| The BenefitsLink Newsletter - Welfare Plans Edition |  |
March 7, 2001
Today's sponsor: The COBRA Administrator Handbook (click to order now) (click)
The first and only compliance manual designed specifically for COBRA self-administration. Simple step-by-step format ensures accurate COBRA documentation, efficient record keeping and complete COBRA compliance protection. The only manual written by expert third-party administrators for COBRA nonprofessionals.
Medical Technologies Expected to Drive up Healthcare Costs
Excerpt: "Unfettered use of new medical technologies could be responsible for as much as one third of the nation's projected increases in healthcare costs over the next 5 years, according to an analysis commissioned by the Health Insurance Association of America and the Blue Cross and Blue Shield Association." (Medscape; free registration required)
The Impact of Medical Technology on Future (PDF)
Excerpt: "Medical technology has sometimes been called the 'culprit' behind the rise in health spending in the U.S.-- which increased to $3,632 per person in 1998 up from $297 in 1970 ... This study examines the role technology has played, relative to other factors such as inflation and the aging of the population, and its likely influence in the future." (Project Hope, Center for Health Affairs, for the Health Insurance Association of America and Blue Cross and Blue Shield Association)
Ruling Keeps Alive Case Against HMOs
Excerpt: "In a mixed ruling for the managed care industry, a U.S. district judge in Miami ruled Friday that a key federal law does not bar doctors from pursuing class-action lawsuits against HMOs. But the judge also set a tough standard for plaintiffs' lawyers seeking to prove that managed care companies engaged in racketeering to pump up profits. Insurers have long argued that the federal benefits law known as ERISA preempts federal lawsuits challenging decisions by HMOs." (Hartford Courant)
Bell Telephone Retiree Association Calls for Support of Retiree Health Benefits Protection Act
Excerpt: "Congressman Tierney will be reintroducing the Emergency Retiree Health Benefits Protection Act of 2001 (formerly known as HR 5405) at the end of March. This bill, which the Association drafted and Congressman Tierney agreed to sponsor, is extremely important to retirees from all industries in all states.... We need you to contact your Congressperson immediately. E-mail, call and write-- don't hold back." (Association of BellTel Retirees)
Illinois Bill Would Place HMOS under Tighter Rules
Excerpt: "House Bill 2556 tightens rules under which HMOs could, among other things, appoint board members and handle cash and assets. The bill's provisions address practices uncovered in the case of a now-defunct HMO, American Health Care Providers, and other health insurers forced in recent years into liquidation ..." (The [Springfield, IL] State Journal-Register )
Private Insurance for Long-Term Care Is a Pro-Con Topic
Excerpt: "The insurance is controversial. Some believe it's the only way to stroll through the golden years, but others say the expense is unwarranted." (Allentown [Pa.] Morning Call)
Boca Raton, Fla., Doctor Stirs Some Worry Among HMOs
Excerpt: "Dr. Steven M. Scott, the physician-turned-entrepreneur who has been buying South Florida's most troubled health maintenance organizations, has caused quite a stir in the industry. What are his motives? Can he turn around four money-losing HMOs?" (South Florida Sun-Sentinel)
Investors React to Sanctions Against Santa ANA, Calif.-Based HMO
Excerpt: "The share price of PacifiCare Health Systems Inc. made a beeline downward as investors reacted belatedly and harshly to news that California regulators had sanctioned the giant HMO for late payments to doctors and hospitals." (Orange County [Calif.] Register)
Providers Gain Market Clout as Managed Care Loses Its Bite, Group Says
Excerpt: "While hospitals and physicians are using new-found bargaining clout to win payment increases from health plans, increased consumer demand fueled by the managed care backlash is hampering health plans' cost-control efforts, according to initial findings from the Center for Studying Health System Change's (HSC) latest round of community site visits." (Center for Studying Health System Change)
Graef Crystal: Coke's Board Needs to Check Its Daft Pay Pact
Excerpt: "No matter how they perform, chief executives of Coca-Cola Co. always earn a ton of money." (Graef Crystal, on Bloomberg.com)
Keeping Options Afloat
Excerpt: "The [upcoming annual Walt Disney Company annual] meeting could foreshadow a lively proxy season this spring, say corporate-governance experts, with stock-option compensation the hottest topic.... The heart of the issue is what to do about last year. Nasdaq posted its worst year ever in 2000, meaning thousands of senior executives and rank-and-file employees are sitting on options with strike prices that are far above the current share price." (CFO.com)
Newly Posted or Renewed Job Openings (Post Yours!)
| 401(k) Pension Administrator | for The Pension Group, Inc. in CA |
| 401(k) / Retirement Plan Administrator | for Howard Simon & Associates, Inc. in IL |
| HR/Benefits Administrator (Contract Position) | for Visual Networks in MD |
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