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April 20, 2004 - 8825 subscribers
Today's sponsor: Employee Benefits Institute of America Inc.

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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Whistleblower Alleges Wrongdoing at UnumProvident
Excerpt: "A former UnumProvident Corp. customer care specialist alleges the disability insurer withheld benefit payments to pad the company's bottom line and that her discoveries resulted in her termination." (PLANSPONSOR.com; one-time registration required)

Health Savings Accounts to Arrive Next Year for Federal Gov't Employees, OPM Says
Excerpt: "The government will offer 'health savings accounts' as a health insurance option to federal employees and retirees next year, the Office of Personnel Management said in a letter to insurance companies yesterday. The decision was quickly denounced by Charles L. Fallis, president of the 400,000-member National Association of Retired Federal Employees." (Washington Post; one-time registration required)

Illinois Considers Europe as Potential Pres.cription Drug Importation Source
Excerpt: "Illinois Gov. Rod Blagojevich (D) on Tuesday will announce plans to send state regulators to investigate the pres.cription drug market in Europe to find a new source for drugs reimported from other nations as pharmaceutical companies 'try to restrict imports of cheap pres.cription drugs from Canada,' the Chicago Sun-Times reports." (KaiserNetwork.org)

Springfield, Mass. Saves $2 Million By Importing Drugs from Canada
Excerpt: "The city has saved about $2 million over the past nine months by buying pres.cription drugs from Canada, according to the head of Springfield's insurance program. With the encouragement of the mayor, insurance director Chris Collins is trying to get more workers and retirees to sign up for the city's groundbreaking voluntary program ..." (Boston Globe)

Bill To Ban Discrimination of Employees Based on Genetic Stalled in House
Excerpt: "A House version of a bill (S 1053) that would ban discrimination against individuals by employers and insurers based on their genetic information remains stalled in a 'textbook case of obstruction by inertia,' CongressDaily reports." (KaiserNetwork.org)

Employees' Health Plan Contributions Rose In the Past Decade
Employees increasingly have been required to make contributions toward their group health benefits costs, and those contributions increased substantially in the decade from 1992 to 2003, according to the BLS. Among private sector employees (full-time and part-time combined) who were covered by employer-provided medical care plans in March 2003, 78% of those with individual coverage and 90% of those with family coverage were required to contribute toward the cost of coverage. (Spencer Benefits Reports)

Links to Items on Executive Comp, Benefits in General

Deflating the Golden Parachute
Excerpt: "The new Internal Revenue Service golden parachute regulations that took effect January 1 may help you better understand the ground rules for these controversial packages--but they also may cost you and your executives money." (PLANSPONSOR.com; one-time registration required)

Newly Posted Events

Boosting Savings in Spite of ERISA & Qualified and Non-Qualified Plans for Tax-Exempt Organizations
in Massachusetts on May 19, 2004
presented by MA Chapter-National Institute of Pension Administrators
Newly Posted Press Releases

China's Aging Surge Threatens Economic Prospects; Funded Pension System, Old-Age Safety Net Required to Avoid Hardship
(Prudential Financial, Inc.)
Newly Posted or Renewed Job Openings
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Defined Benefit/Defined Contribution Account Manager
for National Retirement Services, Inc.
in CA, NC

Plan Administrator
for Thomas F Barrett Inc.
in MD

Account Executive - Client Relationship Management
for Diversified Investment Advisors
in NY

Assistant Plan Administrator
for ProPension, Inc.
in MI

Vice President, Benefits Law
for Top Media and Entertainment Company
in NY

Plan Administrator
for LarsonAllen Financial, LLC
in MN

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