Employee Benefit News back issues from August 2008:
A career makeover.(Interview)
Aug 01, 2008; ... In today's struggling economy, the difficult reality is that HR/benefits pros should be as prepared as any other employee to make a sudden job change. However, potential layoffs aside, changes in your professional passions or simply a search for greener pastures made lead you to seek a new ...
Same-sex marriages raise questions for employers.
Aug 01, 2008 ... While same-sex couples in California rush to plan their marriage ceremonies, their employers may need to do some preparation of their own. In light of the state Supreme Court's recent decision to legalize same-sex marriages, HR/benefits professionals may face more questions ...
Public sector eyes DC plans to offset benefit costs.(defined contribution)(Statistical data)
Aug 01, 2008 ... Taking a page from the private sector's playbook, more state and local jurisdictions may start to call for their workers to take on more responsibility for financing their own retirement through defined contribution plans. Total assets in DC plans for public sector employers ...
Spotlight on brokers: Some HR/benefits professionals see brokers as sales people. Others see them as coaches. But above all, a broker should be a trusted employer partner.
Aug 01, 2008 ... How many times has a broker made the claim that his strongest attribute is his superior customer service? Probably so many times that the assertion doesn't set him apart. There are many brokers, however, that work with benefits professionals as a trusted partner and truly ...
Glasses go high-tech.(digital age)
Aug 01, 2008 ... The digital revolution and new electronics have contributed to an increased demand for better vision care and enhancements to eyeglasses. With celebrities endorsing frame lines, "I'm seeing people being more fashion-conscious this year than ever before," observes Dr. Paula ...
Cost cutting goes too deep: Patients in CDHPs forego medications, study finds.
Aug 01, 2008; ... Patients enrolled in consumer-driven health plans are more likely to skip medications - presumably to save money - than those in traditional plans, a new study from Medco suggests. Medco reviewed the pharmacy claims of more than 14,000 insured individuals who opted into a CDHP ...
Two isn't always better than one: Survey findings warn against duplicating EAP, mental health benefits.
Aug 01, 2008 ... Recent research indicates that employee assistance programs frequently aren't much different from counseling services available through employers' mental health benefits. Many EAP practitioners vehemently argue that the programs are distinct from mental health services in that ...
Attention all shoppers: How to be a smart PBM shopper.
Aug 01, 2008 ... With today's high gas prices, car buyers need to consider the total cost of vehicle ownership, not just the sticker price. Similarly, employers shopping for pharmacy benefits need to consider the total cost of the benefit management, not just the proposed discounts, fees and rebates. ...
Scaling new heights: Roth 401(k)s gaining ground in the retirement plan space.
Aug 01, 2008 ... Despite a stumbling start, the Roth 401(k) feature may have found its footing in the defined contribution plan space. Many retirement experts commonly assume that most large plan sponsors will eventually have to adopt a Roth 401(k), considering that more Americans will see the ...
Shaking out the dust: Regular analysis necessary to keep retirement plans fresh.
Aug 01, 2008; ... Retirement planning has changed dramatically in recent years. If your plan has been around for a while, you may have missed some opportunities to upgrade. It is important to analyze your plan regularly to make sure you are offering the best options available to your employees. Keeping up ...
Fee disclosure rules would complicate adviser dealings.
Aug 01, 2008; ... Concerns mount about planned ERISA changes among benefits managers and the brokers who serve them. Some say the Department of Labor's proposed changes to 408(b)(2) of ERISA - especially those dealing with advance compensation disclosure and conflict of interest reporting aspects - are ...
Workers deserve index funds with low fees and high returns.
Aug 01, 2008; ... U.S. Rep. George Miller of California is probably the best friend 401(k) investors have on Capitol Hill. He commissioned a General Accounting Office study on participant retirement readiness. He introduced the 401(k) Fair Disclosure Act, which would require service providers to describe ...
Don't become a cautionary tale: Sponsors must beware paying plan expenses from the plan.
Aug 01, 2008; ... An employer might ask: Can plan expenses be paid from my pension plan or 401(k) plan? Yes, they certainly can and, in fact, probably already are. However, the decision to do so must be made by the responsible plan fiduciaries who make sure that proper documentation and ...
Pain at the pump gets more acute: Still-rising gas prices encourage employers to think outside the box.
Aug 01, 2008 ... As gas prices nationwide climb north of $4 per gallon, most consumers cringe as they fill up. Although Louis Basso, president of The Alcott Group, a New York-based HR consulting firm, regrets he can't take away "the whole pain" of rising prices for his employees, he's trying to do all he ...
Group lobbies paid leave for workers who donate an organ.
