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January 14, 2003 - 7,947 subscribers
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GE Union Strike May Portend More Difficult Negotiations for Health Insurers
Excerpt: "For three years, employers have accepted double-digit premium increases for workers' health benefits, easing the burden by passing a higher share of costs on to workers. Now, a precipitous decline in employee relations and productivity could do for health benefits negotiations what years of increases did not-- make corporations significantly more hard-nosed at the bargaining table." (Managed Care Week via AISHealth.com)
Big Players Roll Out Consumer-Directed Health Programs
Excerpt: "Though out of the gate long after consumer-directed health care (CDH) vendors such as Definity Health, Lumenos and Vivius, the health insurance industry's biggest players say their size and depth will help them outpace their smaller competitors." (Inside Consumer-Directed Care via AISHealth.com)
GE Says 2-Day Strike Over Health Plan Co-Pays Won't Hurt Bottom Line
Excerpt: "The job action, expected to begin on Tuesday [Jan. 14, 2003], will be the first national strike at GE since 1969. GE's largest union, the International Union of Electronic Workers-Communications Workers of America, will account for about 14,000 of the striking workers. The United Electrical, Radio and Machine Workers of America also are expected to go on strike." (Reuters via FindLaw.com)
AP Coverage: Supreme Court Takes on FMLA Case
Excerpt: "The Supreme Court is to decide whether state workers such as Hibbs can sue agencies for denying them time off to care for ailing family members. The state claims it is constitutionally immune from [former State of Nevada employee Bill] Hibbs' lawsuit under the 11th Amendment, which gives states 'sovereign immunity' from certain lawsuits." (AP via FindLaw.com)
Audio Excerpt: High Court to Consider State Regulation of HMOs
Excerpt: "The Supreme Court will hear a case that challenges a Kentucky law aimed at guaranteeing patients a broader choice of doctors and hospitals. The HMO industry says a 1994 law that requires health plans to open closed networks undercuts its ability to ensure quality and contain costs. NPR's Julie Rovner reports.' (Jan. 14, 2003) (National Public Radio)
New York State Pension Fund Director Unhappy with GlaxoSmithKline Restriction on Canadian Drugs
Excerpt: "New York's state comptroller, Alan Hevesi said yesterday that he'll urge GlaxoSmithKline to reverse its stance on trying to block Canadian pharmacies from selling low-cost drugs to New Yorkers. Hevesi oversees the state's $102 billion employee retirement fund, which holds 5.2 million shares of stock of Glaxo Smith Kline." (The [Westchester County, N.Y.] Journal News)
Payers May Gain Upper Hand on Allergy, Ulcer Drug Costs Thanks to OTC Switches
Excerpt: "High prices and high utilization-spurred by some of the most successful consumer advertising in history-landed the entire class of non-sedating antihistamines (NSAs) on the wrong side of managed care. Frustrated by out-of-control spending in this category, WellPoint Pharmacy Management's Vice President of Pharmacy Rob Seidman waged an unprecedented campaign to gain FDA approval for OTC versions of these drugs ..." (AISHealth.com)
Federal Government Report Looks at the Pharmaceutical Industry (PDF)
53 pages. Excerpt: "This [report] focuses on pharmaceutical manufacturers, including branded pharmaceutical, generic pharmaceutical, and biotechnology companies. Medicare will spend over $7 billion on outpatient drugs this year ... [A] review of the financial performance of the industry is timely." (Centers for Medicare and Medicaid Services)
Links to Items on Executive Comp, Benefits in General
What's Fair Pay for Running the Family Store?
Excerpt: "How much should someone be paid for winning the jackpot of capitalism? Every year, that question confronts the directors of major American companies still run by their founding entrepreneurs or by members of the founding family-- companies like Oracle, Viacom and Microsoft. The way it has been answered shows just how capricious the world of executive compensation can be." (New York Times; free registration required)
President Proposed 10% Increase in Budget for PWBA, to be Renamed EBSA
Press release. Excerpt: "The President's Budget requests a 10% increase for the Employee Benefits Security Administration in the Department of Labor (formerly the Pension and Welfare Benefits Administration). With these additional resources, EBSA expects to restore, protect or recover about $500 million in pension plan assets. This funding will provide additional enforcement to safeguard workers' retirement savings and other benefits in the wake of corporate fraud cases." (The White House)
Newly Posted or Renewed Job Openings
Extraordinary & Fun Defined Benefit Consulting Opportunities in So. Calif.
for Louis Kravitz & Associates, Inc.
in CA
Pension Administrator
for Means & Associates, LLC
in CA
Benefits Outsourcing Program Manager
for Fidelity Investments - Marlborough, Massachusetts
in MA
Compliance Administrator
for BISYS Retirement Services
in PA
Pension Consultant
for Florida Power & Light
in FL
Newly Posted Conferences
(Post Yours!)
Avoiding FLSA Lawsuit Danger Zones: How Employers Can Avoid Penalties & Back Pay Liabilities
in
January 23, 2003
Alexander Hamilton Institute
Mountain States IRS Benefits Conference
in CO
September 11, 2003
ASPA
Business Leadership Conference
in
September 20, 2003
ASPA
Newly Posted Press Releases
(Post Yours!)
Robert Emmons Appointed Inspector General for PBGC
(Pension Benefit Guaranty Corporation)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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