| Test Your Human Resources Knowledge | ||
|
| Labor Law Journal Submissions | ||
|
| Labor Arbitrators' Awards and Biographies | ||
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: The average Medicare beneficiary will have a choice of 33 Part D stand-alone prescription drug plans (PDPs) in 2011, despite a 30% reduction in the total number of PDPs available nationwide, a new Kaiser Family Foundation analysis found. Kaiser also found that monthly premiums for PDPs will rise by 10%, on average, to $40.72 in 2011 if beneficiaries stay with their current plans. All beneficiaries may choose a new plan during the 2011 open enrollment period, which runs from November 15 through December 31.
Based on its independent analysis, Avalere Health also predicted an average premium increase of 10%, while the Centers for Medicare and Medicaid Services had forecast an average premium increase of 3.4% for 2011.
The report, Part D Plan Availability in 2011 and Key Changes Since 2006, included an analysis of recently-released data on the PDP options that will be available to beneficiaries in 2011 and provided an early look at key trends in the options, premiums, and other plan characteristics.
There was wide variation in year-to-year changes in premiums across plans, with about 2.6 million beneficiaries enrolled in PDPs facing a monthly premium increase of at least $10 and about 440,000 beneficiaries facing a monthly reduction of at least $10 if they stay in their current plan, Kaiser found. Average premiums will fall about 4% in Alaska, but rise by at least 10% in Arkansas, California, Louisiana, Nevada, New York, and the Alabama and Tennessee regions.
As in previous years, the majority of plans will offer little or no coverage in the gap, known as the “doughnut hole.” However, beneficiaries who reach the gap will pay less out of pocket than in previous years, as a result of changes made by the Patient Protection and Affordable Care Act.
Despite the large decrease in overall plan options in 2011, beneficiaries receiving low-income Part D subsidies will have access to a larger number of plans available at no monthly premium.
For more information, visit http://www.kff.org.
For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.
Visit our News Library to read more news stories.
©2005-2024 CCH Incorporated or its affiliates
