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IRS relaxes health reform law $2,500 limit for noncalendar-year FSAs

Published May 30, 2012 CST

WASHINGTON—The Internal Revenue Service on Wednesday provided regulatory relief for health care flexible spending account participants and also said it is reconsidering its longtime use-it-or-lose-it rule for FSAs.

South Shore Hospital to pay $750,000 in data breach settlement

Published May 29, 2012 CST

WEYMOUTH, Mass.—A June 2010 data breach will cost Weymouth, Mass.-based South Shore Hospital $750,000 in fines and remediation costs, according to a civil settlement with the state Attorney General's Office announced last week.

House panel approves bill to ease FSA ‘use-it-or-lose-it' rule

Published June 01, 2012 CST

WASHINGTON—A decades-old Internal Revenue Service rule that requires forfeiture of unused flexible spending account balances would be eased, and health care reform law-imposed restrictions on using FSAs and health savings accounts to pay for over-the-counter medications would be eliminated, under separate bills approved Thursday by a panel of the U.S. House of Representatives.

'Rate-based' safety programs may discourage reporting

Published May 27, 2012 CST

“Rate-based” safety incentive programs are drawing federal scrutiny for their potential to discourage workers from reporting accidents and injuries.

Michael Segal released from prison 4 months early

Published May 30, 2012 CST

CHICAGO—Michael Segal, the former Near North National Group Inc. owner convicted of fraud in 2004, was freed from prison on Tuesday, four months ahead of his scheduled release date.

Health savings account enrollment surges 18%: AHIP

Published May 30, 2012 CST

Enrollment in health savings accounts linked to high-deductible health insurance plans leaped more than 18% to 13.5 million as of Jan. 1, according to an annual census released Wednesday.

Ways and Means Committee to vote on bill to overturn health care reform law OTC provision

Published May 30, 2012 CST

WASHINGTON—The House Ways and Means Committee is expected to vote on and pass legislation that would overturn an unpopular provision in the health care reform law that restricts the use of flexible spending accounts and health savings accounts to reimburse employees for over-the-counter medications.

Dewey files for Chapter 11 in record law firm collapse

Published May 29, 2012 CST

NEW YORK (Reuters)—The crippled law firm Dewey & Leboeuf L.L.P. filed for Chapter 11 bankruptcy protection Monday night and will seek approval to liquidate its business after failing to find a merger partner, marking the biggest collapse of a law firm in U.S. history.

Calif. workers comp advisory pure premium rate hike of 8.25% is approved

Published May 30, 2012 CST

SACRAMENTO—California Insurance Commissioner Dave Jones has approved a California workers compensation advisory pure premium rate hike amounting to 8.25% for new policies and those renewing on or after July 1, 2012.

Calif. workers comp claims show sharp increase in medical costs: Study

Published May 25, 2012 CST

CAMBRIDGE, Mass.—California has seen a “steep” increase in medical costs for workers compensation claims despite reforms to the system in the last several years that initially reduced costs, according to the Workers Compensation Research Institute.

OFF BEAT: Certain dog breeds cause insurers to tuck their tails between their legs

Published May 30, 2012 CST

With the number of dog bite claims and their costs increasing, lists of the most-dangerous canines are finding their way into media stories.

Property catastrophe insurance prices hinge on information

Published May 27, 2012 CST

Property catastrophe insurance prices have increased consistently since mid-2011, and while capacity remains adequate, market experts see some owners of catastrophe-exposed property taking steps to get the best prices they can in the market.

OFF BEAT: Million Miler flier says he was stripped of privileges by United Airlines

Published May 29, 2012 CST

A well-traveled Chicago man alleges that United Airlines Inc. “stripped away” his exclusive benefits under its Million Miler frequent flier program after it was modified in a merger with Continental Airlines.

Small companies may face greater scrutiny when buying D&O coverage under JOBS Act: Report

Published May 29, 2012 CST

Small companies utilizing provisions of the recently passed JOBS Act may face greater scrutiny when purchasing directors and officers liability insurance, according to a new report from Marsh Inc., an unit of New York-based Marsh & McLennan Cos.

Most firms with DB plans to keep them open to new hires: Study

Published May 23, 2012 CST

More than two-thirds of U.S. corporations that offer a defined benefit pension plan to new employees say they are committed to continue offering the plan to new hires, according to a survey from Towers Watson & Co.

Rep. Frank offers bill to bar insurance on clawbacks

Published May 30, 2012 CST

WASHINGTON (Reuters)—Executives at financial firms would no longer be able to buy insurance to protect themselves against compensation clawbacks or civil penalties, under legislation introduced by U.S. Representative Barney Frank.

FM Global announces management changes

Published May 30, 2012 CST

JOHNSTON, R.I.—Factory Mutual Insurance Co., which does business as FM Global, has announced several changes to its management team, effective June 1.

Suspension of pension increases for N.J. public employees upheld

Published May 31, 2012 CST

TRENTON—A New Jersey Superior Court judge has upheld a 2011 state law suspending automatic cost-of-living pension increases for retired state employees.

Employee's coffee-break injury not compensable: Court

Published May 31, 2012 CST

JEFFERSON CITY, Mo.—The Missouri Supreme Court ruled Tuesday that workers compensation benefits should be denied for a Missouri woman who twisted her ankle while making a pot of coffee for herself and her coworkers.

Out-of-network doctor's report admissible evidence in workers comp case: Court

Published May 31, 2012 CST

A report from a doctor who is not part of an employer's workers compensation medical network is admissible as evidence for determining benefits, a California appellate court ruled.

CSU increases Atlantic hurricane prediction for 2012

Published June 01, 2012 CST

FORT COLLINS, Colo.—The hurricane forecasting team at Colorado State University has increased the number of hurricanes it expects to form in the Atlantic basin this hurricane season to five from the four predicted in April.

NLRB reports on overbroad, unlawful social media policies

Published June 01, 2012 CST

The National Labor Relations Board has issued another report on social media policies in which it cites six cases where it contends employers' policies and rules were overbroad and unlawful.

AIG must pay $146.5M to settle alleged workers comp premium underreporting

Published June 01, 2012 CST

HARRISBURG, Pa.—American International Group Inc. must pay state regulators $146.5 million by the end of June to settle 2006 allegations that its insurers underreported workers compensation premiums over several decades.

Health care reform law rejection would raise tax, benefit issues

Published May 20, 2012 CST

WASHINGTON—Should the U.S. Supreme Court strike down the entire health care reform law, experts say that would result in mass confusion for employers involving key benefit and tax issues.

OFF BEAT: Nudist colony deliveries too up close and personal for letter carriers

Published May 15, 2012 CST

Two letter carriers have filed a claim with the Equal Employment Opportunity Commission contending that having to deliver mail to a nudist colony creates a hostile work environment.