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May 7, 2004 - 8789 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)
House GOP Plans Floor Action On Three Health Bills, Including HSA
Excerpt: "House Republicans will bring to the floor the week of May 10 three health care-related bills, one that would cap damages in medical lawsuits, another that would allow federally regulated association health plans for small firms, and a third that would permit the transfer of unused FSA funds into health savings accounts, House Majority Leader Tom DeLay (R-Texas) said May 5." (BNA Health Care's Daily Report via Council for Affordable Health Insurance)
Retirees Sue in Solutia Bankrup.tcy Case
Excerpt: "Monsanto Co. and Pharmacia Corp. should be forced to cover the estimated $1.3 billion cost of benefits for all Solutia Inc. and some Monsanto retirees and dependents if bankrupt Solutia can't do so, a panel for the retirees argues." (AP via The [Columbia, S.C.] State)
California Lawmakers Eye Limits On Health Care Profits
Excerpt: "California lawmakers are attempting to hold health care companies accountable for exorbitant profits, using regulations on the auto insurance industry as a guide." (Daily News of Los Angeles via the Foundation for Taxpayer & Consumer Rights)
For Seniors, Medicare's New Card Isn't a Cinch
Excerpt: "The rollout of the biggest expansion of the Medicare program since its inception was greeted this week with the kind of political fanfare and controversy expected of a hot issue in a tightly contested election year. But it also engendered a healthy dose of confusion." (Christian Science Monitor)
Health Information Technology Legislation to Be Unveiled This Summer
Excerpt: "Sen. Judd Gregg, Chairman of the Senate Committee on Health, Education, Labor and Pensions (HELP), ... announced he will introduce legislation promoting use of health information technology (HIT). The proposal will closely track ideas outlined today by President Bush." (HIPAAdvisory)
Pennsylvania Opens Counteroffensive Against High Drug Costs
Excerpt: "Pennsylvania will soon launch a counter-offensive against drug companies' efforts to increase sales of their newest, most expensive medicines. The state will send a force of 40 pharmacists and doctors into physicians' offices this fall to try to persuade them to prescribe the most cost-effective drugs. NPR's Richard Knox reports." (National Public Radio)
More Americans Seeking Mental Health Treatment
Excerpt: "A new poll shows that mental health treatment is becoming mainstream, with 27% of American adults--an estimated 59 million people--having received treatment in the last two years." (Business Insurance)
Overview: RAND Creates First National Report Card on Quality of Health Care in America
Excerpt: "Elizabeth McGlynn led a team of experts in the largest and most comprehensive examination ever conducted of health care quality in the United States. Called the Community Quality Index Study, it assessed the extent to which recommended care was provided to a representative sample of the U.S. population for a broad range of conditions in 12 metropolitan areas." (RAND Corporation)
"Prudent Layperson" Laws Do Not Increase Inappropriate Emergency Room Visits
Excerpt: "So-called 'prudent layperson' laws have, for the most part, been effective in preventing health insurers' denial of coverage for emergency services that a 'prudent person' would deem necessary, according to a study in the May issue of the Annals of Emergency Medicine. Moreover, the study shows that these laws have not resulted in an increase in inappropriate ED use, as was feared. Since 1997, forty-seven states have enacted prudent layperson laws ..." (Reuters via Medscape; one-time registration required)
Bookmark: HSA Report
Excerpt: "HSAReport is an intelligence service of benefits information group, a leading provider of employee benefit plan market intelligence. HSAReport capsulizes each day's news stories about Health Savings Accounts (HSAs) and High Deductible Health Plans (HDHPs), and provides links to further information direct from the participants in this emerging segment of the trillion-dollar health benefits market." (HSAReport.com)
Characteristics of the Uninsured: a View from the States (PDF)
57 pages. Excerpt: "The Robert Wood Johnson Foundation (RWJF) commissioned the State Health Access Data Assistance Center (SHADAC), located at the University of Minnesota School of Public Health, to develop a comprehensive state-by-state analysis of Americans without health insurance." (States Health Access Data Assistance Center of the University of Wisconsin)
Opinion: Don't Believe Results of Commonwealth Fund Survey on Employer Attitudes About Healthcare
Excerpt: "A majority of employers support mandatory coverage?! How can that be? It can't be, and it isn't." (Greg Scandlen, published by the Heartland Institute)
Links to Items on Executive Comp, Benefits in General
Deferred Compensation Planning Opportunities For Executives of Tax-Exempt Entities
Excerpt: "[C]hanges in the [Tax] Code, which became effective in 2002, eliminated the offset of amounts deferred under an eligible Code Section 457 plan against deferrals that the executive may make under a tax-sheltered annuity or a 401(k) plan, thereby permitting an executive to 'double up' his or her pre-tax deferrals." (Buchanan Ingersoll)
Hewitt Federal Legislation Quick Guide Updated Through May 4, 2004
Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law, regarding health and welfare benefit plans, retirement plans, and human resources and employment law. Click on the links below to learn more about pending legislation in each area. These files were updated on May 4, 2004." (Hewitt)
National Council on Teacher Retirement Publishes Washington Wrap-Up as of May 4, 2004 (PDF)
5 pages. Excerpt: "(Formerly Federal Capsule) ... Federal Legislative and Regulatory Proposals of Interest to NCTR Members" (National Council on Teacher Retirement)
The New Bible On Options Expensing
Excerpt: "[I]t may be corporate finance departments that should be howling. The problem is a small preference expressed by the FASB that will make their lives much more difficult, but should at the same time reduce the impact on corporate earnings from the switch to expensing." (Treasury & Risk Management)
Small Businesses May Get Different Stock Option Expensing Route
Excerpt: "FASB Chairman Robert Herz told a Congressional committee the nation's accounting rulemaker was concerned about a 'cost-effective' approach to mandatory stock option expensing for small businesses." (PLANSPONSOR.com; one-time registration required)
Population Aging: It's Not Just the Baby Boom
Excerpt: "[T]he baby boom is not the reason for the aging of the population; the aging is the result of long-term trends of increasing longevity and declining fertility. The bust/boom/bust pattern in fertility rates that resulted in the baby boom simply changes the path to an older society ..." (Alicia H. Munnell, published by the Center for Retirement Research at Boston College)
Newly Posted Events
Form 5500 Preparation Workshop
in Pennsylvania on May 26, 2004
presented by Central Pennsylvania Chapter - ISCEBS
Understanding Qualified Plans and 401(k) Plan Update
in Colorado on August 23, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in Ohio on September 1, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in Georgia on September 8, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in Illinois on September 20, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in Michigan on September 29, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in California on October 20, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in North Carolina on November 3, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in Ohio on November 10, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Understanding Qualified Plans and 401(k) Plan Update
in Texas on November 15, 2004
presented by Technical Answer Group, Inc. and Global Benefit Advisors
Newly Posted Press Releases
PBGC Proposes Expanded Enforcement For Failure To Inform Workers of Pension Underfunding
(Pension Benefit Guaranty Corporation (PBGC))
Standard Insurance Company Introduces Participant Reports Online
(Standard Insurance Company)
American Express Retirement Services Announces New Vice President, National Sales Manager
(American Express Retirement Services)
Vanguard Founder Bogle Calls For Better Mutual Fund Governance, Highlights Nine Emerging Issues
(Bogle Financial Markets Research Center)
Newly Posted or Renewed Job Openings
Qualified Plan Administrator
for Florida Pensions, LLC
in FL
Partnership Associate
for Transamerica
in CA
Senior Pension Administrator
for The Pension Group, Inc.
in CA
Counsel
for American Express
in MN
Sales Consultant
for MassMutual Financial Group
in MA
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