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"National Health Care Reform and Legislation"
A Detailed Summary Developed by The Ross Companies

More Details from
– The New York Times

The President signed H.R. 3590 on March 23, 2010 and H.R. 4872 on March 30, 2010.

Health care is forever changed in our country and these changes will ultimately impact 95% of all residents and all employers who now or will offer health care plans.

While the thrust of the legislation is to cover 32 million uninsured residents, employer plans are definitely impacted and are expected to play their role as well as Medicare and Medicaid, insurers, drug companies and all those involved in health care delivery.

The Ross Companies has been tracking the legislation from the beginning and has provided earlier perspectives and analyses.  Now that the laws are passed and poised to take effect, we wanted to provide our summary of major changes as they impact employer-provided plans.

This link brings you to our detailed summary which is organized by year covering 2010 through 2018. 

Ultimately employers will need to rethink not only their medical plans to comply with the legislation, but also their employee benefit strategy to determine how their plans can help attract the best workers, keep them well, get them healthier and have more affordable health plans.

Those wishing to learn more about the legislation should click on this link, for various analyses in The New York Times.

"Health Care Reform Analysis of Key Issues"
A Monograph Developed by The Ross Companies

Comparison of Senate and House Bills
– The New York Times

The House completed its plan and now the Senate is busy drafting a proposed health care reform package.  The Ross Companies has been tracking the legislation from the beginning.  Now that we are closer to understanding the range of what might occur, we wanted to share our observations and thoughts.

This link brings you to a brief monograph surveying key provisions and major issues from an employer perspective.  While the primary thrust of the legislation is to cover 35 million uninsured people, there are aspects of the proposed legislation which could significantly impact employer provided medical plans.

Ultimately there may be important decisions for employers who now sponsor plans and employers who do not offer plans.

Those wishing to learn more about the proposed Senate and House bills, should click on this link, for an updated in depth comparison prepared by The New York Times including the just passed Senate bill.

"The Right Way to Determine Executive Pay"

"Are the potential payouts under your annual incentive capped at a reasonable level to minimize 'swinging for the fences' at the expense of long-term company viability?  Does your compensation committee have discretion to adjust payouts that, while reflective of actual performance, do not appear fair in the broader context?"  Richard R. Floersch poses these and other questions that compensation committees should ask themselves in the March 4, 2009 edition of The Wall Street Journal.  

"Stimulus Makes Cobra Coverage a Better Bet"

The Wall Street Journal discusses details of the federal government's subsidy of 65% of Cobra premiums under
the economic stimulus package.  Click here to read the
February 19, 2009 article.  Also, see The Ross Companies' Implementation Guide and Resource which has been designed to aid employers in their compliance with the COBRA-related provisions of the American Recovery and Reinvestment Act.
  

"In Curbing Pay, Obama Seeks to Alter
Corporate Culture"

The New York Times (February 5, 2009) reports on President Obama's mandate to limit executive pay in those companies who seek financial assistance under the second part of the government's bailout plan.  Obama "is trying to hold the financial industry accountable to taxpayers while aiming to change an entrenched corporate culture that endorses outside bonuses and perks that often bear little relationship to corporate performance."

"Prevention and Public Health: The Key
to Transforming our Sickcare System"

The U.S. Senate Committee on Health, Education, Labor,
and Pensions heard compelling testimony from Donald Wright, M.D. (Department of Health and Human Services), Jeffrey Levi, Ph.D. (Trust for America's Health), Kenneth E. Thorpe, Ph.D. (Emory University), John J. Mahoney, M.D., (Pitney Bowes),  and Carol Hibbs (YMCA) on the critical role that prevention initiatives must play in the future of healthcare in our country.  Each cited strong examples of successful  initiatives in his or her organization.  Click on the names to read their testimonies from December 10, 2008.

"Holding CEOs Accountable"

Yale law professor Jonathan Macy writes in the December 9, 2008 Wall Street Journal that "executive compensation is too high in the U.S. because the process by which executive compensation is determined has been corrupted by acquiescent, pandering and otherwise "captured" boards of directors."  For information about The Ross Companies' comprehensive assessment of board independence in matters concerning executive compensation, click here.

"Investors Pull Money Out of Their 401(k)s"

 "Economic and stock-market tremors are rattling the nest egg."  The Wall Street Journal  reports on the increase in hardship withdrawals and the reduction of stock mutual fund exposure by 401(k) investors.  Click here for the September 23, 2008 article.

"What Happens to Your Benefits After Bankruptcy"

 The Wall Street Journal identifies some of the important things to consider if your company is facing the possibility of bankruptcy.  Click here for the September 23, 2008 article.

"Qualified" Supplemental Executive
Retirement Plans

 AALU Washington Report provides insight into the issues surrounding QSERP usage and responds to The Wall Street Journal article (August 4, 2008) which depicts the technique as a "dubious use of tax laws" that can adversely affect a company's qualified pension plans.  Click here to read the AALU Bulletin No: 08-76.

"IRS slams door on pension transfers"

 Business Insurance reports on the IRS's ruling that transferring a frozen defined benefit pension plan from the sponsor to a financial services firm does not comply with current law.  Click here for the August 11, 2008 Business Insurance article.  Read the IRS press release and ruling.
For information on The Ross Companies' comprehensive services for frozen defined benefit pension plans, click here.

"Participant Notices – An Analysis of
Current Disclosure Requirements and
the Future of Disclosure"

 William E. Hansen, Esq. of McDermott Will & Emery LLP
has prepared an overview of required participant notices
for health and welfare plans and defined contribution plans.  This excellent and informative compilation appears in the
July 4, 2008 Tax Management Compensation Planning Journal.  Click here to read the article reproduced on the McDermott website.

"'Say on pay' fervor flags in firms"

 InvestmentNews reports that while the number of 'say on pay' proposals may be increasing, their approval by shareholders is decreasing.  July 22, 2008.  Click here for the article.

"Retiree Benefits Take Another Hit"

 The Wall Street Journal  reports on General Motors Corp.'s plan to end retiree health benefits.  July 16, 2008.  Click here for the WSJ article.

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