Employees' 401(k) balances hit record in first quarter: Fidelity

By: Jerry Geisel

Published May 23, 2013 - 12:24pm CST

Aided by a strong equities market, employees' 401(k) plan account balances hit a record average of $80,900 at the end of the first quarter, according to Fidelity Investments.

Willis North America launches private health insurance exchange

By: Matt Dunning

Published May 22, 2013 - 3:14pm CST

Willis North America, a unit of Willis Group Holdings P.L.C., on Wednesday announced the launch of its private medical and voluntary benefits exchange.

GALLERY: History of COBRA's evolution

Published May 22, 2013 - 11:20am CST

In our latest photo gallery, Business Insurance explores how COBRA coverage has changed and developed since COBRA's passage in 1986.

2012 family PPO cost posted smallest increase since 2004: Milliman

By: Matt Dunning

Published May 22, 2013 - 10:08am CST

The average increase in medical costs for families enrolled in employer-sponsored preferred provider organizations was just 6.3% in 2012, according to a report that Seattle-based Milliman Inc. released Wednesday.

Defined benefit beat defined contribution plans' returns: Analysis

By: Jerry Geisel

Published May 22, 2013 - 8:46am CST

Defined benefit pension plans have consistently earned higher rates of return than defined contribution plans — predominately 401(k) plans, according to an analysis released Wednesday.

Arkansas Best Corp. freezes pension plan for nonunion employees

By: Jerry Geisel

Published May 20, 2013 - 1:25pm CST

Trucking company Arkansas Best Corp. is freezing its pension plan for nonunion employees, completing a process it began in 2006.

Michigan Senate approves four-year extension of 1% health claim tax

By: Jerry Geisel

Published May 20, 2013 - 11:38am CST

The Michigan State Senate has approved legislation that would extend the state's controversial 1% tax on paid health care claims for another four years.

Health care reform law will enable subsidies, may slash COBRA usage

By: Jerry Geisel

Published May 19, 2013 - 6:00am CST

The need for the COBRA safety net is expected to shrink dramatically next year when the health care reform law will enable many COBRA beneficiaries to buy federally subsidized health coverage through public insurance exchanges.

Employers seek clarity on health reform law mandate on essential benefits

By: Louise Kertesz

Published May 19, 2013 - 6:00am CST

Despite rules that require mental health, behavioral health and substance abuse treatment be included as essential health benefits in 2014, employers say they need more clarification on the benefits that will vary greatly by state.

Critical illness sales spike with adoption of consumer-driven health plans

By: Joanne Wojcik

Published May 19, 2013 - 6:00am CST

Employers' growing adoption of consumer-driven health plans is helping to drive sales of critical illness insurance as a supplement to help with employees' higher out-of-pocket costs, experts say.

HSAs cover critical illness insurance

By: Joanne Wojcik

Published May 19, 2013 - 6:00am CST

Critical illness insurance is one of a handful of supplemental health insurance policies that workers covered by high-deductible health plans linked with health savings accounts can purchase under Internal Revenue Service rules.

Technology firm Rogers to freeze pension plans

By: Jerry Geisel

Published May 17, 2013 - 3:12pm CST

Rogers, Conn.-based technology company Rogers Corp. will freeze two pension plans starting next month, completing a process it began in 2008.

Senate bill would end 'use-it-or-lose-it' FSA rule

By: Jerry Geisel

Published May 17, 2013 - 1:43pm CST

Legislation introduced in the Senate would end a decades-old Internal Revenue Service rule that requires the forfeiture of unused health care flexible spending account contributions.

House once again votes to repeal health care reform law

By: Jerry Geisel

Published May 17, 2013 - 9:49am CST

For the third time, the U.S. House of Representatives has voted to repeal the health care reform law, but it again looks highly unlikely that the Democrat-controlled Senate will follow suit.

Business Insurance's Benefit Manager of the Year® for 2013 named

Published May 17, 2013 - 9:15am CST

CHICAGO — Business Insurance announced Friday that Matthew Harmon, senior director of benefits at J.C. Penney Co. Inc., is the 2013 Benefit Manager of the Year^®.

Grandfathered health plans dwindling: Analysis

By: Jerry Geisel

Published May 16, 2013 - 12:48pm CST

The percentage of employers with grandfathered health care plans continues to dwindle, according to a survey released Thursday.

Future health care to cost 2013 retirees $220,000: Fidelity estimate

By: Jerry Geisel

Published May 16, 2013 - 11:01am CST

A 65-year-old couple retiring in 2013 without employer-provided retiree health insurance will need about $220,000 to pay future medical-related expenses, Fidelity Investments said in an analysis released Thursday.

Genetic test that saved Angelina not widely covered

By: Gale Scott, Crain's New York Business

Published May 15, 2013 - 3:10pm CST

Angelina Jolie's revelation that she had a preventive double mastectomy to reduce her risk of getting breast cancer was hailed as a brave move by patient advocates.

Measure to repeal health care reform will be vetoed: President Obama

By: Jerry Geisel

Published May 15, 2013 - 2:54pm CST

President Obama will veto legislation that would repeal the 2010 health care reform law, the administration said Wednesday.

CBO lowers health reform 'Cadillac' tax, employer penalty estimates

By: Matt Dunning

Published May 15, 2013 - 2:25pm CST

The Congressional Budget Office has nearly halved the revenue it expects the federal government to collect from employers through the health care reform law's so-called “Cadillac tax.”

JLT buys Jakarta-based health management companies

By: Sarah Veysey

Published May 14, 2013 - 9:31am CST

London-based brokerage Jardine Lloyd Thompson Group P.L.C. has acquired two employee benefits businesses in Indonesia.

HHS approves new health insurance exchange coverage approach

By: Jerry Geisel

Published May 14, 2013 - 9:05am CST

Utah will continue to operate its two-year-old health insurance exchange for small employers, while the federal government will start one for individuals under an agreement reached by federal and Utah officials.

Oklahoma governor vetoes pension reform bill

By: Kevin Olsen, Pensions & Investments

Published May 13, 2013 - 3:01pm CST

Oklahoma Gov. Mary Fallin vetoed a pension reform bill that would have given new hires a choice between entering a defined contribution plan and participating in the $7.5 billion Oklahoma Public Employees Retirement System.

PBGC takes over Massachusetts hospital's pension plan

By: Jerry Geisel

Published May 13, 2013 - 2:28pm CST

The Pension Benefit Guaranty Corp. is taking over a pension plan sponsored by Noble Health Systems Inc. in Westfield, Mass.