Don't pay twice for health care

Article Abstract:

Proper coordination of medical benefits can save companies money on the cost of insurance coverage. Benefits coordination refers to the adjustment of more than one medical claim filed for the same medical expense, usually the result of dual-coverage by a husband and wife who work for different companies. How the claims are honored in the case of claims for children depends on the insured's state of residence. Some states have a gender-rule, stating that the husband's policy takes precedence. More than half the states now follow the birthday-rule, originated by the National Association of Insurance Commissioners. This rule states that the policy of the spouse whose birthday falls earlier in the year is considered the primary coverage.

Analysis, Management, Health insurance, Medical care, Cost of, Health care costs, National Association of Insurance Commissioners

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Employee financial planning

Article Abstract:

Employees worry about their financial futures. More than 61% of respondents to a survey of 300 workers believe that employers should help plan this future. One option is through company-sponsored employee financial planning programs, in which the services of a financial planner are engaged. The planner should provide a two-part program, consisting of generalized seminars and individual planning. Topics should include: retirement, tax reduction, cash reserves, capital formation, insurance, education, and other employee concerns. Each financial plan should be tailored to the employee, with total confidentiality assured.

Financial planning

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Virtually all pension plans are affected by the new rules

Article Abstract:

Usually, a pension is top-heavy when it gives some workers over 60 percent of the total benefits accumulated for all workers. Adherence to the Internal Revenue Service regulations should begin once the plan year starts. Certified plans will include the following kinds of top-heavy provisions in their internal documentation: top-heavy provision descriptors, plan features, and provisions for altering the benefit structure.

Laws, regulations and rules, Pensions, United States. Internal Revenue Service

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