excellent speakers and sessions. The Institute will be offering in total over 80 hours of content over the 12 month period. There will be three other virtual events in 2012, May 9 & 10, August 7 & 8 and November 7 & 8. There will also be 2 webcasts per month with additional content and best practices.
This virtual event introduction is not eligible for an HRCI credit.
Now, more than ever, it's important to know how health care reform will affect you, your employees and your business. Don't miss this interactive webinar discussing the sweeping transformations involving health care changes and employee benefits. In this webinar, our expert on compliance, Penny Boyd, will guide you through topics such as: W2 reporting, uniform summary of coverage, open enrollment checklists, dependent issues, and focusing on how grandfathered, non-grandfathered and self-insured plans must comply with new regulations.
Our speaker, Penny Boyd, is CBP's compliance specialist. As Compliance Coordinator, she brings over 25 years of experience in Employee Benefits, Compensation and Human Resources to the team. She is a Certified Employee Benefits Specialist and a longtime member of the International Foundation of Employee Benefits. Penny's most recent work experience was at The Dannon Company, Inc., as Manager of Employee Benefits. She graduated from the University of Arizona with a BA in Anthropology and studied Law after graduating.
2012 Healthcare Reform Issues
- W2 Reporting Requirements
- Summary of Benefits and Coverage
- Non Discrimination Requirements
- Comparative Effectiveness Tax
- Quality of Care Reporting
- Medical Loss Ratio
- State law changes
IRS, DOL and HHS recent notices and guidance
- HRA limits for Medicare Secondary Payer changes
- HDHP and HSA limits for 2012
- Supreme Court Challenge to Healthcare reform
- Recap of 2011 Year requirements
After the presentation the PowerPoint slides and audio will be made available to any of those who wish to review it again.
In a 2011 survey of HR professionals by the Employers Resource Assoc., FMLA ranked as their number one issue, with intermittent leave being a significant concern. In addition, the average verdict for FMLA cases related to wrongful termination is approximately $335,000, and some industries have an average of one-third of their staff on FMLA leave at any given time. FMLA can be a costly issue for employers, resulting in countless administrative hours, lost productivity from absent employees, additional cost related to temp workers and increased liability. Intermittent leave in particular can be an administrative nightmare, with tracking of time in as little as 15-minute increments required under the law.
In this informative session, Jim Brown, attorney and senior vice president of FMLASource, a ComPsych company, will share proven strategies for reducing intermittent FMLA leave. The presentation will cover:
• Spotting the telltale signs of questionable intermittent leaves, including “Friday migraine syndrome” and other typical patterns.
• Tips to establish employee accountability, including documentation and deadline adherence.
• Innovative ways to get employees back to work sooner, including referrals to work-life and EAP benefits which can resolve personal issues that complicate FMLA leave.
As senior vice president of FMLASource, an affiliate of ComPsych, Jim Brown helps employers strategically minimize the cost and frequency of Family and Medical Leave absences as well as other types of leave. Working with employers of all sizes, from Fortune 100 to smaller corporations, Brown advises on effective FMLA administration and is a nationally known expert on FMLA law and management of related absences.
This webcast is not approved for HRCI or IHR certification. The archive will not be available for viewing
This power packed session will cover how legal and identity-theft protection can increase company profitability. It will show HR managers and business owners why with these kinds of protections help the employee become more productive and happier at work. It will discuss why HR managers will be able to take their “psychologist couches” out of their offices and focus on other issues that will help increase profitability for the company. Most of the issues that employees face today can be resolved with a few preventive phone calls when the problem first arises. Let me explain, if an employee receives a DUI they will be nervous to talk with their HR manager for fear they may lose their job. However, with our service they would be able to talk with an attorney at the very moment they were pulled over. Now this service is NOT a “get out of jail free card”, however it can help to talk with an attorney that night so they won’t get themselves in more trouble. Or, what if your key employee is being audited by the IRS? Are they going to be completely focused at work? Probably not. However, with our service they can call and talk with a tax attorney without paying an extra dime. Tax attorneys are $650 or more per hour, but not with us. Now, how much is that worth to the key employee and the company that he/she can talk with a tax attorney as soon as they get the letter from the IRS? What would you do if CPS shows up at your door because your ex-spouse is accusing you of beating your kids so they can gain a custodial advantage from the courts? Well, with this service you can have an attorney on the phone within 3 minutes, 24/7, for emergency situations. What is that worth? Or, let’s say an employee gets in a major car accident which is not his fault and someone in his car dies. He has insurance, but the state hits him with involuntary manslaughter (this happens all the time). How will he pay for an attorney? We give every employee 60 hours of civil lawsuit protection from day one. That increases by 60 hours for the next 4 years so that they will have 300 hours of civil lawsuit protections as long as they keep the service. There are many other ways we can help employees and your company, so be sure you are in attendance for this incredible session.
