| BenefitsLink Welfare Plans Newsletter |   |
July 17, 2003 - 8,367 subscribers
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Hypertext Version of Final Regulations on Trusts of 10 or More Employers Under Code Sec. 419A(f)(6)
Excerpt: "This document contains final regulations that provide rules regarding the requirements for a welfare benefit fund that is part of a 10 or more employer plan.... These regulations are effective July 17, 2003." (Internal Revenue Service)
What Employers and Plan Administrators Need To Know About Court-Ordered Health Coverage For Children
Excerpt: "Due to the high divorce rate, it is likely that employers and plan administrators will, sooner or later, receive [a National Medical Support Notice]. Employers that fail to comply with the legal duties imposed by the NMSN may be subject to penalties under state laws and ERISA, including fines and, in some states, criminal prosecution." (OnQue Technologies Inc.)
Using Section 529 Plans as an Employee Benefit
Excerpt: "Critics cite disadvantages ranging from the fact that workers can easily set up accounts on their own to potential employer liability if 529 investments do not meet return expectations, to the threat that they might crowd out contributions to the employer's 401(k) plan. However, the alarming rise in college expenses made 529 plans an attractive benefit from the start and, despite the sour economy, tuition inflation shows no signs of slowing down ..." (PLANSPONSOR.com; one-time registration required)
When Small Employers Receive Stock or Acquire Assets, How Are Employees Counted for COBRA?
Excerpt: "A new Internal Revenue Service (IRS) ruling, Revenue Ruling 2003-70, addresses COBRA administration for small-employer plans in two situations: the acquisition of another entity through the transfer of stock and the acquisition of the substantial assets of another business." (OnQue Technologies Inc.)
Who is Plan Administrator of Our Welfare Plans if Paperwork Doesn't Name Anybody?
Excerpt: "Under ERISA, the plan administrator is the person designated by the plan document. If there is no designation, the plan administrator is the plan sponsor, defined as the employer that establishes or maintains the benefit plan. Your company is the plan sponsor and, accordingly, the plan administrator as well." (EBIA Weekly (Question of the Week))
Basic Policies Help Manage the Pros and Cons of Telecommuting
Excerpt: "To help you decide if telecommuting is right for your organization, I'll discuss some compelling reasons for and against implementing telecommuting in the workplace. I'll also cover the importance of monitoring policy compliance and enforcing any security policies that you've established in relation to your telecommuters." (TechRepublic; one-time registration required)
Nonunion Steel Retirees Face Benefit Cuts
Excerpt: "Bankrupt National Steel Corp. on Wednesday said it will stop paying health and life insurance premiums by the end of the month for about 7,000 retirees who were salaried, nonunion employees." (New York Times; one-time registration required)
Opinion: Remaking Steel Without Throwing Retirees on the Slag Heap
Excerpt: "His union's mission, says Leo Gerard, United Steelworkers of America's international president, is 'saving these damn plants for our members, retirees and the next generation of workers' -- not for corporate executives or nonunion subcontractors." (David Moberg in The American Prospect)
Audio Excerpt: How Would Pharmacy Benefit Managers Handle a New Medicare Prescription Drug Benefit?
Excerpt: "If Congress adds prescription drug coverage to Medicare, private companies are likely to administer the program. NPR's Joanne Silberner explains what these companies called pharmacy benefits managers would do." (National Public Radio)
Opinion: Medicare Reform a Poison Pill for U.S. Health Care?
Excerpt: "In recent weeks, the Senate and House both approved their respective versions of Medicare 'reform,' with the all but full-throated approval of the Bush White House.... [I]t took virtually an entire Republican Village to: ... encourage further erosion of employer-sponsored retiree health benefits ..." (Tom Miller of the Cato Institute)
Kaiser Daily Health Policy Report Rounds Up Opinion Pieces on Prescription Drug Reimportation
Excerpt: "The Kaiser Daily Health Policy Report rounds up editorial reaction to a provision in the House and Senate Medicare reform bills (HR 1 and S 1) that would allow U.S. pharmacists to purchase U.S.-made prescription drugs from Canada and other nations and resell them in the United States." (KaiserNetwork.org)
Opinion: Allowing Drug Importation is Not the Answer
Excerpt: "In approving Medicare prescription drug legislation recently, both the House and Senate bills included additional provisions that would meddle in pharmaceutical prices and alter intellectual property rights." (The Galen Institute)
Opinion: Importation Could Endanger Prescription Drug Supply
Excerpt: "The safety of the prescription drug supply in the United States could be in jeopardy if Congress passes new legislation that would allow consumers to purchase imported drugs from 26 different countries without the validation of their safety." (The Galen Institute)
Opinion: a Fair Medicare Competition
Excerpt: "The main point of the bill was supposed to be providing prescription drug benefits to elderly Americans. But warring camps seem to be drawing lines in the sand around a much larger issue: a provision in the House bill that would force the traditional Medicare program to compete against private insurance plans starting in 2010." (New York Times; one-time registration required)
Federal Legislation on Damage Cap for Medical Malpractice Looks Dead Until 2005
Excerpt: "The Senate on July 9 defeated a bill (S. 11) supported by the AMA to curtail medical malpractice ('med-mal') lawsuit awards when Republican proponents fell 11 votes short -- with just 49 out of 60 needed -- to save the bill from a Democratic filibuster against it. This divisive issue has essentially no chance of federal legislative change in 2004, a presidential election year ..." (AISHealth.com)
Newly Posted or Renewed Job Openings
Health Provider Network Analyst/Coordinator
for Sixty year old mid-size health and retirement plan administration firm
in IN
Account Executive/Client Services
for Diversified Investment Advisors
in NY
Pension Administrators
for Alliance Benefit Group of Illinois, Inc.
in IL
Implementation/Account Manager
for BISNet, Inc.
in CA
Relationship Manager
for BISYS Retirement Services
in MN
Newly Posted Webcasts
(Post Yours!)
Can Congress Reach Agreement on a Medicare Drug Benefit? Policy, Politics, and the Presidential Election
on July 15, 2003
presented by American Enterprise Institute
Newly Posted Conferences
(Post Yours!)
Fiduciary Responsibility and Liability
in MA
August 19, 2003
Greater Boston Chapter ISCEBS
Newly Posted Press Releases
(Post Yours!)
Consumers Challenge Insurers and Employers to Provide More Health Cost Information
(The Dieringer Research Group)
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