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The BenefitsLink Newsletter -
Welfare Plans Edition
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July 25, 2002 - 6,490 subscribers
Today's sponsor: Benefit Software Inc.

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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)

Democrats Defeat Second GOP Medicare Drug Plan
Excerpt: "A day after the Senate rejected Democratic and Republican plans to help Medicare recipients pay for prescription drugs, Democrats yesterday scuttled a second GOP proposal. But they also signaled they were ready to make major concessions to get a compromise." (Washington Post)

Advocacy Group Says Private Litigation, Not Government Rules, Should Protect Medical Privacy
Excerpt: "The report, 'The Privacy Torts: How U.S. State Law Quietly Leads the Way in Privacy Protection,' argues that state tort law provides 'explicit baseline protections' for consumer information while 'allow[ing] beneficial uses of information to go forward.' Federal regulators are largely unaware these protections exist, the report states, so they create extensive regulations such as HIPAA and Gramm-Leach-Bliley ..." (iHealthBeat.com; free registration required)

Welcome to new BenefitsLink advertiser Evolution Benefits
Excerpt: "Using new stored-value-card technology, the Benny(tm) Card was created using a MasterCard® logo and has been applied first to flexible spending accounts (FSAs), making it easier for employees to access the pre-tax dollars they've set aside. The Benny(tm) Card offers enhanced convenience and savings (in time, money and paperwork), while paving the way toward new levels of individual responsibility as defined contribution plans become more and more popular in the workplace."

Welcome to new BenefitsLink advertiser DataPath 132
Excerpt: "132 Administration System (DPI-132) is a Windows-based 132 administration system developed by DataPath, Inc. to administer § 132(f) Tax-Free Transportation Plans handling qualified parking expenses, transit passes, and vanpooling expenses, and integrates with other systems in Datapath's employee Benefit Software Suite. For more information, go to www.dpath.com or email sales@dpath.com."

Welcome to new BenefitsLink advertiser DataPath 125
Excerpt: "125 Administration Package is a full-service Windows-based solution developed by DataPath, Inc. for administrating § 125 Cafeteria Plans, and integrates with other systems in Datapath's employee Benefit Software Suite. The package is designed for multi-company/multi-user administration, with unlimited capacity for plan service providers. For more information, go to www.dpath.com or email sales@dpath.com."

Welcome to new BenefitsLink advertiser DataPath 105
Excerpt: "105 Administration Systems (MERP-105, Max105, and Flex-105) are Windows-based 105 administration systems developed by DataPath, Inc. MERP-105 and Flex-105 integrate with other systems in Datapath's employee Benefit Software Suite. These systems take the Defined Contribution approach to health benefits often discussed in today's employee benefit world. For more information, go to www.dpath.com or email sales@dpath.com."

Welcome to new BenefitsLink advertiser DataPath COBRA
Excerpt: "1-2-3 COBRA Administration System (DPI-COBRA) is a Windows-based COBRA administration system developed by DataPath, Inc. and integrates with other systems in Datapath's employee Benefit Software Suite. For more information, go to www.dpath.com or email sales@dpath.com."

Links to Items on Executive Comp, Benefits in General
(These items appear in both editions of the BenefitsLink Newsletter)

Congress Takes Aim at Deferred Compensation: Legislative Overview (PDF)
2 pages. Excerpt: "Concern in Washington about executive pay has led to the introduction of legislation in both the House and Senate targeting various types of executive compensation, including stock options, nonqualified deferred compensation and executive loans. This Alert looks at the proposals that have been made with respect to nonqualified deferred compensation arrangements, which could lead to a significant tightening of rules in this area." (Miller & Chevalier Chartered)

Why Stock Option Reform Is Good News for High-Tech Workers
Excerpt: "Faced with the prospects of treating options as an expense firms ought to be more inclined to consider real incentives for key employees - namely, equity in the company." (Silicon.com)

How to Measure the Cost of Stock Options?
Excerpt: "What are the best alternatives for measuring the cost of employee stock options? A FORTUNE cheat sheet." (Fortune.com)

One More Reason to Expense Stock Options: Make Your Rivals Look Bad
Excerpt: "Coke has managed to turn up the heat on its main rival PepsiCo Inc., opening a new front in the decades-old cola wars. Coke has estimated that by expensing its stock option plan, it will reduce its earnings by about [one cent] per share, but Pepsi's stock option plan is far more extensive and a similar policy would undoubtedly have a much greater impact on its bottom line." (National Post)

Expensing Stock Options Would Slash Profit of S&P 500 Companies, Study Says
Excerpt: "The accounting and taxation study shows that diluted earnings per share for Standard & Poor's 500 companies would have been about 20 percent lower if companies had to subtract the value of stock options from their bottom lines." (Dow Jones via StarTribune.com)

Welcome to new BenefitsLink advertiser SMART PlanTrax Timesaver Module
Excerpt: "Developed by Intac Actuarial Services - PlanTrax runs on Windows. This fully customizable, integrated practice management timesaver module enables administrators to gain total control of any plan on any day. More info and FREE downloadable demo are available"

Newly Posted or Renewed Job Openings - Post a Help Wanted Ad
Sr. Financial Services Support Rep. for Nationwide Insurance
in OH

Newly Posted Press Releases
State and Local Government Employees Contributed Approximately $3.5 Billion to Section 457 Deferred Compensation Plans in 2001, According to the NAGDCA 2001 Survey of 457 Plans (National Association of Government Defined Contribution Administrators, Inc.)
Sentinel Benefits Tags David Noymer as COO/CFO (Sentinel Benefits)

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Editor and Publisher: David Rhett Baker, J.D.