| BenefitsLink Welfare Plans Newsletter |   |
February 2, 2004 - 8,783 subscribers
Today's sponsor: American Lawyer Media
(Click on company name or banner to learn more.)
Complete Benefits Law Guidance from Law Journal Press The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field. Get legal and practical advice from leading experts on everything from COBRA to ERISA, "contingent" employees to family and medical leave, and more. Browse our product listings for detailed information and special offers.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Grocery Clerks March to End Labor Strike Over Health Insurance Cost Sharing
Excerpt: "Thousands of Southern California grocery clerks, many struggling under the financial strain of a nearly four-month-long supermarket strike, rallied with supporters from other unions Saturday to urge store owners to return to the bargaining table.... Both sides remain deadlocked over contract issues, particularly the cost and scope of health benefits." (Washington Post)
Bush Says He's Undaunted by Drug Costs
Excerpt: "President Bush said on Friday that the sharp increase in the projected cost of the new Medicare pr*scription drug benefit would not prevent him from meeting his goal of cutting the federal budget deficit in half during the next five years." (New York Times; one-time registration required)
Opinion: Two Cheers for the Bush Health Proposals
Excerpt: "In his State of the Union address, President Bush proposed a tax deduction for people who purchase catastrophic (high-deductible) health insurance, in addition to his previous health proposals. Such insurance could be combined with Health Savings Accounts (HSAs), deposits to which are already deductible.... [It is an important step in the direction of a more sensible health care system." (National Center for Policy Analysis)
COBRA Notice By Phone Was Valid, Court Says
Excerpt: "COBRA information given to the widow of a former employee by an employer's representative during a telephone conversation constituted valid notification of COBRA rights, according to a recent federal court decision. ERISA, the federal law governing COBRA administration, currently does not require COBRA notices to be in writing." (OnQue Technologies, Inc.)
Are You Handling Partial COBRA Premium Payments Correctly?
Excerpt: "This COBRA tip discusses the IRS regulations governing partial payment of COBRA premiums and suggests how to properly administer this often misunderstood legal obligation." (OnQue Technologies, Inc.)
In HR, Little Impact from Massachusetts Gym Marriage Ruling
Excerpt: "Companies also like the fact that they can extend partner benefits for relatively little additional cost. In the Hewitt survey, 85 percent of the companies that offered partner benefits said that it added only 1 percent to their overall health-care costs." (Workforce.com)
Captives Gain Favor As Benefits Funding Tool
Excerpt: "Funding long-term disability, group life and other employee benefits through an employer's existing captive insurance company may provide certain financial and tax benefits. However, it may not be the most effective way to reach a company's benefit goals." (BenefitNews.com)
Opinion: Everything You Thought You Knew About Employee Recognition Is Wrong
Excerpt: "In Bob Nelson's opinion, formal recognition programs are an anachronism. He says that the $27 billion-plus incentive industry, with its focus on moving merchandise, hasn't helped matters. Nelson suggests a more informal, collaborative approach." (Workforce.com)
Opinion: Wal-Mart's Costs Can't Always Be Measured
Excerpt: "Wal-Mart freely, even boastfully, acknowledges that as many as 40% of its employees get their health coverage elsewhere, such as from the employers of spouses or parents or from programs like Medical and Medicare. This is community-mindedness the Wal-Mart way: Stick the other guy with the responsibility for your own workforce. Wal-Mart ruthlessly prices its health coverage to discourage employees from placing their own spouses and children on its plans ..." (Michael Hilt in the Los Angeles Times; one-time registration required)
Overview: First Guidance on Health Savings Accounts (PDF)
Excerpt: "The Treasury Department recently issued Notice 2004-2, which provides guidance on using HSAs. The Notice addresses several common questions about HSAs." (The Segal Company)
Transcript of Health Care Debate, Including Canadian Drug Importation Issue (PDF)
31 pages. Participants in the January 27, 2004 event included Milton Friedman. (Via Physicians for a National Health Plan)
New Funding Options May Breathe Life Into Limp LTC Buying Trends
