An online, clickable version of this newsletter is available at: http://benefitslink.com/2007/2007_12_20_welfare.html =========================================================== BenefitsLink Health & Welfare Plans Newsletter (Plain Text Format) December 20, 2007 Here are the Web's best new links about compliance and cost aspects of plan operation, design and policy. =========================================================== TODAY'S SPONSOR: BeneCom Associates, LLC "Benefits statements are terrific education tools. Now, they’re budget-friendly, too." (Advert.) http://benefitslink.com/modperl/a_d_top.cgi?a_d=2007_12_20_welfare (Click on the above address or copy and paste it into your web browser.) If you’re looking for a low-cost approach to communicating the value of your benefits, BeneCom Associates, LLC can help. Our "preformatted," customized and online approaches to benefit statements are attractive, very reasonably priced and used by employers across the country who thought benefits statements were financially out of reach. To find out how little benefits statements can cost and how they can help your organization, call (860) 674-2626 or visit us at benecomassociates.com. ----------------------------------------------------------- (a) NEW GUIDANCE DOCUMENTS ----------------------------------------------------------- (None today.) ----------------------------------------------------------- (b) NEWS ---------------------------------------------------------- Study Confirms Benefits of Care by Doctors Employed by Hospitals http://www.sun-sentinel.com/business/sfl-flrxhos1220sbdec20,0,6566365.story Excerpt: "So-called hospitalists work for hospitals or insurers solely to supervise the care of hospital patients with no regular doctors or whose doctors do not make hospital rounds, either by choice or because an insurer does not allow it." (South Florida Sun-Sentinel) ---------------------------------------------------------- Study Shows Insured Cancer Patients Do Better http://www.chron.com/disp/story.mpl/ap/fn/5393027.html Excerpt: "Uninsured cancer patients are nearly twice as likely to die within five years as those with private coverage, according to the first national study of its kind and one that sheds light on troubling health care obstacles." (AP via Houston Chronicle) ---------------------------------------------------------- Health IT Spending in Limbo as Congress Wrangles Over Budget http://www.ihealthbeat.org/articles/2007/12/19/Health-IT-Spending-in-Limbo-as-Congress-Wrangles-Over-Budget.aspx Excerpt: "The legislation includes more than $6 million for telemedicine projects and nearly $18 million for health care IT projects. However, e-Health Law and the Center for Telehealth note that the omnibus spending measure includes a slight reduction in funding for the Office of the Advancement of Telehealth (Healthcare IT News, 12/18)." (California HealthCare Foundation) ---------------------------------------------------------- N.Y. Plan Would Pool Self-Insured Employer Workers' Comp Risks http://www.workforce.com/section/00/article/25/27/47.html Excerpt: "The New York State Workers' Compensation Board has proposed a means of securing self-insurance claims. If adopted, the plan would release nearly $2 billion in letters of credit and surety bonds to the state's self-insured employers." (Workforce Management; free registration required) ----------------------------------------------------------- (c) SUMMARIES OF GUIDANCE; FILED COMMENTS ----------------------------------------------------------- (None today.) ----------------------------------------------------------- (d) TRENDS, SURVEYS, RESEARCH ---------------------------------------------------------- Text Message Services Speed Health Info to Those in a Hurry http://www.sptimes.com/2007/12/18/Health/Text_message_services.shtml Excerpt: "A study in New Zealand found that smoking-cessation programs were more effective in conjunction with supportive text messages." (The Wall Street Journal via St. Petersburg Times) ---------------------------------------------------------- Changing Health Insurance Benefits Market Offers New Opportunities for TPAs http://www.hr.cch.com/news/benefits/122007.asp Excerpt: "In order to survive and succeed in this new health care environment, TPAs must apply the following three strategies[:] Be alert to and respond innovatively to