| The BenefitsLink Newsletter - Welfare Plans Edition |  |
August 7, 2001 - 6,210 subscribers
Today's sponsor: Glasser LegalWorks (click)
This timely "how to" program will address new DOL claims procedures, the avoidance of fiduciary liability after the Harris Trust decision, identifying conduct that might trigger a DOL investigation under its Strategic Enforcement Plan, and more. Designed for ERISA fiduciaries, investment advisors, and in- house, corporate, tax, labor, and insurance counsel. September 21 in Chicago; October 24 in New York. Click for full details!
HMOs Back in Black After 3 Years of Losses
Excerpt: "The U.S. health maintenance organization (HMO) industry returned to profitability last year by earning $990 million, following 3 years of aggregate losses, a study of 492 companies released on Monday by Weiss Ratings Inc. showed." (Reuters Health via Medscape; free registration required)
HUD Officials Nix Flexible Work Schedules for Managers
Excerpt: "The memo revoked HUD managers' option of working 10-hour days for four days a week, rather than the traditional 8-hour, 5-day work week schedule.... HUD Secretary Mel Martinez supported doing away with the perk, saying in a written statement that most senior managers at HUD need to be available during a normal work week." (GovExec.com)
Health Care: It Costs Less
Excerpt: "It may be hard to believe that health care today is cheaper than it's ever been, but an analysis of eight common diagnoses shows that health care is on average about 28% less expensive that it was 30 years ago -- the good old days when it seemed so affordable." (BizJournals.com)
Analysis: New Requirements for Health Plan SPDs (PDF)
Excerpt: "This article provides a discussion of the practical implications of the new [Department of Labor regulation's] requirements for group health plan SPDs, checklists to determine the level of SPD compliance, and a discussion of optional compliance methods." (Milliman USA)
Analysis: Mental Health Parity Advances
Just before the August Congressional recess, the Senate Committee on Health, Education, Labor, and Pensions approved by voice vote the Mental Health Equitable Treatment Act of 2001, S. 543. The bill was introduced in March 2001 by Sen. Pete Domenici (N.M) with 13 cosponsors, including Sen. Paul Wellstone (Minn.). The committee approved the bill on August 1. (Spencernet)
Opinion: Could HMOs Have Healed Themselves?
Excerpt: "The patients' bill of rights was born of nightmarish stories about health maintenance organizations. But changes have made those stories more rare." (St. Petersburg Times)
How To Get Employees To Spend Less On Doctors
Excerpt: "... some employers are experimenting with a more clearly defined form of the approach that seems to protect employees a bit more. Since 'defined contribution' already has gotten a bad name, consultants are calling it 'self-directed' or 'consumer-driven' health care." (CFO.com)
Opinion: the Little Guy vs. the HMOs
Excerpt: "No one has to tell me about lawyers. I went to law school and then decided that one more would just add to the problem. I avoid them so much that I rented out my house without a lease - not a wise move. And that's the problem. Lawyers may be a scourge. But sometimes we need them in this imperfect world, especially when dealing with insurance companies and other large corporations." (Christian Science Monitor)
Opinion: For HMOs, Preventative Medicine Doesn't Pay
Excerpt: "Nearly every aspect of preventive care crashed upon the rocky shore of added costs. Nature turned out to be a tough adversary for the actuaries. It wasn't supposed to be this way." (American Medical News)
HMO Ties Bonuses to Saving Patients Money
Excerpt: "Physicians in large groups contracting with PacifiCare Health Systems might find it pays to help their patients watch their nickels and dimes. Starting next month, the Santa Ana, Calif., health plan will include scores based on how low physicians keep the average out-of-pocket patient costs as part of its incentives to physician groups." (American Medical News)
Welcome to new BenefitsLink advertiser Associated Systems, Inc.
Excerpt: "The 'COMPLETE' Health Benefits Administration Software System for Self-Insured/Self-Administered Employers, TPAs, Associations, HMOs, and other health care professionals. Windows based w/ EDI and auto-adjudication."
Employee Benefits Transactions Using Web Continue to Rise
Press release. Excerpt: "Towers Perrin's fourth annual HR Service Center Survey shows a dramatic jump in the number of companies offering employees online access for annual benefit enrollment, family status changes, employment events, personal and 401(k) changes, as well as 401(k) loan modeling." (Business Wire via Excite News)
IRS's Tax Exempt Advisory Committee Holds First Meeting
The Internal Revenue Service's Tax Exempt/Government Entities (TE/GE) Advisory Committee (TEAC) has held its first meeting. The group, which was established earlier this year, will serve as an organized public forum for the IRS and representatives who deal with employee plans; exempt organizations; tax-exempt bonds; and federal, state, local, and Indian tribal governments. (Spencernet)
Estimated Revenue Effects of Permanent Extension of Federal Tax Provisions Expiring In 2001-2010 (PDF)
Total cost for extending the EGTRRA provisions: $112,549,000, most of it hitting in 2011 when the bulk of the provisions otherwise would expire. (Joint Committee on Taxation)
Newly Posted or Renewed Job Openings (Post Yours!)
| Defined Contribution Plan Administrator | for Matthews, Gold, Kennedy & Snow, Inc. in AZ |
| Benefits Specialist | for Stone Street Capital in MD |
| Administrative Assistant | for PFS in GA |
| Associate Technical Analyst | for First Trust Corporation in CO |
Newly Posted Conferences (Post Yours!)
| Retirement Implication of Demographic and Family Change Symposium | in FL on November 29, 2001 presented by Society of Actuaries |
Newly Posted Press Releases
| Acument Joins with 401kExchange (401kExchange.com) |
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Copyright 2001 BenefitsLink.com, Inc., but you may freely distribute this email newsletter in whole. This newsletter is edited by David Rhett Baker, J.D.
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