Aug 01, 2008 ... A new outreach campaign from the American Society of Transplantation is encouraging employers of all sizes and types to establish a paid leave program for living organ donation. Twenty-nine states also have policies to give paid leave to organ donors, and many have related ...
How EAPs can combat the negative side effects of financial problems.
Aug 01, 2008; ... With the nation in an economic downturn, finances are forcing some individuals and families to take desperate measures to lessen their financial strains. In addition to walking away from their homes, they may be cashing out or borrowing against their 401(k)s or selectively picking which ...
Don't let technology remove the H' from HR.
Aug 01, 2008 ... We all know from personal and professional experience that technology is a blessing and a curse. MapQuest and online shopping - blessing. Viruses and system crashes - curse. Technology that provides effective communication to employees and allows benefit ...
No time for the summertime blues.(employee benefits)
Aug 01, 2008; ... Fifty summers ago, Eddie Cochran put forth a compelling and catchy thesis that "there ain't no cure for the summertime blues." For those of you feeling glum about your job during the dog days of August, I'm going to attempt to do what Eddie claimed couldn't be done. ...
A roundup of international benefit news.
Aug 01, 2008 ... UAE expands scope of mandatory health insurance The spread of mandatory health insurance in the United Arab Emirates has quickened its pace. Both Abu Dhabi and Dubai are implementing compulsory health insurance programs, with a nationwide program expected by the end of the year ....
Look, learn before you leap.(organizational communication)
Aug 01, 2008; ... Benefits today have become complicated, and so have employees' lives. This means companies have to be more creative than ever when it comes to getting the word out about the benefits that they offer. When discussing benefits communication, I ask my clients the following ...
Meet people where they are.
Aug 01, 2008; ... Here's the scoop. I had over 1,500 people eligible for a 401(k) plan, but less than 200 participating. The reason? First, no matching contribution, which presented a tough sale. Second, inadequate or no communication. This was my challenge when I started working at the Fairytale Landfill ...
Virtual reality: Online avatars emerge as effective communication, enrollment tool.
Aug 01, 2008 ... Imagine having a new member of your benefits staff that you don't need to train, pay or offer benefits. She'll work 24/7 and you can be 100% sure that no matter how many hours she works, her messages are consistent and compliant. Sound like an alternate reality? It is - virtual ...
AHIP shoots for the moon with new health insurance proposal: Model suggests $145 billion savings by 2015.(America's Health Insurance Plans)
Aug 01, 2008 ... In America's Health Insurance Plans' ideal world, the health care system is pay-for-performance, disease management and prevention are core values, and doctors, patients and payers would be able to compare treatments to guide clinical decisions. Sounds nice, right? According to ...
Don't mix business and blood pressure: Chronic disease and retail clinics shouldn't mix, doctors say.
Aug 01, 2008; ... Just under 2,000 retail clinics are expected to be in business by the end of 2008. Experience has shown that people are willing to pay for convenience and ease-of-care through clinics in locations like Target and WalMart. But should they consider using those same locations to manage ...
Achieving, maintaining behavior change for wellness.
Aug 01, 2008 ... One of the biggest challenges facing worksite wellness programs is motivating participants to embrace and sustain healthy behaviors. Contemplating a change is the easy part. Taking action and maintaining the change over time is much more difficult. Why is it so hard for Americans to make ...
Talking heads: Top management talks too much, listens too little, HR pros say.(human resource)
Aug 01, 2008 ... The famous "wah, wah, wah" voice given to all adults in Charlie Brown cartoons may be attributed to companies' top management if execs are not careful. Survey results from Boston-based Novations Group find that many HR/benefits pros feel top brass spends too much time talking to employees ...
Continuing education for benefits professionals.
Aug 01, 2008 ... The University of California, Irvine Extension, has announced the online availability of its human resources management certificate program. The program was developed in collaboration with the National Human Resources Association. "Because many of the students that are attracted ...
Two California benefits pros earn new position, industry certification.
Aug 01, 2008 ... ABD Insurance and Financial Services, a Division of Wells Fargo Insurance Services, Inc. and a provider of global risk management and employee benefits solutions, recently announced that Casey Rhodes has joined ABD's Redwood City, Calif., headquarters as the vice president of employee ...
From reality-show star to wellness director.
Aug 01, 2008 ... Viewers may sometimes forget that the contestants on the television show "The Biggest Loser" are also just regular employees. From that vantage point, contestants' triumphs and setbacks on the show may offer insights for employers trying to create a healthy workforce. Last year, ...
Reduce plan costs by conducting an RFP.
Aug 01, 2008; ... Prudent employers conduct quarterly meetings to review the investments available under a 401(k) plan, including the investment return and internal expense ratios. However, recent litigation should be motivating most employers to go beyond the current financial reviews and conduct ...