Long-anticipated plan and participant fee disclosure regulations become effective in 2012, aimed at providing better fee transparency to plan sponsors and participants. Will you be ready? This webinar will help educate and prepare plan sponsors for these new regulations.
Plan sponsors face challenges such as demands for greater transparency, increased litigation, hidden conflicts of interest, and higher fiduciary standards, this webinar is designed to educate plan sponsors on these new regulations.
Attendees of this webinar will learn:
• What the new regulations require
• What their responsibilities are with the new regulations
• Best practices for documenting compliance with the new regulations
• Best practices for determining the “reasonableness” of fees
The Employee Retirement Income Security Act (ERISA) requires retirement plan sponsors engage in a prudent process to manage and monitor the retirement plan. Plan sponsors must ensure that arrangements with their service providers are “reasonable” and that only “reasonable” compensation is paid for services. The plan fee disclosure regulation requires service providers to disclose information about the fees they charge and the services they provide. An additional regulation requires greater fee disclosure and transparency be provided to plan participants.
Portfolio Evaluations, Inc., a leading independent investment consulting firm, will host the session. PEI operates in a manner that is free of influence from investment management firms, mutual fund companies, broker-dealers, insurance companies and other service providers, uniquely positioning the firm to objectively educate plan sponsors on this subject. PEI was founded in 1992 and currently has 180+ clients in 26 states.
HR professionals who work with ERISA-qualified retirement programs should consider attending.
Employers have had more than a year to digest and analyze the Patient Protection and Affordable Care Act (PPACA) since President Obama signed it into law in early 2010. Employers are particularly interested in understanding what the “Pay or Play” and “Cadillac Tax” provisions will mean for the long-term prospects of their healthcare programs. There has been a great deal of commentary and speculation on whether the Act will provide the impetus for many large employers to eliminate group health benefits. The Act’s provisions are sufficiently complex and point to a need for a comprehensive data-driven approach to model the interaction of its benefit, compensation, tax, and regulatory aspects on the costs to “Pay or Play.”
In this session, Christopher Justice will review the relevant provisions of the Patient Protection and Affordable Care Act (PPACA) and discuss what employers must consider when deciding whether they will comply with legislative mandates (“Play”) or pay the financial penalties for noncompliance (“Pay”). Mr. Justice will then present the capabilities of Thomson Reuters Pay or Play Modeler and discuss observations brought to light for large employers through alternative modeler scenarios. Finally, he will lay out the various options available to employers facing the Pay or Play decision, point out the broad implications for the employer, and touch on the impact on employees of each option. Mr. Justice addresses the following elements for consideration:
• Lower group health costs relative to projected cost of Exchange plans.
• The impact of tax favored treatment of existing group health benefits
• Richer benefits for employer group health plans relative to federally subsidized Exchange plans
• Inapplicability of Federal subsidy to large employer groups
• Impact of “paying” on lost time and productivity benefits
If clients had no problems, they would not need our help. There are a variety of problems that may be encountered in practice that can be addressed by nonqualified deferred compensation (“NQDC”) arrangements. A NQDC arrangement is essentially a compensation arrangement that (i) provides for the payment of cash, property or benefits in a calendar year which is later than the calendar year in which the services being compensated are performed, and (ii) does not come within one of the categories of deferred compensation arrangements which are “qualified” under applicable tax statutes. The following illustrates a variety of problems for which NQDC can be a solution.
A. Employee Problems.
1. The Retirement Gap. My annual social security benefits and qualified plan benefits (such as pension or profit-sharing plans) after retirement will be small compared to my current salary and will not provide me with enough annual income for retirement. What can I do?
2. My Qualified Plan Benefits Are Disappearing. The qualified plan rules continue to change, and I am afraid that I will not be able to receive the level of benefits from my qualified plan that I need to retire. How can I make up the difference?
