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October 21, 2002 - 7,425 subscribers
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AAHP: Single-Payer System in Oregon Could Increase Costs by 30%
Press release. Excerpt: "A new study by James Langenfeld and Richard Shin of the economic consulting firm LECG reveals that the single payer health care initiative currently under consideration in the state of Oregon (Measure 23) could lead to significantly higher health care costs, increased taxes and decreased health benefits." (American Association of Health Plans)
Small Employer Market Underserved With Voluntary Benefits
Excerpt: "Two recently released studies on employer and employee attitudes toward voluntary benefits indicate that sponsors believed to have the most to gain-- small employers-- often do not offer those benefits." (BenefitNews.com)
American Academy of Actuaries Comments to EEOC on Upcoming Erie Guidance (PDF)
Excerpt: "[Y]ou expressed an interest in learning more about possible issues that might complicate implementation of a safe harbor method [addressing the Erie County court decision].... The following [is a] list of potential issues that could complicate implementation of retiree medical safe harbors ... [in] three categories-- rating and measurement, plan interpretation, and other." (American Academy of Actuaries)
Lifetime Maximums: When Health Insurance Hits the Ceiling
Excerpt: "Many policies ... place a cap on the amount they will pay out over the course of a person's lifetime. More than two-thirds of people in preferred-provider organizations have such lifetime benefit maximums, as do nearly half of people covered by conventional indemnity plans, according to a recent survey of employer health benefits ..." (New York Times; free registration required)
Bush Plans New Rules on Generic Medicine
Excerpt: "President Bush plans [on Monday, Oct. 21, 2002] to propose new rules designed to make it easier for Americans to buy generic medicine by reining in the ability of brand-name pharmaceutical companies to keep lower-price drugs off the market." (Washington Post)
Links to Items on Executive Comp, Benefits in General
Transcript of Online Chat: Legislative Changes to Non-Qualified Executive Benefit Plans
Excerpt: "In today's discussion we are going to discuss an update on the legislation pending and what alternatives are being contemplated by many companies.... There are two major bills that would impact deferred compensation. One being ways and means committee chairman Bill Thomas (R -Ca) originally proposed HR5095 and the second is a bill by Bingham that would impact the corporate owned life insurance funding of these plans ..." (Clark Bardes Consulting; free registration required)
Insider Loans: Everyone Was Doing It
Excerpt: "Roughly three-quarters of the nation's top 1,500 companies -- 1,133, to be precise -- have disclosed loans to insiders in recent regulatory filings, according to a study due to be published in November by the Corporate Library ... The problem, critics of the practice say, is that when stocks crashed, companies in scores of cases quietly let executives off the hook by forgiving the loans, even as other shareholders were battered." (Business 2.0)
Newly Posted or Renewed Job Openings -
Marketing Consultant (Conversion & Case Management)
for WESPAC Plan Services, Inc.
in CA
Implementation Specialist - New Business
for Pan-American Life Insurance Company
in LA
Customer Service Representative (CSR) - RIS/Pension Administration
for Pan-American Life Insurance Company
in LA
Account Management / Client Service Specialist
for ExpertPlan, Inc.
in NJ
Jr. Plan Services Coordinator - Plan Services
for Pan-American Life Insurance Company
in LA
401K Client Services Administrator
for Citizens Bank
in RI
Pension Administrator
for Pension Professionals
in AZ
Newly Posted Press Releases
Labor Department Issues Rules On Disclosure of Pension Plan Blackout Periods
(U.S. Department of Labor, Pension and Welfare Benefits Administration)
Successful Subsidiary Separating from Largest Locally Owned Accounting Firm
(Retirement Management Services, LLC)
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