changes and opportunities. Shape the future by shaping public opinion and political outcomes at the local level and by sharing with the SPBA insights, from the 'trenches,' on the actual functioning of the health insurance market. . . . Continue to provide attentive, personalized service . . . ." (Wolters Kluwer Financial Services) ---------------------------------------------------------- Prescription Drug Benefit Design: The Building Blocks and Their Impact on Cost (PDF) http://www.milliman.com/expertise/employee-benefits/publications/bp/pdfs/BP10-30-07.pdf 8 pages. (Milliman) ----------------------------------------------------------- (e) POLICY, OPINION, ADVOCACY ----------------------------------------------------------- Comparing Employer-Provided Medical Care Benefits for Lower and Higher Wage Full-Time Workers http://www.bls.gov/opub/cwc/cm20071214ar01p1.htm Excerpt: "Higher wage workers are considerably more likely to have access to employer-provided medical plans and to participate in such plans when they are offered to them. Higher wage workers also pay a smaller portion of their health insurance premiums than do lower wage workers." (U.S. Bureau of Labor Statistics) ---------------------------------------------------------- Opinion: Slowing the Rise in Health Costs http://www.nytimes.com/2007/12/20/opinion/20thu1.html?ex=1355806800&en=e00b71e8d30a2f69&ei=5090&partner=rssuserland&emc=rss Excerpt: "With the disjointed American health care system in perpetual crisis, it is essential to find ways to slow the relentless rise in costs, without jeopardizing the quality of care. There is no single solution. But a broad range of reforms could combine to produce worthwhile savings." (The New York Times; free registration required) ---------------------------------------------------------- JAMA Commentary Examines Distortions in U.S. Health Care Market http://www.kaisernetwork.org/daily_reports/rep_index.cfm?DR_ID=49503 Excerpt: "The JAMA commentary discusses three classic efforts to describe, to quantify and to propose solutions to health care market distortions. The authors also discuss current health policy initiatives that aim to reduce market distortions, including pay-for-performance systems and consumer-driven health plans . . . ." (Kaiser Family Foundation) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Overview: DOL Final Form 5500 Regulations (PDF) http://www.buckconsultants.com/buckconsultants/Portals/0/Documents/PUBLICATIONS/Newsletters/FYI/2007/FYI_12_19_07a.pdf Excerpt: "The DOL, IRS and PBGC have released final annual reporting and disclosure regulations which, among other things, postpone the mandatory electronic filing requirement for Form 5500 for an additional year. They have also revised the 2009 forms to accommodate e-filing by ERISA covered pension and welfare benefit plans." (Buck Consultants) ---------------------------------------------------------- Employee Benefits Can Spring Costly Surprises in M&A http://www.insurancenewsnet.com/article.asp?a=top_lh&neid=200712192800.1_cef70020392b1129 Excerpt: "You've scrutinized the deal until your eyes hurt, but if you haven't carefully examined employee benefits, you haven't done your job in M&A due diligence, Patrick J. Haraden, director of employee benefit services at Longfellow Benefits, told the Boston Bar Association . . . ." (Market Wire via InsuranceNewsNet.com) ---------------------------------------------------------- Headlines in Employee Benefits Law, December 2007 (PDF) http://www.reinhartlaw.com/WebAdmin/publications/410.pdf 8 pages. This issue covers select compliance deadlines, retirement plan developments, and health and welfare plan developments. (Reinhart Boerner Van Deuren s.c.) ---------------------------------------------------------- Overview: SEC Amendment of Rule 144 and Rule 145 to Allow More Flexibility in Reselling Securities (PDF) http://www.reinhartlaw.com/WebAdmin/publications/412.pdf 2 pages. Excerpt: "On December 6, 2007, the Securities and Exchange Commission (SEC) issued final amendments to Rule 144 to shorten the holding periods for restricted securities. The SEC also made changes to ease the burdens to resell securities under Rule 144 and amended Rule 145 to eliminate presumptive underwriter status in most cases." (Reinhart Boerner Van Deuren s.c.) ---------------------------------------------------------- Analyzing