| The BenefitsLink Newsletter - Welfare Plans Edition |  |
September 25, 2001 - 6,325 subscribers
Today's sponsor: EBIA's HIPAA & Other Federal Mandates for Group Health Plans
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(Help BenefitsLink to provide this newsletter at no charge to you -- our sponsors pay our way. Remember to visit them periodically; we try to make sure their products and services will be of interest to you. Thanks! --Editor)
IFEBP Introduces Certified COBRA Administrator Designation, Online Training
Excerpt: "Through an affiliation with COBRAhelp.com, the International Foundation is pleased to announce the availability of the new online COBRA Training and Certification Program. Developed by COBRAhelp.com, the publisher of COBRA Quarterly, this program provides comprehensive information on proper procedures and design options." (International Foundation of Employee Benefit Plans)
Severance Plan Protecting Against Corporate Change in Control Is ERISA Plan
Bowles v. Quantum Chemical Co. (7th Cir. 2001). Excerpt: "The Seventh Circuit noted that determining whether a severance plan is covered by ERISA 'is a matter of degree, the assessment of which often requires the court to draw fine lines.' Employers not wishing to wait for a court's minute factual analysis of their severance plans may decide to assume that ERISA applies and comply with ERISA's requirements (including the requirement of a written plan document)." (EBIA Weekly)
Mental Health Parity About To Expire
In light of the tragic events in New York and Washington, D.C., Congress may not get around to addressing the issue of mental health parity before Sept. 30, 2001, the date the Mental Health Parity Act of 1996 is slated to expire. Many in the behavioral health care industry believe, however, that mental health parity's demise will not be permanent. (Spencernet)
$5 Billion In Life Insurance Losses Not Expected To Exceed 3% of Industry's Capital and Surplus
Life insurance claims alone could run as high as $5 billion in connection with the September 11 terrorist attacks, according to Quotesmith.com. On September 21, the company released the results of an extensive term life insurance rate comparison study, which examined the rates now being charged by more than 90 leading U.S. life insurance companies. (Spencernet)
Legal and Funding Issues Entangle Long-Term Care
Excerpt: "The country's system of providing long-term healthcare for the elderly will be in flux until the government figures out how to prepare for the retirement of the huge baby boomer population, experts warned lawmakers on Monday." (Reuters Health via Yahoo! News)
Florida HMO Grievance System Gets Mixed Reviews
Excerpt: "Florida does not allow patients to sue health maintenance organizations for adverse medical outcomes. Instead, state law requires them to file a grievance with the company. Then, if the complaint remains unresolved, they are allowed to file a grievance with the seven-member Statewide Provider and Subscriber Assistance Program. In some instances, the grievances are first handled by a local managed care ombudsman committee." (The Business Journal of Jacksonville [Fla.])
Opinion: Some Jokes About HMOs
Excerpt: "Q. What does HMO stand for? A. This is actually a variation of the phrase, 'Hey, Moe!' Its roots go back to a concept pioneered by Doctor Moe Howard, who discovered that a patient could be made to forget about the pain in his foot if he was poked hard enough in the eyes." (Health Administration Responsibility Project)
Work-Balance Seen as Key for Generation Y
Excerpt: "Remember Generation X ... ? Now they're being replaced by Generation Y, the 29 million Americans born between 1978 and 1984. And when it comes to balancing work and life, particularly after the recent terrorist attacks, what a difference a generation--and a national emergency-- make." (Chicago Tribune)
Another Question is Answered in the Stock Options, Restricted Stock and Other Long-Term Employment Incentives Q&A Column
If an individual is given restricted stock a short time before vesting, can the restricted stock be deferred? If so, how much (what percent)? Assume no section 83(b) election has been made. (BenefitsLink.com)
Thoughts for Compensation Planners for Year-End 2001 (PDF)
Excerpt: "What do we tell compensation planners about bonus trends for 2001? If they ask us what others are planning to do, we answer that most companies have not yet decided and are asking the same questions. We tell them that new proxy statements of several companies whose fiscal years have already ended have revealed lower or no bonuses for top officers, and there have been published reports that several other companies have announced their intent not to pay bonuses for 2001." (Frederic W. Cook & Co., Inc.)
Compensation Consulting Firm Comments on CalPERS' Disclosure of Proxy Voting on Comp Matters (PDF)
Excerpt: "We found this insight into the voting of a major institutional investor to be both interesting and helpful. CalPERS is one of the few institutions to publish its proxy voting guidelines on executive compensation plans, but the guidelines are very general. Knowing when they voted against specific company proposals allows us to understand their positions better." (Frederic W. Cook & Co., Inc.)
Newly Posted or Renewed Job Openings (Post Yours!)
| Defined Benefit Senior Consultant | for Unifi Network LLC, a subsidiary of PricewaterhouseCoopers in IL, NJ |
| Global Compensation Manager | for Towers Perrin in CT |
| Actuarial Analyst, Defined Benefit Plans | for Cowden & Associates in PA |
| 401(k) Administrator | for E.A. Edberg Associates, Inc. in AZ |
Newly Posted Conferences (Post Yours!)
| SunGard Corbel Client Conference | in FL on June 10, 2002 presented by SunGard Corbel |
Newly Posted Press Releases
| PRIMEWIRE PARTNERS WITH ACS TO PROVIDE STATE OF GEORGIA WITH ITS INTERNET-BASED HEALTH PLAN ADMINISTRATION APPLICATION (PrimeWire) |
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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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