Welfare Plans Edition
January 9, 2001
Today's sponsor is EmployeeBenefitsJobs.com (click on banner for more information)
 |
Welcome to the #?!!*&*! Future of Medicine
Excerpt: "The health care industry as we know it is at the cusp of a staggering change, one that promises to focus on wellness rather than illness, one that centers on the needs of the patient instead of the insurance company, one that has the potential to deliver necessary care to virtually everyone at a fraction of today's cost. The only problem is (rimshot, please!): the health care industry as we know it." (Washington Post)
Supreme Court May Hear ERISA Case on Preemption of State Laws Requiring Independent Claims Review
Excerpt: "The U.S. Supreme Court asked the federal government Monday for its views on whether states may create an independent medical review process when health plan members have been denied coverage. The government's response could take several months. Once it has been received, the high court will decide whether it will hear arguments and rule in the case involving a Texas law." (Reuters via Excite! News)
The Basics of Short-Term Disability Insurance
Excerpt: "According to the American Council of Life Insurers, nearly one-third of all Americans will suffer a serious disability between the ages of 35 and 65. Statistics like that make should make short-term disability insurance a vital piece of your overall financial plan." (insure.com)
Perk Alert: Companies Try Prizes Instead Of Cash Bonuses
Excerpt: "As technology companies experiment with new strategies to recruit and retain workers, many are rewarding top workers with points, prizes and gadgets instead of the traditional tech carrots: cash bonuses and stock options. The trend is on the rise in tech hubs such as Silicon Valley and Boston, where worthless stock option packages and high turnover have created a relatively disloyal work force and hot competition among recruiters." (CNET via Yahoo! News)
Insurance Coverage For Birth Control: The EEOC Speaks
Excerpt: "In an important recent ruling, the Equal Employment Opportunity Commission (EEOC) held that employers who fail to provide insurance coverage for prescription contraceptives-- such as birth control pills, Norplant, Depo Provera, or intrauterine devices (IUDs)-- may be unlawfully discriminating against their female employees (and male employees with female dependents) on the basis of sex, if they cover other preventive treatments." (JoAnna Grossman, on Findlaw.com)
Opinion: Denial Of Birth Control Insurance As A Form Of Sex Discrimination
Excerpt: "Birth control is expensive, and many women sensibly believe that it should fall well within the scope of any reasonably comprehensive health plan. The fight for coverage as a matter of gender equality has been a difficult one, however. The challenge has been finding the appropriate analogy to women's birth control in men's repertoire of medical needs." (Sherry F. Colb, on Findlaw.com)
(Following also appears in Retirement Plans Edition)
New ruling and determination letter procedures for 2001 issued
The IRS has now issued Internal Revenue Bulletin 2001-1, which contains its annual revenue procedures with updates on procedures for ruling, determination, technical advice, etc. requests. (Internal Revenue Service)
New Issue Online of the Pension & Benefits Update Email Newsletter by Tax Analysts: January 8, 2001
Company President Subject to Excise Tax on Prohibited Transactions; IRS Issues Proposed Regs on Transferring Pension Assets to Retiree Health Accounts; Disclaimers of IRAs, Annuities Sufficient for Charitable Deduction; Stock Sold to ESOP Not 'Readily Tradable'; Reorganization Accomplished After ESOP Merger Okayed; Divorce-Driven Change in IRA Periodic Payment Schedule Approved; IRS Extends Nonapplication of Nondiscrimination Rules to Government Plans and Church Plans; more. (Tax Analysts, Inc.--see www.taxbase.org)
Bush Sticks With Nomination of Linda Chavez for Secretary of Labor
Excerpt: "President-elect George W. Bush said yesterday that he stood by Linda Chavez, his embattled nominee to be labor secretary, even as his aides were reviewing revelations that she provided housing and money to an illegal Guatemalan immigrant for two years in the early 1990s." (Baltimore Sun)
Stock Options for CEOs: Funny Money, or Real Incentive?
Excerpt: "... when companies offer stock options to executives in place of salary, they often have to give them options valued at 250% or so of the cash. While stock options may feel like funny money to their recipients, they represent a genuine cost to their issuers." (Business Week, free registration required)
House Benefits Committees and Senate Finance Committee Get New Leaders
Excerpt: "The two House of Representative Committees with jurisdiction over employee benefits issues have new leaders. Republicans voted [January 4, 2001] to install Rep. Bill Thomas of California as head of the tax-writing Ways and Means Committee and Rep. John Boehner of Ohio as leader of the Education and Workforce Committee." (ERISA Industry Committee)
Cisco Mulls Changes to its Option Strategy
Excerpt: "It's a dilemma shared by many companies these days, especially victims of the tech meltdown. How do you motivate employees who have seen their companies' stock price fall well below the strike price on their options?" (CFO magazine)
| Managing Director-Executive Benefits-Dallas | for Clark Bardes/
Compensation Resource Group in TX |
| Actuary/Programmer | for Bolton Offutt Donovan, Inc. in MD |
| Pension Software Support | for Leading Pension Software Company in FL |
| Plan Administrator | for Pen-Cal in CA |
| Health and Welfare Professional | for Prestigious Employee Benefits
Consulting Firm in IL |
| Project Leader | for ADP in NJ |
| Assistant Administrative Consultant | for Buck Consultants in NJ |
| Communications Associate | for Fidelity Investments in MA |
| Plan Document/Compliance Specialist | for Summit Financial
Corporation in MA |
| Client Relationship Manager | for Fidelity Investments in KY, OH |
| Education Consultant - 401K Plans | for Fidelity Investments in IL, KY, MA, NJ, NY, OH, PA, TX |
| Employee Benefits Consultant | for Fidelity Investments in KY, OH |
| Sr. Manager - 401K Client Relationships | for Fidelity
Investments in KY, OH |
| Project Manager - 401K Implementation | for Fidelity
Investments in KY, OH |
| Benefits Analyst | for Watson Wyatt & Company, a global human capital
consulting firm in CA |
| Communications Consultant | for New York Life Benefit Services in MA |
| Communications Meeting Specialist | for New York Life Benefit Services
LLC in MA |
| HR Intranets with Employee Self-Service | in GA on February 26, 2001 presented by International Quality and Productivity Center |
| E-HEALTHCARE: HOW THE INTERNET AND SELF-SERVICE CAN TRANSFORM YOUR EMPLOYEE COMMUNICATIONS | in NY on January 25, 2001 presented by WEB - NEW YORK CHAPTER |
Subscribe to the Retirement Plans Edition, too (click)
Copyright 2001 BenefitsLink.com, Inc.
Feel free to forward this email to friends, colleagues or clients, if no fee is paid to you and the email is forwarded in its entirety. Thanks!
BenefitsLink is a trademark of BenefitsLink.com, Inc., published by Dave Baker with much help from Mary Hall and lots of friends.
To subscribe (free): visit http://www.benefitslink. com/newsletter - or the person desiring to subscribe can send an email to listmanager@postmastergeneral.com, with this as the subject of the email: subscribe BLWelfare
We have an online archive of prior issues at
https://benefitslink.com/new sletters/
|
DEPARTMENTS
|
|
BENEFITS
SPEAKERS
Looking for a speaker for your benefits group? Want to throw your hat into the ring? Free. _____________ BENEFI TS CANDIDATES Need personnel? It's like fishing in a barrel here. _____________ BENEFITS JOBS Need a benefits job? Sort the openings by their distance away from you. _____________ BENEFITSBOARDS.NET Exchange questions and tips with colleagues. Co-sponsored by us and several employee benefits organizations. _____________ PROGRESSIONS Promotions and new personnel in the employee benefits community. _____________ Q&A COLUMNS Experts field questions online, submitted by readers via email. _____________ CONFERENCES View by location, by sponsoring organization, or by date. _____________ SOFTWARE Largest listing of benefits software on the net: descriptions, downloads. _____________ ADVERTISE Ads are our sole source of support. No subscription fees! _____________ CONTACT US Questions? Comments? Suggestions? Copyright 2001 BenefitsLink.com, Inc. All rights reserved. BenefitsLink is a trademark of BenefitsLink.com, Inc. |