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5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.
from Spencer’s Benefits Reports: At least four insurers have agreed to extend insured group coverage to some older children before a health reform provision that extends coverage to most children who are younger than age 26 and that takes effect beginning in September.
United HealthCare, Humana, WellPoint, and Kaiser Permanente all have announced that they will begin extending coverage to older children sooner than the Sept. 23, 2010, effective date. United HealthCare and Humana have made immediate changes, WellPoint plans changes take effect on June 1, and Kaiser has yet to announce how soon its changes will take effect. The changes will affect children who are graduating from college this spring and summer and otherwise would lose group coverage.
A WellPoint press release noted, “As a proactive measure to assist its members, WellPoint’s affiliated health plans, working in collaboration with the US Department of Health and Human Services (HHS) and state regulators, will allow young men and women to remain on their parents’ policies even before this health care reform provision takes effect. Beginning June 1, WellPoint’s affiliated health plans will automatically retain these young individuals on their parents’ policies in both fully insured group and individual health plans. Our self insured clients and members will have the option of not offering this extended coverage.”
United HealthCare announced that its “extension of coverage applies to college students who currently are covered under their parents’ fully-insured health plan offered through UnitedHealthcare. Individual family health plans through UnitedHealthcare’s Golden Rule business already allow all dependents to stay on the plan until age 26 and enrollees do not need to take any action.”
Furthermore, Humana noted that its decision “directly impacts the adult children of members who are enrolled in Humana’s fully insured lines of business. Children of members enrolled in a HumanaOne individual health plan have already been able to remain on their parents’ or guardians’ coverage until age 26. Humana also is encouraging large employers who self-fund their coverage with Humana to extend coverage to the adult children of their employees who would otherwise lose their coverage this year.”
HHS Secretary Kathleen Sebelius said in an April 19 statement, “We are also working hard with other insurers on similar proposals and sent a letter today offering to work with each of them to expand this opportunity even further.”
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
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