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September 9, 2003 - 8,548 subscribers
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Lucent to Cut Some Benefits for Retirees
Excerpt: "Lucent Technologies Inc. will cut some retiree health care benefits to save about $75 million annually, according to a filing Monday with the Securities and Exchange Commission." (Washington Post)
Text of EEOC Amicus Brief in Supreme Court 'Reverse Age Discrimination' Case
General Dynamics Land Systems, Inc. v. Cline. Excerpt: "Question Presented: Whether, in the absence of an affirmative defense, the Age Discrimination in Employment Act of 1967, 29 U.S.C. 623(a)(1), prohibits an employer from favoring older over younger workers when both are protected by the Act." (Equal Employment Opportunity Commission, published online by the ERISA Industry Committee)
Overview: Health FSAs Can Reimburse Participants' Nonprescription Drug Costs
Excerpt: "The revenue ruling does not specify an effective date, so it presumably applies to expenses incurred at any time. Of course, neither health FSAs nor HRAs can reimburse participants for expenses they incurred before the plan was established or before they became participants." (Deloitte & Touche's Human Capital Advisory Services)
Overview: Over-the-Counter Drugs May Now Be Reimbursed by Health FSAs, HRAs, Other Health Plans
Excerpt: "The Revenue Ruling focuses on Code Section 105(b), which is the basis for the tax-free treatment of amounts received from employer-provided accident and health plans (including reimbursements from health FSAs and HRAs).... [T]he IRS ruled that dietary supplements (e.g., vitamins) purchased by the employee without a physician's prescription to maintain general health of the employee or the employee's spouse and dependents are not expenses for medical care ..." (EBIA Weekly)
HMO or PPO: Picking a Managed Care Plan
Excerpt: "Your choice of managed-care plans can make a big difference in the quality of the medical treatment you receive and how you feel about it. That's why, every two years, we ask our readers to rate their plans. This year, in our Ratings of HMOs and PPOs, we present detailed information on 49 HMOs, plans that pay almost all expenses for patients who stick to providers within a network, and 43 PPOs, plans that cost more but allow for more doctor choice." (Consumer Reports)
Employers Share Strategies for Organizational HIPAA Compliance
Excerpt: "At a recent conference, the representatives of several major employers discussed their strategies and experiences bringing their group health plans into compliance with HIPAA's privacy rules. Key compliance steps included determining the plan administration functions, identifying the employees who perform these functions and explaining the proper procedures to them." (Thompson Publishing Group)
New Study Predicts Another Year of Sharp Increases in Medical Premiums
2-page press release. Excerpt: "Employers have seen medical premiums increase an average of 15% in 2003, and expect similar increases in 2004. Hay Group outlines prevalent cost containment strategies." (Hay Group)
Americans Worry More About Health Premium Increases Than Terrorist Attacks
Excerpt: "Politicians take note: Americans fret more about losing their health insurance than being a victim of a terrorist attack, according to the results of a poll released Tuesday." (AP via Washington Post)
Survey Says Health Insurance Premiums Rose in Past Year
Excerpt: "Health insurance premiums for American employees rose 13.9 percent during the past year, the biggest annual jump since 1990, according to a survey of employers released [Tuesday, September 9] in Washington." (Washington Post)
Links to Items on Executive Comp, Benefits in General
House GOP, Bush Administration Consider Veterans' Disability Benefits Without Retirement Cuts
Excerpt: "Under pressure from veterans and House Democrats, House Republican leaders and Bush administration officials are discussing compromise legislation that would allow about 550,000 retired veterans who receive disability benefits to receive full retirement benefits, the Washington Post reports." (KaiserNetwork.org)
Newly Posted or Renewed Job Openings
DC 401(k) or DB Administrator
for Pension Administrators, Inc.
in IL
Retirement Plan Specialist Team Leader
for Diversified Investment Advisors
in IN
ERISA Consultant
for New York Life Investment Management
in MA
Retirement Plan Specialist
for New York Life Investment Management
in MA
Client Servicing Consultant
for New York Life Investment Management
in MA
Defined Benefit Conversion Specialist
for New York Life Investment Management
in MA
Employee Benefits Specialist
for Bank Group in scenic western Colorado resort areas
in CO
Retirement Services Internal Wholesaler
for Transamerica
in CA
Benefits Coordinator
for Henry M. Jackson Foundation
in MD
Newly Posted Conferences
(Post Yours!)
Update on the Prescription Drug Bill and its Potential Effects on Employers and Providers
in ALL STATES
September 24, 2003
Thompson Publishing Group, Inc.
Newly Posted Press Releases
(Post Yours!)
iShares™ included as an Investment Option in The 401(k) Solution
(Internet Investment Education, LLC)
New Study from Hay Group Predicts Another Year of Sharp Increases in Medical Premiums
(Hay Group)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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Editor and Publisher: David Rhett Baker, J.D.
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