Excerpt: "Just six million Americans have purchased LTC policies, compared with the some 76 million baby boomers that are primary targets for coverage. However, employers now have new LTC vehicles to offer employees that experts believe may be able to rev up sluggish buying trends." (BenefitNews.com)
Links to Items on Executive Comp, Benefits in General
Description of Finance Committee Chairman's Bill Scheduled for Markup Today (PDF)
5 pages; includes Sen. Grassley's new provisions on corporate-owned life insurance (COLI). (U.S. Congress Joint Committee on Taxation)
New Book: Selected Issues in Stock Options
The NCEO presents excerpts from Selected Issues in Stock Options, a retitled and updated version of the book previously known as Stock Options: Beyond the Basics. Topics covered include administration, securities issues, divorce, death, underwater options, and more. A glossary and an index are included. (National Center for Employee Ownership)
Text of Fifth Circuit Case Finding Wal-Mart Had No 'Insurable Interest' in COLI Policies (PDF)
23 pages. Excerpt: "We hold that: 1) Texas law, which requires an 'insurable interest' for valid life insurance policies, governs the dispute; 2) an employer has no insurable interest in an ordinary employee under Texas law; ... Wal-Mart acted in pursuit of tax benefits related to the deductibility of premium payments ... After Congress and the IRS eliminated the tax advantages of Wal-Mart's COLI program, Wal-Mart unwound the otherwise unprofitable program ..." (U.S. Court of Appeals for the Fifth Circuit, via FindLaw.com)
Failure to Properly Report Compensation Can Result in 'Automatic' Excess Benefit Transaction
Excerpt: "A recent article written by the IRS for internal training purposes serves as a timely reminder that failure to properly report compensation to the IRS may result in intermediate sanctions penalties being imposed on senior executives under §4958 of the Internal Revenue Code of 1986. Organizations generally are required to report compensation on Forms W-2 and Forms 1099 by January 31." (BNA Tax Management)
Newly Posted Events
HIPAA After the Hoopla: Share the Pain
in Ohio on February 19, 2004
presented by Worldwide Employee Benefits Network (WEB) - Cleveland Chapter
LOOKING FOR A ONE-STOP IRS BENEFITS UPDATE?
in California on February 1, 2004
presented by Western Pension & Benefits Conference - Los Angeles Chapter
ERISA Basics, 18th National Institute
in Illinois on May 19, 2004
presented by ABA Joint Committee on Employee Benefits
Employee Benefits in Mergers and Acquisitions, 18th Annual National Institute
in New York on April 22, 2004
presented by ABA Joint Committee on Employee Benefits
Introduction to ESOPs
in Oregon on April 13, 2004
presented by National Center for Employee Ownership
Introduction to ESOPS
in California on March 24, 2004
presented by National Center for Employee Ownership
Introduction to ESOPs
in Washington on April 14, 2004
presented by National Center for Employee Ownership
Introduction to ESOPs
in California on March 25, 2004
presented by National Center for Employee Ownership
Introduction to ESOPs
in Connecticut on March 3, 2004
presented by National Center for Employee Ownership
Introduction to ESOPs
in Maryland on March 31, 2004
presented by National Center for Employee Ownership
Introduction to ESOPs
in Ohio on April 1, 2004
presented by National Center for Employee Ownership
Newly Posted Press Releases
The President’s Savings Proposals: Tax-Free Savings and Retirement Security Opportunities for all Americans
(Internal Revenue Service (IRS))
Newly Posted or Renewed Job Openings
Retirement Consultant
for Lincoln Financial Group
in AZ, CO, KS, NM, OR
Plan Tax & Reporting Supervisor
for The Vanguard Group
in PA
Personal Trust And Investment Management Sales (BDO)
for Channel Synergy... recruiter...first advertised here in 1995 !
in IL, MI, MN, WI
Account Executive
for Transamerica-The Winning Organization
in IL
Account Specialist
for Leading Producing TPA- Excellent Opportunity for Growth
in CA
Customer Service Representative
for Flexsoft, Inc.
in ALL STATES
Human Resources Supervisor
for Stanley Associates, Inc.
in VA
Daily Valuation Specialist/DC Record-Keeper
for R-Tech Consultants, Inc.
in CA
Software Business Analyst
for SunGard Employee Benefit Systems
in AL
Flex Benefits Team Leader
for BB&T/Stanley Hunt DuPree & Rhine
in SC
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
Copyright 2004 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Published by:
BenefitsLink.com, Inc.
https://benefitslink.com/about.html
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
Editor and Publisher: David Rhett Baker, J.D.
Housekeeping: