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June 2, 2004 - 8911 subscribers
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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
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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)
Senator to Unveil Drug Importation Bill This Week
Excerpt: "Recognizing voter concern about the high cost of medicines, a key U.S. Senate committee chairman said Tuesday he plans to unveil this week legislation that would allow importation of cheaper drugs from Canada and other countries." (Reuters via Yahoo! News)

HIPAA's Next HR Hurdle: Electronic Security Rules
Excerpt: "A new batch of Health Insurance Portability and Accountability Act (HIPAA) standards, this time covering security for your employees' 'electronic Protected Health Information' (ePHI), will take effect for data handled by large health plans (those with receipts over $5 million) on April 21, 2005, and for small health plans one year later, in April 2006. But it's not too early for HR departments to take notice." (SHRMOnline)

FSAs More Attractive With Over-the-Counter Drug Coverage, Despite Challenges
Excerpt: "Now that many over-the-counter drugs and medical products can be reimbursed through flexible spending accounts, consumers are beginning to show more interest in the plans, according to FSA administrators. The benefits for employers of increased FSA enrollment, they say, far outweigh the challenges - and potentially higher costs - associated with substantiating claims for over-the-counter remedies." (BenefitNews.com)

Overview: DOL Issues Final Regulations On COBRA Notice Obligations
Excerpt: "The compliance deadline is the first day of the plan year beginning after Nov. 26, 2004. This will be Jan. 1, 2005 for calendar year plans." (Davis Wright Tremaine LLP)

Overview: DOL Issues Final COBRA Notice Regs and Model Forms
Excerpt: "Besides clarifying existing interpretations as to what is considered to be a good-faith effort at compliance with these notice requirements, the final regs impose two additional notice requirements on COBRA administrators. The final regs also provide safe-harbor notice and election forms that group health plans may adapt to fulfill the initial and post-qualifying event notice requirements." (RIA Tax News)

Overview: FASB Issues Guidance on Accounting for New Medicare Law
Excerpt: "The new FASB Staff Position 106-2, 'Accounting and Disclosure Requirements Related to the Medicare Pres.cription Drug, Improvement and Modernization Act of 2003,' supersedes FSP FAS 106-1, which the FASB published on January 12. For public entities the new FSP is effective for the first annual or interim period beginning after June 15, 2004, although companies can begin applying it immediately." (Deloitte's Washington Bulletin)

Weighing the Pros and Cons of Paying for Gastric Bypass Surgery
Excerpt: "Although gastric-bypass procedures and other bariatric surgeries to combat obesity are popular, they're also costly. Employers and insurers balk at picking up the tab." (Workforce.com)

Audits Can Find Ineligible Participants In Health Plans
Excerpt: "By finding and removing these ineligible dependents, health plan audits can reduce spending and help the company avoid future liability." (BenefitNews.com)

Hospitals Start To Seek Payment Upfront
Excerpt: "Starting later this month, HCA Inc., the nation's largest hospital chain, will begin asking patients to pay their co-payment before receiving nonemergency treatment." (Wall Street Journal via SFGate.com)

Links to Items on Executive Comp, Benefits in General

The Empty Cradle and Shrinking Birth Rates
Excerpt: "The population explosion is overdue for an update. A new book argues that too few -- not too many -- babies pose an unexamined threat to everything from American productivity to your retirement. Join NPR's Neal Conan and his guests for a look at the long-term effects of the empty cradle." (National Public Radio)

Tenth Circuit Issues Opinion in Millsap v. McDonnell Douglas Corporation
Excerpt: "The case is notable due to the fact that it represents one of the few ERISA section 510 plant closing cases where employees have prevailed. The 510 claims were brought by former employees in a class action suit against their employer, alleging that the employer closed one of its plants for purposes of preventing employees from attaining eligibility for benefits under their pension and health care plans." (Attorney B. Janell Grier on BenefitsBlog)

Hewitt Federal Legislation Quick Guide: June 1, 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 ... to learn more about pending legislation in each area. These files were updated on June 1, 2004." (Hewitt)

Newly Posted Events

COBRA's Notice Requirements: How the May 2004 Final Regs Change the Rules
Nationwide on June 17, 2004
presented by Employee Benefits Institute of America Inc. (EBIA)

Late Deposits: Deferrals, Repayments, and Welfare Funds Web Seminar
Nationwide on June 22, 2004
presented by SunGard Corbel

The 2004 Communicating Employee Benefits Seminars
in New York on June 17, 2004
presented by The Conference Board

The 2004 Conference on Retirement
in New York on November 18, 2004
presented by The Conference Board

The 2004 Employee Benefits Seminar
in New York on June 23, 2004
presented by The Conference Board

The 2004 Executive Compensation Seminar
in New York on June 24, 2004
presented by The Conference Board

Webcast: The New Final COBRA Notice Requirements
Nationwide on June 10, 2004
presented by HRTrainingCenter.com

Webcast: The New Overtime Requirements
Nationwide on June 9, 2004
presented by HRTrainingCenter.com
Newly Posted Press Releases

Spectrum Pension Consulting: a Registered Investment Advisory Firm Specializing in Providing Investment Advisory Services to Retirement Plan Sponsors and Participants.
(Spectrum Pension Consulting)

Mortgage Benefits Corp. Introduces No-cost Group Mortgage Benefit for Employees
(Mortgage Benefits Corporation)
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)

Craig Mazzini (Matrix Settlement & Clearance Services)

Michael T. Anderson michael.anderson@raymondjames.com (REACH FINANCIAL GROUP, LLC)
Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Account Executive
for Transamerica
in DC

Employee Benefits Specialist/Benefits Consultant
for Davis Graham & Stubbs LLP
in CO

Product Manager
for New York Life Investment Management LLC
in NJ

Manager Of Benefits
for Diversified Entertainment Company In New York City
in NY

Retirement Plan Client Service Manager
for Fleet Insurance Services
in NJ

Retirement Plan Client Service Manager (CSM)
for TRI-AD
in CA

Financial Services Specialist
for Nationwide Insurance
in OH

Supervisor, Benefits
for Allied Waste Industries, Inc.
in AZ

Benefits Supervisor
for Virginia Tech
in VA

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