3. My Faith in Social Security and Government Health Care Programs Is Shaken. In planning for retirement, I always counted on receiving something from Social Security, and I always thought Medicare would cover my health care costs. What if they collapse or simply fail to provide the level of benefits expected?
4. Anticipate Future Expenses. I have elementary school age children who have no athletic abilities and I am now concerned about how I will be able to pay for their college education. How can I plan for this?
B. Employer Problems.
1. Key Employees Keep Leaving. Several of our key employees have quit and gone to work for the competition. This is very expensive. For example, if a sales representative quits we have to recruit a new sales representative who will need to be trained and introduced to the sales territory and the customers, all while trying to keep the customers happy. How can we create a financial incentive for our employees to stay with the company?
2. Enforcing Covenants Not to Compete and Confidentiality Agreements. After a key employee retires or otherwise terminates employment with our company, it is very important that the employee (1) not go to work for the competition, and (ii) not disclose any trade secrets, marketing strategy, customer information, etc. We talked to our attorney who included a covenant not to compete in all of our employment contracts with key personnel in states where this is permissible, but even in those states the covenant is only for a limited period of time and only applies within a limited geographic area. The attorney said the rules are not clear on when a covenant will be enforced and to what extent it will be enforced. For example, although we wanted the covenant to apply for more years and to cover a bigger geographic area, the attorney said that even the time and distance terms set out in the employment contracts could be second-guessed and deemed unenforceable by a court. The attorney could not give us any guarantees. Furthermore, the attorney said that because of all the uncertainty surrounding covenants not to compete, it can be expensive to try to enforce a covenant not to compete and that litigation often occurs. This is an important issue for the company. Is there anything else we can do to protect our business from competition from former employees?
3. Employee Recruitment and Retention. We want to recruit a key employee. We will need to make a significant financial commitment to hire this person. How can we attract the employee away from our competition and what can we do to make sure she stays with the company long enough to justify our financial outlay? In some cases, we want to recruit a key employee who we know will forfeit certain qualified plan or NQDC plan benefits or equity interests upon termination from their current employer. What can we offer to make this up to them?
4. Giving Employees “Skin in the Game.” We want our employees to have a financial interest in the successful operations of our business. Their long-term compensation should be tied to the long-term success of the company and be at risk if the company should go down. How can we accomplish this?
5. Recruiting or Motivating Employees While in a “Cash Crunch.” We want to recruit a key employee. As a start-up business we will be in a “cash crunch” for several years. How can we put together a compensation package that will attract a high quality executive without draining the company’s cash during the start-up period? Alternatively, the company is doing well but is at a difficult stage. The company needs to keep expanding but the company is not big enough yet and does not have a long enough history to “go public.” The company has already borrowed substantial amounts from its bank and the bank is reluctant to loan more money for working capital. The company wants to create performance incentives for its valued employees, but an annual cash bonus program would be another cash drain on the company. How can we motivate and reward the employees without exacerbating the cash crunch?
6. Returned Qualified Plan Contributions. Many of our key employees are receiving a portion of their 401(k) contributions back because many of our rank and file employees chose not to participate in our 401(k) plan. What can we do to avoid this problem?
7. Financial Institution. We want to attract and reward our key employees but want to make sure that rewards are tied to the long-term stability of the company and are available for claw back if the current financial performance of the company turns out to have been misrepresented.
8. Early Retirement. The company needs certain employees to retire and allow other individuals to fill those positions. However, if an employee retires early (i) in some cases the employee might forfeit certain qualified plan benefits, and (ii) in some cases, benefits will not be payable for several years (after the employee attains retirement age). What type of incentive can we offer to encourage these employees to retire early?
This webcast will not be availble in archives
Many employers during this recession cannot afford to increase benefits and provide a cost-benefit analysis to their CFO and Board of Directors.
Employers are already overwhelmed with all the complexity and rules that will change their benefits plans forever. So why would any employer spend
Time and effort to add an additional voluntary benefit at this time?
Because employees are demanding it and it does not impact negatively or at all with any health care benefits.
Its called discount shopping. Its the hottest benefit because its growing faster than all other voluntary benefits and can be easily be cost justified to the CFO of your company.
Participants will receive access to several articles and studies on Discount Shopping. They will receive a complimentary copy of the PPT presentation and be able to ask indepth Questions. A copy of all Q&As will be provided to all participants. A list of the most experienced sources and references for Shopping Benefits will also be provided.
