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Most Recent Benefits Management News

Firefighters' pension contribution hike dies in Texas Assembly

By: Meaghan Kilroy, Pensions & Investments

Published May 22, 2015 - 1:33pm CST

A bill to increase Houston firefighters' pension contributions and save the city more than $70 million in pension payments over the next three years fell apart after failing to reach a full vote of the Texas General Assembly before the legislative session ended.

Industry lobbyist leaves for insurer leadership post

By: Bob Herman | Modern Healthcare

Published May 21, 2015 - 12:03pm CST

Karen Ignagni, the longtime head of America's Health Insurance Plans, is leaving the industry's lobbying group to become president and CEO of EmblemHealth, an insurer based in New York.

CVS to buy pharmacy services provider Omnicare for $10.1 billion

Published May 21, 2015 - 8:41am CST

(Reuters) — CVS Health Corp., the second-largest U.S. drugstore operator, said on Thursday it will buy pharmacy services provider Omnicare Inc. for $10.1 billion to expand in the growing market serving the senior patient population.

Treasury benefits regulator to be nominated as next PBGC chief

By: Jerry Geisel

Published May 21, 2015 - 8:36am CST

President Barack Obama said he intends to nominate W. Thomas Reeder, health care counsel at the Internal Revenue Service, to be director of the Pension Benefit Guaranty Corp.

CEO's doughnut decision leads to wellness engagement

By: Bill Kenealy

Published May 20, 2015 - 1:43pm CST

MINNEAPOLIS — The success of corporate wellness programs depends on a combination of executive leadership and simplicity, speakers said Wednesday at World At Work’s Total Rewards 2015 Conference and Exhibition in Minneapolis.

Employer, benefits groups lobby IRS for changes to Cadillac tax

By: Matt Dunning

Published May 20, 2015 - 1:21pm CST

Employer advocates and benefits consultants this week asked the Internal Revenue Service to delay implementation of the federal health care reform law's so-called “Cadillac tax” on high cost health care plans, due to take effect in 2018.

AIG expands into multinational benefits

By: Sarah Veysey

Published May 20, 2015 - 9:48am CST

American International Group Inc. on Wednesday said it has acquired a controlling stake in Brussels-based ING Employee Benefits Global Network and renamed it AIG Global Benefits Network.

Supreme Court investment monitoring ruling opens questions

By: Shelby Livingston

Published May 19, 2015 - 3:52pm CST

The U.S. Supreme Court's decision that retirement plan fiduciaries have a duty to continually monitor investments leaves a key issue of what exactly they have to do unresolved, industry observers say.

Prescription drug costs drive increase in health care expense

By: Matt Dunning

Published May 19, 2015 - 3:29pm CST

A sharp surge in prescription drug costs helped push health care costs for families covered under an average employer's health insurance plan up an estimated 6.3% in 2015, according to a new report by Milliman Inc.

Employers find savings, service in telemedicine

By: Bill Kenealy

Published May 19, 2015 - 3:02pm CST

MINNEAPOLIS — Though still a relatively new technology, telemedicine is becoming a more viable option for companies looking to temper health care spending, speakers said Tuesday at World At Work’s Total Rewards 2015 Conference and Exhibition in Minneapolis.

Anthem CFO says insurer could make 'meaningful' acquisition

Published May 19, 2015 - 11:26am CST

(Reuters) — The financial chief of Anthem Inc., the second-largest U.S. health insurer, said on Tuesday that low interest rates and other conditions make it a good time for an acquisition, adding to speculation about merger activity in the sector.

California broker acquires benefits consulting firm

By: Mark A. Hofmann

Published May 19, 2015 - 9:52am CST

Insurance broker Edgewood Partners Insurance Center has acquired Los Angeles-based employee benefits consulting firm Executive Financial Inc.

High court hands win to employees in Edison International 401(k) dispute

By: Shelby Livingston

Published May 18, 2015 - 4:44pm CST

(Reuters) — The U.S. Supreme Court on Monday revived claims made by Edison International employees who accused the utility of favoring higher-cost mutual funds over lower-cost ones in its retirement plan.

Employer advocacy group calls for Cadillac tax leniency

By: Matt Dunning

Published May 18, 2015 - 2:55pm CST

The ERISA Industry Committee has asked federal regulators to take into consideration the “unfortunate” and “unnecessary” frustrations it says employers will face as a result of the 40% excise tax on high-value group health care plans, due to take effect in 2018 under the health care reform law.

Benefit consultant urges Cadillac tax delay

By: Jerry Geisel

Published May 18, 2015 - 1:18pm CST

The effective date of a health care reform law provision that will impose, starting in 2018, a 40% excise tax on group health care premiums that exceed $10,200 for single coverage and $27,500 for family coverage should be delayed, a benefit consultant is recommending.