| The BenefitsLink Newsletter - Welfare Plans Edition |  |
April 6, 2001
Today's sponsor: The Insider's Guide to DOL Plan Audits (click)
From two former DOL investigators, this must-have book gives you an in-depth look at the Department of Labor-Pension and Welfare Benefits Administration and its operations. Offers insider's tips and guidance on DOL enforcement projects and objectives, and walks the reader through DOL single plan and service-provider audits.
Issue Brief: the Effects of Proposed Patient Protection Legislation on Managed Care (PDF)
6 pages, Spring 2001. Excerpt: "[M]ost health actuaries believe such legislation would ultimately lead to increases in health insurance premiums as well as higher health plan costs. In fact, many actuaries believe such increases would be substantial. In addition, they believe that a good portion of the savings that have been achieved from the introduction of managed health care may eventually be lost." (American Academy of Actuaries)
Medical Privacy Regulation: Questions Remain About Implementing the HIPAA Consent Requirement (PDF)
Excerpt: "You asked us to examine the consent requirement in the federal privacy regulation and assess (1) how it differs from the types of consent providers currently obtain from patients and (2) its potential consequences for patients and providers. You also asked us to review how states that have passed health privacy laws addressed the patient consent issue, and we have included this information ..." (U.S. General Accounting Office)
Health Care Dragged, Clicking and Beeping, Into the Digital Age
Excerpt: "One complaint is that health care is way behind the digital curve, practically stuck in the tar pits of the paper-and-pencil epoch. Another complaint is that health care providers make an extraordinary number of preventable or unjustifiable errors.... 2001 may be the year in which these 2 complaints can be blended into a dual-purpose solution." (Medscape; free registration required)
IRS Corrects Qualified Transportation Benefit Regulations
Excerpt: "As published, the final regulations (TD 8933), do not address what taxable year is used for purposes of the applicability dates in the regulations. These final regulations are being corrected to clarify that the applicability dates in the regulations are based on the employee taxable year and that, for this purpose, an employer may assume that the employee taxable year is the calendar year." (Internal Revenue Service)
Opinion: Reason for HMO Double-Talk is Because It's Employers They're Pleasing, Not Employees
Excerpt: "The envelope was right: This is important information about your health plan. But nowhere inside the envelope is there anything like the summary you've just read. There is no warning that your out-of-pocket costs are about to jump. The cover letter is dull and unhelpful... in short, [the letter includes] none of the information that a typical member would find most useful. Why?" (Boston Globe)
Rating Agency Says Hospitals Can Weather the Impact of HIPAA
Originally published March 26. Excerpt: "Contrary to the hospital industry's dire predictions, hospitals will not suffer serious financial harm by complying with the Health Insurance Portability and Accountability Act (HIPAA), Moody's Investors Service concludes in a special report." (Medscape; free registration required)
Another Question is Answered in the Stock Options, Restricted Stock and Other Long-Term Employment Incentives Q&A Column
If I'm granted stock options while living in State A, but by the time I exercise those options I live in State B, where should I report my income from the exercise of the options? (BenefitsLink.com)
Another Question is Answered in the Stock Options, Restricted Stock and Other Long-Term Employment Incentives Q&A Column
I'm trying to design and implement an option plan for my LLC in order to attract talented executives and other staff. My major dilemma is that I foresee an initial public offering (IPO) and conversion to a C-corporation within 18-24 months. What considerations must I keep in mind in structuring this plan? Do you have any suggestions on what type of plan to offer? Are there any published guidelines available? (BenefitsLink.com)
The 20 Deadliest Words and Phrases In Claims Writing
Excerpt: "As someone who teaches on-site seminars in 'Effective Business Writing for Claims Professionals,' I read hundreds of denial letters, letters to physicians, letters to opposing attorneys, letters to insurance commissioners, and letters to a variety of claimants and vendors. Rarely do I see a letter that completely avoids what I call the '20 Deadliest' words and phrases commonly found in claims writing." (Dr. Gary Blake in Claims Magazine)
Graef Crystal: It's Time for a Yard Sale at AOL Time Warner
Excerpt: "As AOL Time Warner Inc. keeps on integrating its two predecessor companies, it had better shove this to the top of its list of urgent priorities: holding a yard sale of top executives." (Graef Crystal, on Bloomberg.com)
Shareholder Resolution with United Technologies Would Link Exec Pay to Employee Satisfaction
Excerpt: "Donna Benson, a 21-year veteran of Pratt & Whitney, wants to tie executive pay to employee development and satisfaction. Benson says one of the major reasons she filed the resolution was the morale of here co-workers. Last year the company increased senior managers' pay and bonuses even as the company continued to shed jobs." (SocialFunds.com)
Legislative Activity on the Benefits Front: April 2001 (PDF)
Excerpt: "And while the designation of the measure as H.R.10 signifies it as a key priority for the House leadership and the Bush Administration, the prospects for its enactment-- notwithstanding the 286 cosponsors-- might very well be tied to the outcome of the White House's proposed tax cuts." (Milliman & Robertson, Inc.)
2000 Legislative and Regulatory Year in Review and the Outlook for 2001
8 pages. Excerpt: Hewitt has published 'a short paper summarizing the major human resource legislative and regulatory developments in 2000, and the outlook for activity in 2001." (Hewitt Associates)
Newly Posted or Renewed Job Openings (Post Yours!)
| 401(k) Plan Consultants | for Trustar Retirement Services in MA |
| Client Manager | for Fidelity Investments in TX |
| Administration Project Manager | for Aon Consulting, Inc. in MD |
| Senior Accountant-Retirement Plans | for The Fremont Group in CA |
Newly Posted Press Releases
| Rosalie Wilson Frazier, APA Joins The Pension Group, Inc. As Client Relationship Manager (The Pension Group, Inc.) |
| Financial ADVICE or EDUCATION? NAGDCA To Focus on "Hot" Topic at its Regional Education Meeting (National Association of Government Defined Contribution Administrators) |
| $82 BILLION DOLLAR MANULIFE FINANCIAL JOINS WITH 401KEXCHANGE.COM (401kExchange.com) |
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