How do I convince you that discount shopping will be a valued employee benefit? Black Friday 11/25/11 showed a 7% increase in both online and offline consumer shopping even during a recession and unemployment over 9%.
But can an employer “cost justify” offering Discount Shopping as a voluntary employee benefit. Wouldn’t that be distracting and disruptive to employee’s productivity?
To Look at a Disruptive Solution?
A Disruptive force in social innovation might mean that you consider new Employee benefits and productivity enhancers that might at first glance appear to be “counter intuitive”. After all, many employers are currently restricting and limiting the use of Social Media by its’ employees. Many employers feel that Social Media is distracting and a “time waster” for employees.
Although it has been nearly two years since the Patient Protection and Affordable Care Act was passed, a myriad of questions remain. This session will explore the current judicial, legislative and administrative status of PPACA and predictions for the future. Specifically, the session will first analyze the worst case scenarios that could result from various Supreme Court rulings on the constitutionality. Secondly, this session will predict whether there may be any legislation this year that could impact your company's health plan. Finally, and most importantly, this session will explore current and future regulatory and non-regulatory actions.
In addition to looking at 2012, this presentation will focus on the coming years and what your plan will need to do to comply with health care reform, assuming that the Supreme Court upholds it. Throughout the presentation, the focus will be on the practical impact that changes to PPACA and regulations will have on your company’s health care plan. Changes to your health plan will include plan design and cost sharing changes. In addition, this session will explore many of the new notice and reporting requirements to participants and the federal government and the guidance that the Administration may issue. This session is ideal for health and welfare specialist and HR generalist.
In this session, you will learn what you need to do to comply with new guidance on health care reform and how to plan for the future. You will also learn what new notice and disclosure requirements apply to you as an employer with respect to health care coverage for your employees.
Attendees will learn how Medical Travel can provide high quality options for care in the US and abroad that will result in immediate and significant cost savings. Topics discussed range from an initial discussion as to what Medical Travel is including which types of procedures are good candidates. Attendees will also be able to quickly determine whether Medical Travel would benefit their organizations. Attendees will get a good idea of the cost savings that are possible, along with the quality that hospitals provide. The presentation concludes with detailed recommendations regarding implementation.
Session is presented by Wouter Hoeberechts, CEO of one of the leading Medical Travel companies: WorldMed Assist (http://www.worldmedassist.com). WorldMed Assist arranges high quality surgery that is affordable and is a California based company that quickly became one of the leading medical tourism companies in the US with several hundred satisfied patients. WorldMed’s goal is to provide the highest customer service in the industry. Our team of case managers consists of Registered Nurses who are supported by our award winning Patient Management System.
WorldMed Assist is the medical travel partner for insurance company Swiss Re and several self insured corporations, offering a turn-key solution to access high quality, lower cost medical procedures with advantages for both employers and employees.
WorldMed Assist enabled the first American to have a liver transplant in India in the summer of 2007, and several high profile cases followed. WorldMed and its patients have been featured on BBC, ABC News, Fox News and NPR’s All Things Considered.
Attendees will walk away from this presentation with a solid understanding of Medical Travel.
How to be prepared for what will soon be forthcoming (unless the DOL changes its mind again).
We will begin with an overview of the recent rules and regulations regarding fees and their disclosure from plan sponsors to plan sponsors as defined by the Department of Labor that pertain to qualified retirement plan covered by ERISA (the Employee Retirement Income Security Act).
We will define for you who must reveal what to whom and by when. It should be noted the Department of Labor has (for now) rescheduled their target date from April 2012 to July 2012.
We will discuss the impact on Human Resources of all these fees as well as the reporting requirements and what proactive paths they should consider pursuing to be in compliance by the defined deadline.
The impact of these multiple rules and regulatory changes will be felt across the expanse of qualified retirement plans
And we will share all this information, and our insights, with you in a power point presentation with hard copy available as well.
All this information and insights will be shared with you from two distinct perspectives: from the legal requirements of established legal counsel and a fiduciary perspective of a plan advisor both of whom possess more than a quarter century of practical experience in the qualified plan arena.
You will become educated as to extent of the fees and how (and by when) they need be disclosed to plan participants (and Plan Sponsors).
