| The BenefitsLink Newsletter - Welfare Plans Edition |  |
October 5, 2001 - 6,365 subscribers
Today's sponsor: Glasser LegalWorks
(Click on company name or banner to learn more.)
This timely "how to" program focuses on how to run an effective, efficient employee benefits plan while minimizing litigation exposure. Whether you are an ERISA fiduciary, investment advisor, or the in-house counsel, it is not too late to sign up to learn the latest practices and techniques. Register now!
(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)
North Carolina Senate Approves Compromise Patients' Rights Legislation
Excerpt: "The state Senate approved a compromise plan Thursday that would allow patients to sue insurers who deny necessary medical coverage." (Associated Press via MSNBC.com)
Managers Struggle to Aid Traumatized Employees
Excerpt: "Similar group counseling sessions are taking place across America as countless companies attempt to help heal employees traumatized by the Sept. 11 terrorist attacks. The most popular technique, known as 'critical incident stress debriefing,' encourages people to describe what they experienced as close to the event as possible and provides coping advice." (CareerJournal.com)
CMS Updates Civil Money Penalties For Medicare Compliance Failures
The Centers for Medicare and Medicaid Services (CMS) has published final regulations that update its authority to impose civil money penalties for various medical provider failures related to Medicare payment. The regulations, which were published in the September 28 Federal Register, also make technical changes to conform current CMS rules to statutory changes enacted by the Balanced Budget Act of 1997. (Spencernet)
Number Without Health Insurance Fell In 2000, Census Bureau Finds
The number of people without health insurance dropped by 551,000 to approximately 38.7 million between 1999 and 2000, according to a recent report by the U.S. Census Bureau. The proportion of the population without health insurance dropped from 14.3% in 1999 to 14% in 2000. The report records a significant decline in the number of uninsured among the estimated 72.5 million children under age 18 in the U.S., from 12.6% in 1999 to 11.6% in 2000. (Spencernet)
Another Question is Answered in the Stock Options, Restricted Stock and Other Long-Term Employment Incentives Q&A Column
To pursue a collar strategy, can I write covered calls on restricted stock? (BenefitsLink.com)
Stock Option Strategies and Pitfalls Du Jour
October 2001 issue. Excerpt: "Companies choosing the repricing strategy must act carefully because of FASB Interpretation no. 44, Accounting for Certain Transactions Involving Stock Compensation (interpretation to APB Opinion no. 25, Accounting for Stock Issued to Employees) adopted in July 2000. The new accounting rule discourages companies from making a quick leap to reprice stock options in response to a market downturn. Repricing becomes much more painful." (Journal of Accountancy)
Minimize Parachute Penalties
October 2001 issue. Excerpt: "Companies should not enter into golden parachute plans without careful consideration. CPAs called in to help draft these agreements can, through prudent planning, save their employers and clients significant sums." (Journal of Accountancy)
Any Legal Requirements for Confidentiality of Benefit Payments?
Join this interesting discussion taking place on the BenefitsLink Message Boards. No cost to view or join in the online discussion. Click on the 'Post Reply' button to add your own message. (BenefitsLink Message Boards)
Transamerica Retirement Services Announces Specialized New Product for PEOs
Press release. Excerpt: "Professional Employer Organizations -- which hire a company's workforce and then 'lease it back' to the company, assuming all of the client company's human resources responsibilities and employment risks in the process -- offer many administrative, legal and logistical advantages to smaller businesses. But until now, PEOs have found it difficult to meet the retirement plan benefit needs of their small business clients." (Business Wire via Yahoo! News)
Sunk by Stock Options
October 2001 issue. Excerpt: "Unfortunately, many rank-and-file workers--and more than a few top executives--are blissfully ignorant of the perils of stock option ownership. A study by Oppenheimer Funds of option holders indicated 37% knew very little about the tax implications, investment and market risks." (Journal of Accountancy)
Newly Posted or Renewed Job Openings (Post Yours!)
| Pension Plan Administrator | for Palmer Pension Services, Inc. in GA |
| Reinsurance Manager | for Corporate Benefit Services of America, Inc. in MN |
| Assistant General Counsel | for Xcel Energy in MN |
| Pension Analyst | for Compensation Consultants, Inc. in WA |
| Senior Executive Benefit Regional Manager | for National Executive Benefit and Consulting Firm in TX |
Subscribe to the Retirement Plans Edition, too (click)
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.
- How to Sponsor an Issue: reach 6,365 benefits professionals!
- How to Subscribe
- Privacy Policy
- Archive of Prior Issues