Business Insurance

Login  |  Register Subscribe

Most Read Benefits Management News

N.J. governor vetoes state health insurance exchange legislation

Published May 11, 2012 CST

TRENTON, N.J.—New Jersey Gov. Chris Christie on Thursday vetoed legislation, that would create a state health insurance exchange where insurers could provide coverage to individuals and small employers.

More employers offering wellness initiatives: Study

Published May 11, 2012 CST

While more companies are turning to wellness programs to curb employee medical costs and improve their workers' general health, relatively few are measuring the actual return on investment those programs generate, according to a study by the Brookfield, Wis.-based International Foundation of Employee Benefit Plans.

Average PPO cost per family hits all-time high: Milliman

Published May 15, 2012 CST

While cost increases for families enrolled in employer-sponsored preferred provider organizations have slowed since 2010, average total costs per family still hit an all-time high, according to a report released Tuesday by Seattle-based Milliman Inc.

Towers Watson to purchase Extend Health, operator of private health insurance exchanges

Published May 14, 2012 CST

NEW YORK (Reuters)—Towers Watson & Co. said on Sunday it would buy Extend Health Inc., operator of the largest private Medicare exchange in the United States, to boost its health benefits offering for employers.

PBGC moves to take over Dewey & LeBoeuf's pension plans

Published May 10, 2012 CST

WASHINGTON—The Pension Benefit Guaranty Corp. said Thursday that it intends to take over and terminate three underfunded pension plans sponsored by financially ailing law firm Dewey & LeBoeuf L.L.P. in New York.

Regulators provide guidance on summary of benefits rules

Published May 14, 2012 CST

WASHINGTON—Adding additional certainty to previous guidance, federal regulators made clear last week that they will not impose financial penalties on employers that do not fully comply with health care reform law requirements that will require them to distribute to employees a new summary of benefits and coverage statement.

Couple retiring in 2012 needs $240,000 to cover medical expenses: Fidelity

Published May 09, 2012 CST

A 65-year-old couple retiring in 2012 without employer-provided retiree health insurance will need about $240,000 to pay future medical-related expenses, Fidelity Investments said in an analysis released Wednesday.

Health care reform act funding poses many issues

Published May 06, 2012 CST

WASHINGTON—No federal law comes close to the 2010 health care reform law when it comes to its potential impact on employer-sponsored health care plans and the issues confronting them.

Pension plan funding levels slip in 2011: Towers Watson

Published May 10, 2012 CST

Hurt by falling interest rates, which boosted the value of plan liabilities, as well as mediocre investment results, the funding levels of the nation’s largest employer-sponsored pension plans slipped in 2011, according to a Towers Watson & Co. analysis.

Employers urge Congress to pass pension funding relief legislation

Published May 15, 2012 CST

WASHINGTON—More than 200 employers and trade associations have signed a letter urging federal lawmakers to pass legislation that would allow pension plan sponsors to use higher interest rate assumption in valuing plan liabilities, cutting plan contributions by billions of dollars.

15 health insurers in N.Y. to pay $2.7M for violating 'Timothy's Law'

Published May 09, 2012 CST

ALBANY, N.Y.—Fifteen health insurers in New York will pay a total of $2.7 million to the state's Department of Financial Services for failing to notify small businesses of available coverages for mental illness and children with serious emotional disturbances.

Plan Sponsor Council of America President David L. Wray to retire

Published May 14, 2012 CST

CHICAGO—David L. Wray, president of the Chicago-based Plan Sponsor Council of America will retire at the end of September.

EBRI's Salisbury honored with public service award

Published May 09, 2012 CST

WASHINGTON—Dallas Salisbury received the International Foundation of Employee Benefit Plans' Public Service Award at the group's meeting Tuesday in Washington.

Business Insurance In FOCUS video: Alternative benefit financing

Published May 08, 2012 CST

In our latest weekly video, we examine innovative approaches employers are using to rein in their health care costs

Pension plan funding levels fall in April: Milliman

Published May 09, 2012 CST

Funding levels of pension plans sponsored by large publicly held U.S. employers fell in April as lower interest rates fueled a rise in plan liabilities, Milliman Inc. said in an analysis released Wednesday.

COMMENTARY: Health care cost increases may be easing

Published May 13, 2012 CST

Making accurate predictions about future health care cost increases is fraught with peril.

Company to pay $1.3M for violating San Francisco's health care spending law

Published May 07, 2012 CST

SAN FRANCISCO—A janitorial services firm has been ordered to pay $1.3 million to nearly 300 current and former employees who were denied health care expenditures guaranteed to them under San Francisco's health care spending law.

Economy may not be driving force behind lower medical utilization rates: Expert

Published April 27, 2012 CST

NEW YORK—The prevailing theory that economic pressure and a floundering job market are responsible for drop-offs in medical utilization—and that utilization will spike once the economy recovers—may be less accurate than once believed, said Peter Orszag, former director of the federal Office of Management and Budget.

Drug benefit reviewed by employers due to tax change

Published May 06, 2012 CST

Employers are turning to alternative financing strategies as they face the loss of a federal tax deduction in 2013 for a subsidy they receive for providing drug coverage to Medicare-eligible retirees. While most companies are implementing an employer group waiver plan, many anticipate ending direct sponsorship of the drug benefit by giving a defined contribution to retirees to purchase coverage…

Wellness programs get boost from new technologies

Published April 29, 2012 CST

NEW YORK—Companies looking to maximize the effectiveness of their employee wellness initiatives must be willing to incorporate new technologies and innovative program designs, a panel of experts said last week at the Northeast Business Group on Health's 2012 Health & Wellness Benefit Conference in New York.

PBGC faces big hit if Hawker Beechcraft folds pension plans

Published May 04, 2012 CST

WASHINGTON—The Pension Benefit Guaranty Corp. would be hit with a loss of more than $500 million if financially troubled aircraft manufacturer Hawker Beechcraft Inc. terminates its underfunded pension plans.

Wellness programs raise legal issues for employers

Published April 01, 2012 CST

As employers intensify their focus on wellness as a means of reducing health care costs, lawsuits filed by workers, regulators and unions are becoming more common, wellness compliance experts say.

Illinois governor proposes raising employee pension contributions, retirement age

Published April 24, 2012 CST

SPRINGFIELD, Ill.—Illinois Gov. Pat Quinn last week announced a reform proposal for the state's five retirement systems that includes increases in employee contributions and the retirement age.

Wellness, brain health firms partner on tech offering

Published May 03, 2012 CST

SAN FRANCISCO—Two San Francisco-based companies have partnered to combine employee wellness efforts with brain health.

WellPoint uses Watson computer for intuitive health support

Published April 29, 2012 CST

NEW YORK—Without providing much in the way of specific dates or benchmarks, WellPoint Inc. Chief Information Officer Andrew J. Lang last week gave attendees of the Northeast Business Group on Health's 2012 conference and exposition in New York an update on the health insurer's progress in integrating the IBM Inc. Watson supercomputer with its patient databases.