the 'Next Social Contract': Are Employment-Based Benefits Really Dead? http://www.hreonline.com/HRE/story.jsp?storyId=56991338 Excerpt: "Proponents of reforms affecting health insurance and retirement -- particularly removing such programs from employment-based systems -- should get their facts straight before proposing massive changes." (Human Resource Executive Online; free registration required) ---------------------------------------------------------- Overview: Proposed Labor Regs Would Require Greater Disclosures of Fees, Compensation and Conflicts of Interest for Employee Benefit Plan Service Providers (PDF) http://www.alston.com/files/Publication/7ec9ddc4-c95a-4114-80ab-def45f7b25ff/Presentation/PublicationAttachment/2aae0c82-4859-4523-848c-df4d4ee41cab/DOL%20Regs%20on%20Fee%20Disclosures%20(4).pdf Excerpt: "It is unlikely that any plan sponsors have obtained contractual obligations of the type that would be required by these proposed regulations. However, the proposed regulations could be cited by defendants who would argue that such procedures and disclosures are not required under current law." (Alston & Bird LLP) ---------------------------------------------------------- Participant Seeking Benefits Due Cannot Claim Fiduciary Breach http://www.plansponsor.com/pi_type10/?RECORD_ID=39860 Excerpt: "The U.S. District Court for the District of Columbia has ruled a plan participant cannot move forward with fiduciary breach claims against her former employer when she has adequate remedy under her claim for additional benefits due to her." (PLANSPONSOR.com; free registration required) ---------------------------------------------------------- IRS Notice 2008-8: Waiver of Requirement to Make 2007 Information Return for Certain Stock Transfers Under Code Sec. 6039 (PDF) http://benefitslink.com/IRS/notice2008-8.pdf 3 pages. Excerpt: "Section 403 of the Tax Relief and Health Care Act of 2006 (Act) amended the information reporting requirements of § 6039. . . . As amended by the Act, § 6039 requires corporations to make an information return with the IRS, in addition to providing employees with an information statement, following a [transfer of stock pursuant to the employee's exercise of an incentive stock option or a transfer of stock by the employee where the stock was acquired pursuant to the exercise of an option described § 423(c)]. . . . Because regulations under § 6039 have not yet been issued, the IRS is waiving the obligation to make an information return for 2007 stock transfers . . . ." (Internal Revenue Service) ========================================================== Newly Posted Events COBRA Compliance Workshop in California on January 17, 2008 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA) http://benefitslink.com/events/detail.php?id=43238 HIPAA And Other Health Benefits Laws: Compliance Assistance Seminar in Massachusetts on March 19, 2008 presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA) http://benefitslink.com/events/detail.php?id=43237 Report Release On Estimated Savings From Specific Health Reform Options Nationwide on December 21, 2007 presented by KaiserNetwork.org http://benefitslink.com/events/detail.php?id=43239 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases SEI Releases 2008 Update of FAS 87 Disclosure Assumptions Research for Pension Plan Sponsors SEI http://benefitslink.com/pr/detail.php?id=41479 Study Offers Counties Help for GASB 45 Rule Compliance National Association of Counties http://benefitslink.com/pr/detail.php?id=41478 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Pension Plan Operations Representative for Transamerica Retirement Services in CA http://benefitslink.com/modperl/job.cgi?n=H53874 Post yours! http://EmployeeBenefitsJobs.com/jobs/post_help_wanted.html View all jobs http://EmployeeBenefitsJobs.com/ RSS feed http://EmployeeBenefitsJobs.com/rss/jobs.rss =========================================================== Search previous newsletters: http://benefitslink.com/search =========================================================== Subscribe to the BenefitsLink Retirement Plans Newsletter, Too Sign-up form is at: http://benefitslink.com/newsletter/ =========================================================== This newsletter is sent to you each workday except federal holidays. 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