Weight loss device manufacturers are pushing for weight-loss surgery to become a standard part of benefits packages. The manufacturers are talking about the advantages of having a more lean workforce. Weight loss can help prevent a variety of life-threatening illnesses and help save billions of dollars in health care costs for companies. The manufacturers include Allergan Inc, the makers of the LapBand silicone cuff that restricts the top part of the stomach to lower food intake. Other companies involved offer surgeries like stapling a portion of the stomach and redirecting portions of the food intake to lower portions of the intestines to limit the nutritional absorption. The manufacturers are pursuing acceptance of all kinds of bariatric (weight loss) surgery in an attempt to get the entire category approves by private and public insurers. The benefits of weight loss include Lower instances of injury. Fewer cases of diabetes. Shorter work-loss situations related to illnesses.  ...

On February 2, 2012, the Internal Revenue Service and the Department of Treasury released a number of pieces of guidance intended to ease the availability of annuity distribution options in defined benefit plans and IRAs. The guidance included: Proposed regulations containing exemptions from certain required minimum distribution rules under the federal Tax Code for qualified longevity annuity contracts. Proposed regulations to allow defined benefit plans to distribute benefits as part lump sum and part annuity on more favorable terms than now permitted. A revenue ruling addressing how to apply the qualified joint and survivor annuity (QJSA) and qualified pre-retirement annuity rules to a profit-sharing plan that offers deferred annuities. A revenue ruling that provides rules for securing annuity distributions for the rolled-over amounts from certain defined contribution plans to defined benefit plans. It’s not just the usually IRA and 401(k) distribution rules anymore. As a bu ...

A bill that would amend Florida law to allow victims of domestic violence to qualify for unemployment compensation was passed by The Florida Senate Commerce and Tourism committee. Sen. Oscar Braynon II, D-Miami Gardens, filed the Senate Bill 1440. The definition of “good cause” to qualify for unemployment benefits under Florida law would be expanded to include domestic violence as a “good cause”. The bill states that “good cause” means that domestic violence as defined by Florida law “causes the individual to reasonably believe that continued employment will jeopardize the individual’s safety or the safety of a member of her or his immediate family.” The bill mandates that “such cause must be substantiated by evidence that reasonably proves that domestic violence has occurred, such as an injunction, protective order, or other such reasonable and confidential documentation authorized by state law.” The bill was cosponsored by Sens. Anitere ...

The House of Representatives voted to repeal the Community Living Assistance Services and Supports Act (CLASS Act). It was a long-term-care insurance provision of the 2010 health care reform law. House members approved a bill that Rep. Charles Boustany (R-La.), a physician, introduced a year ago. Called the Fiscal Responsibility and Retirement Security Act of 2011, the bill overturns the CLASS Act, a voluntary, public-supported long-term-care insurance program. CLASS has been hotly debated on Capitol Hill throughout 2011, and the United States Department of Health and Human Services (HHS) suspended the program last fall. The passed bill effectively prevent the 2010 program from resurfacing. Referring to CLASS, Rep. Tom Price (R-Ga.), a physician, said prior to the vote, "It was passed as a partial pay-for for the president's health care bill. So it's another portion of that bill that ought to come crashing down," he said, adding that he finds it "peculiar" to hear those who support CLASS say that it doesn' ...

According to a new study by the Employee Benefit Research Institute, decreasing investment returns and increasing costs of necessities has pre-retirees skipping doctors’ appointments and cutting back on prescriptions. The study found people over the age of 50 are taking these steps as they try to save money since the costs of basic necessities are on the rise. The study found people over 50 are also switching to generic drugs, trying to get free medication samples from their doctors or stopping taking them altogether. In addition, about one in five people surveyed say they have either skipped or delayed doctor’s appointments. More than 4,400 people were surveyed and contributed to this data. Respondents reported declining stock values, less income and the need to decrease their debt as the factors contributing to the spending cuts. People reported spending more money on basic needs such as food, utilities and gas. EBRI’s study found that people who are in “poor” health are a ...