Our View

Time for Health Plans to Create a Unique Identifier Number

Written by Meryl Kaplan

Learn how to apply for an HPID, penalties for failure to obtain an HPID, how to prepare for Certification of Compliance, and plan sponsor action items. 

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UPDATED Compliance Checklist for Health & Group Benefit Plans

Sept. 23, 2014 through Jan. 1, 2015

A link to the new HHS and CMS quick reference guide with detailed steps on obtaining a controlling health plan HPID and the formal definition of a controlling health plan HPID have been added to this checklist intended to help plan sponsors manage reporting and compliance deadlines in the ever-changing health benefits landscape.

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HIPAA Compliance Takes on Greater Importance

HIPAA Privacy and Security for Covered Entities Compliance takes on greater importance due to requirements under new health care reform regulations. All plans must now obtain a certification of compliance with HIPAA electronic transaction rules from an independent vendor. See what steps you need to take in avoiding the risk of large monetary penalties for non-compliance.

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Evaluating Private Exchanges Checklist

As employers conduct due diligence to determine if a private health exchange is feasible for their organizations, Findley Davies' Private Exchange Checklist provides a list of criteria to consider.

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Paying Death Benefits to Beneficiaries

Written By Lisa Tomlin

If a plan participant dies in retirement (while receiving pension benefits), then the amount and timing of any benefit payable to a beneficiary will depend on the form of payment the participant elected. However, if the plan participant dies prior to retirement, the pre-retirement death provisions of the plan will dictate the amount and timing of the benefit payment to a beneficiary.

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Additional Pension Funding Relief on the Horizon?

Written By Blaine Brickhouse, FSA

On July 10, 2014, committees in both the House and Senate approved similar – but not identical – bills which would extend pension funding relief for several more years.

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Dodd-Frank Pay Ratio Disclosure Requirements - Is it really worth it?

Written By Rob Rogers

Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act requires public companies to disclose the ratio of the CEO's total compensation to that of the median of all other employees in the work- force. Against the back drop of the financial collapse in 2008, this massive piece of legislation sought to curb abuses that led to the collapse and also to protect consumers from misdeeds within banking and corporate entities.

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Non-qualified Deferred Compensation Plan (NQDC): An Essential Tool for Attracting, Engaging, and Retaining Top Talent

Written By Tammy Michalak

The need to attract, engage, and retain top talent is paramount in today's dynamic landscape. In this competitive landscape for top talent, nonqualified deferred compensation (NQDC) can be one of the most important tools in an employer's toolbox for finding and retaining the best and brightest employees.

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Defined Benefit Administration Services

As organizations continue to do more with less, pension plan administration services are one of the areas to consider using an outside resource to minimize costs and free up time for your team to focus on other priorities.

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Terminated Vested Buyouts Timeline

For defined benefit retirement plan sponsors who desire to distribute terminated vested buyouts by the end of a 12/31 fiscal year, this timeline begins with the end in mind.   The process begins with a buyout analysis, its impact on the plan and company, and potential accounting charges.

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Ways to Improve Participant Retirement Outcomes

Everyone knows that they want to retire. But, how do they go about preparing to do so? A big key to that answer is employer-sponsored retirement plans, communication, and education.

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