And when, as the Department of Labor has recently hired one hundred agents, you will be prepared for their eventual arrival at your doorstep
In plain English.
Plan documents, summary plan descriptions, summaries of material modifications, Form 5500...these are just some of the required documents and disclosure requirements that employee benefit plans are subject to. Whether you are new to the employee benefit community or are a seasoned employee benefit professional, there are always challenges in complying with these ERISA and Internal Revenue Code requirements. In this session, Jason Rothman, an employee benefits attorney from the national labor and employment law firm of Ogletree, Deakins, Nash, Smoak & Stewart, P.C. will discuss how to comply with all of these requirements. Among the topics Jason will discuss include the following:
(1) What is and what is not a properly drafted employee benefit plan document and summary plan description. In addition to analyzing the plan document and summary plan description requirements, Jason will discuss drafting "best practices" and the value of wrap plans.
(2) How to comply with employee benefit document disclosures and elections on an electronic basis. While there is a significant cost advantage in using electronic methods of communication with plan participants, there are certain IRS and DOL requirements that must be satisfied. In this portion of the program, Jason will discuss just how employers can satisfy these requirements.
(3) How to correct plan failures under IRS and DOL correction programs. Plan failures are something that commonly occur and the IRS and DOL have programs to fix those errors in an efficient manner. In this portion of the program, we'll discuss 3 of these programs - the Employee Plans Compliance Resolution System (EPCRS), the Delinquent Filer Voluntary Compliance Program (DFVCP) and the Voluntary Fiduciary Correction Program.
Staying in compliance with Family Medical Leave Act (FMLA) regulations requires human resources professionals to consider its requirements and nuances on an ongoing basis. During this session, attendees will delve deeper into the intricacies of Family Medical Leave Act and learn best practices for staying in compliance.
This session will cover:
• An overview of the Family Medical Leave Act entitlements, including the provisions set forth by the Family Medical Leave Act of 1993, the National Defense Authorization Act of 2008 and the National Defense Authorization Act of 2010
• The interplay of Family Medical Leave Act with other statutory requirements, including ADA/ADAAA, HIPAA, COBRA, USERRA, and workers’ compensation
• The relationship of Family Medical Leave Act with company benefits, including short-term disability, long-term disability and other paid time off programs
• The use of intermittent leave and the recertification process to ensure win-win situations for employees and employers
• Required and optional components of company policies and protocols
After this session, attendees will be able to:
• Comply with overlapping employment statutes, including FMLA, ADA, HIPAA, COBRA, USERRA and workers’ compensation
• Administer company benefits, including FMLA, short-term disability, long-term disability and paid time off programs
• Manage intermittent leave more effectively
• Design a company specific policy in compliance with Family Medical Leave Act
The retiring employee is eligible for Medicare but often does not understand the different plans available under Medicare, and turn to HR for help. HR, in most instances, also is not knowledgeable in this area unless they have a retiree program, which is not typical for most U.S. employers. In addition, active employees over age 65 are eligible for Medicare and need assistance understanding the rules surrounding Medicare eligibility for active employees.
The discussion would focus on the following:
1). MSP rules – Medicare Secondary Payor Rules explaining when Medicare is secondary to group health plans for active employees or former disabled employees
2). For active employees over age 65 that remain covered by the group health plan and do not sign up for Medicare Part B or D when first eligible, the post employment Medicare enrollment period available to them to avoid late enrollment penalties.
3). For active employees that have Medicare as their primary insurance provider and for retiring employees, a description of the plans available under Medicare: Original Medicare, Medicare Advantage HMO plans and Medicare Advantage PPO plans.
4). For those choosing Original Medicare, an explanation of Medigap policies which are usually purchased to cover the out of pocket costs (deductible/co-insurance) not covered by Medicare.
5). In addition, it is essential for Medicare eligible individuals to carefully choose their Medicare Prescription Drug plan (PDP). Each PDP has a prescription drug formulary list at various tier levels. Certain prescriptions may be covered by one carrier and not at all by another, or one carrier may have a managed care provision applicable to the drug (such as a quantity limit) while another may not have any limitations. It is also important to calculate the annual costs of the prescription drugs determine if coverage should be purchased during the “donut hole” or coverage gap that occurs with all Medicare Prescription drug plans.
6). Medicare Creditable Coverage letters that must be provided to employees at specified times during the year.