It appears there is now proof that helping employees deal with their finances can help companies cut healthcare costs and boost productivity. A recent study from El Segundo, Calif.-based Financial Finesse lists money worries as the No. 1 source of stress among employees. It also shows significant differences in company healthcare savings between employees considered heavy users of financial education (three or more interactions with any of the financial services available within a year) and those considered light users or non-users. The study, conducted at a Fortune 500 healthcare company that prefers to go unnamed, shows 22 percent healthcare-cost savings for heavy users, 9 percent for all users (heavy and light) and 4 percent for non-users from 2009 to 2010.
The IRS still has the authority to impose fines on nonfilers.
The law affects access to policy loans for insureds who are getting LTC-related accelerated death benefits.
An attorney looks at the interpretation of this exclusion that was approved as part of the SEC's advice-standards package.
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