| The BenefitsLink Newsletter - Welfare Plans Edition |  |
October 11, 2001 - 6,365 subscribers
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Genetic Testing from the Actuarial Perspective: What You Need to Know
Excerpt: "About 110 people attended the Academy's timely Capitol Hill briefing on genetic testing issues Aug. 29.' Includes slides from the presentation. (American Academy of Actuaries)
High Court Paves Way for HMO Damage Suits
Excerpt: "The U.S. Supreme Court cleared the way Tuesday for Californians who receive Medicare to sue their HMOs if they are wrongly denied a needed medical treatment. The justices refused to hear the health insurance industry's claim that the federal Medicare Act bars suits for damages in state courts." (Los Angeles Times)
Are Insurers Prepared for the Mental Health Fallout from Sept. 11?
Excerpt: "Health insurers are already noticing an increase in the number of requests they normally receive for mental health services, particularly in New York and New Jersey ... In response, companies like Magellan have made their employee assistance counseling and 'critical incident' stress management programs available to help its employees and their families deal with the terrorist attacks." (insure.com)
Oklahoma City Employers are Case Studies in Employees' Reactions to Tragedy
Excerpt: "[A]s people try to return to business as usual, what else might lie ahead? While history holds no true precedents, helpful insights can be found in the experience of Oklahoma City employers after the 1995 terrorist bombing of the federal building there. Many of the 14 employers I interviewed saw ripple effects lasting several months to a year or more, including increases in turnover, impulsive behavior, and leave-taking and absenteeism from work." (CareerJournal.com)
Hewitt Associates Shares Top Ten Tips for Benefits Enrollment Season
Press release. Excerpt: "The U.S. benefits enrollment season is here, and employees should pay close attention when making important decisions that can affect their health, retirement and loved ones. While enrollment can sometimes be a confusing and overwhelming time, there are some guidelines and tools that can assist employees in their decision-making process." (Business Wire via Yahoo! News)
Increased Use of Generic Drugs Will Not Reduce U.S. Drug Costs, Study Finds
Excerpt: "Generic drugs are not a 'magic pill' for reducing the country's drug bill, due largely to patent protections that restrict access to the drugs and a 'lack of knowledge on the part of employers, insurers and providers,' a recent study conducted by the University of Michigan College of Pharmacy has found ..." (KaiserNetwork.org)
Americans' Satisfaction With Health Care Rises
Excerpt: "Despite conventional wisdom and the managed care backlash, Americans appear to be increasingly satisfied with the health care they are receiving, the costs they are paying for health care, and managed care plans, according to the 2001 Health Confidence Survey (HCS) released [October 9, 2001]." (Boston Globe)
Study's Results: Lack of Health Insurance Harms People Later in Life
Excerpt: "Lack of health insurance is unhealthy for Americans between the ages of 51 and 61, according to a study to be released in Thursday's New England Journal of Medicine. Dr. David W. Baker of the MetroHealth Medical Center in Cleveland, Ohio, and his colleagues used survey data gathered between 1992 to 1996 from 7,577 people in what they termed 'late middle age.' They were trying to find out if people's health insurance status affected their well being." (Reuters Health via Excite News)
Prescription Drug Plan for Seniors Faces Uncertain Future
Excerpt: "[A] debate over Medicare suddenly seems like a luxury. 'The discussion about adding a prescription drug benefit to Medicare will be put on hold,' said Mark Pauly, Wharton professor of health care systems. 'The ability to pay for that was questionable before Sept. 11. Now it is even more so.'" (The Wharton School of the University of Pennsylvania)
Designing Total Reward Programs for Tight Labor Markets (PDF)
Working Paper. Excerpt: "Some people believe that the recent economic slowdown, starting in 2000, may dampen employers' efforts to find creative new ways of recruiting staff. The reality is, that despite news of layoffs, unemployment rates in the US remain low by historical standards. Even with the collapse of many dot com firms, there are still technology jobs going unfilled." (Pension Research Council)
How Demographic Change Will Drive Benefit Design (PDF)
Working Paper. Excerpt: "This chapter examines how the aging of the labor force and its changing composition will influence the future demand for employer-sponsored benefits. We investigate the age, sex, racial, and ethnic patterns of demand for employer-sponsored 401(k) plans, health and disability insurance, and family-oriented benefits, and evaluate their implications for the desired mix of benefits in the future." (Pension Research Council)
Strategies for Managing Improper Payments: Learning from Public and Private Organizations
70 pages; GAO-02-69G, October 2001. Of possible interest to installment payors of pensions or other employee benefits. (U.S. General Accounting Office)
Benefits and Productivity (PDF)
Working Paper. Excerpt: "This chapter discusses how two of the most prominent employer-provided benefits – pensions and health insurance plans – influence productivity. In particular we investigate how pension plan design and the availability of employee or retiree health insurance influence workforce selection, retention, retirement behavior, and worker effort." (Pension Research Council)
The Benefits Implication of Recent Trends in Flexible Staffing Arrangements (PDF)
Working Paper. Excerpt: "The growth in various flexible staffing arrangements raises concerns about whether workers in temporary and contract arrangements are adequately covered by key benefits and regulations governing them. It also raises concerns that employers' desire to control benefits costs has stimulated some of the growth in these arrangements." (Pension Research Council)
De-linking Benefits from a Single Employer: Alternative Multiemployer Models (PDF)
Working Paper. Excerpt: "[T]here have been very few studies on alternative modes of benefit provision in the U.S., including voluntarily-provided employee benefit plans that span employers. In this chapter we explore multiemployer pension plans in the United States, examining what they do and how they function." (Pension Research Council)
Benefits for the Free Agent Workforce (PDF)
Working Paper. Excerpt: "The free agent workforce is estimated to comprise one-quarter to one-third of the American workforce. Typical definitions of the free agent workforce encompass a variety of workstyles including temporary employees, independent contractors, self-employed, small family businesses, and solo professionals.... Given the size and rapid growth in this segment of the workforce, government groups have started to focus on policy implications of the free agent workforce." (Pension Research Council)
A Look at Global Benefits Administration (PDF)
Working Paper. Excerpt: "The term 'benefits administration' covers a wide variety of benefit-related functions in the modern corporation. These include payroll processing, pension administration, health insurance administration, human resource information systems (HRIS), and many others. In this chapter we consider global developments in the benefits administration function." (Pension Research Council)
U.s. Eyes Stock Options In Airline Bailout
Excerpt: " The government has a fairly simple response to taxpayers who are skeptical about the federal bailout of the airline industry and wonder what's in it for them: the potential for stock options. A provision in the airline bailout bill says the federal government will give preference in awarding up to $10 billion in loan guarantees to airlines 'that will allow the federal government to participate in the gains of the company.'" (Chicago Tribune)
Is the Use of Options Spinning Out of Control?
Excerpt: "This all started innocently enough. In the 1990s, companies increasingly began using options as a cheap form of pay. As many as 10 million employees now hold stock options, up from one million in 1991, the National Center for Employee Ownership says." (CareerJournal.com)
Spencer Releases 2001 Benefits Managers' Survey
The average salary for benefits managers in 2001 was $80,240,a 3.8% increase over the last two years,according to the biennial employee benefits managers ' survey conducted by Charles D.Spencer & Associates, Inc. Most noticeable in the recent survey is the rapid increase in use of the Internet, with more than three of five companies using the Internet or an intranet for one or more benefits functions. (Spencernet)
Newly Posted or Renewed Job Openings (Post Yours!)
| Sales Consultants | for Administaff in CA |
| VP Retirement Plans Product Manager | for The Howard Group Ltd in NY |
Newly Posted Press Releases
| Rapid Response to World Trade Center Disaster Marks First Test of New Assist America Operations Center; Recent Events Highlight Need for Global Emergency Assistance (Assist America, Inc.) |
| RMD Software Now Available (ImagiSOFT, Inc.) |
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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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