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January 21, 2003 - 7,947 subscribers
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Health Information Must Stay Private: HIPAA Privacy Rules Becoming Effective in April
Excerpt: "The clock is officially ticking. If your company has at least 50 employees, and you offer health benefits to them, you're required to comply with HIPAA, the Health Insurance Portability and Accountability Act of 1996. On April 14, 2003, HIPAA's privacy rules regarding Protected Health Information go into effect..." (Workforce.com)
Seventh Circuit Addresses Vesting and Amendment of Disability Benefits
Hackett v. Xerox Corp. Long Term Disability Income Plan (7th Cir. 2003). Excerpt: "[A]n amendment adding discretionary language to an ERISA disability plan may affect a plan participant already receiving benefits. At the time of the participant's initial disability determination, the plan document did not contain discretionary language. But ten years later, when the plan discontinued benefits after determining that the participant was no longer disabled, the document had been amended ..." (EBIA Weekly)
Are You Ready for Paid Family Leave?
Excerpt: "California has passed the nation's first paid family leave law, hailed as family friendly by some and jeered as a 'job killer' and a bureaucratic nightmare by others." (Workforce.com)
Another Hard Lesson in Family Economics
Excerpt: "In the U.S., employment and time-off policies still clash with the changes the studies suggest are needed-- shorter hours in child care, less nonparental care during the first year and higher-quality care overall. Against those tall odds, parents are finding ways to manage child care to limit the risks and make the most of the benefits. Here are the principles they're following." (CareerJournal.com)
Faraway Relatives Turning to Geriatrics Experts
Excerpt: "Nearly seven million Americans are responsible for the care of an older relative or friend who lives, on average, 300 miles away, according to the National Council on the Aging. This phenomenon is fueled by demographic trends ..." (New York Times; one-time registration required)
To Our Valued Employees: Please Go Away for a While
Excerpt: "To cut costs until the economy recovers, companies like Adobe Systems, Charles Schwab, Hewlett-Packard, Nortel Networks, Sun Microsystems and Texas Instruments have turned to 'furloughs' -- a downsizing strategy that uses short-term shutdowns, mandatory vacations, or temporary layoffs instead of firing workers permanently." (Business 2.0)
Where Does Your Health Plan Fit in HIPAA's Privacy Regulation Requirements?
Excerpt: "The following chart attempts to summarize some of the types of group health plans and which of the HIPAA privacy notice and administrative requirements apply to the plan. No one should rely on this as legal advice." (Greta Cowart, Esq. of Haynes and Boone)
HIPAA's Privacy Regulations as Finally Modified and Their Impact on Group Health Plans
Excerpt: "This outline looks at the privacy regulations as modified by the August 14, 2002, final modifications and how they apply to group health plans. This outline also considers the impact of the guidance issued by the Office of Civil Rights of the Department of Health and Human Services on December 4, 2002." (Greta Cowart, Esq. of Haynes and Boone)
Canadian Pharmacies Ease Drug Price Pain for Some
Excerpt: "Hundreds of thousands of Americans fed-up with high prescription costs are ordering medications in bulk from Canada, mostly online and delivered by U.S. mail. The price differences are huge with Canadian pharmacies able to sell some of the same drugs available at American drugstores for as much as 80% less. Government controls on drug prices in Canada make it possible." (The Fresno [Calif.] Bee via International Foundation of Employee Benefit Plans)
Opinion: Reactive Health System Perpetuates Financial Troubles
Excerpt: "From the service provider, insurer and the patient/customer standpoints, this system is designed to deal with effects and not causes.... [C]urrent health strategies address the effects of accidents and illnesses at their most challenging and costly junctures. As a result, the system perpetuates itself and ensures the same circumstances will occur over and over." ([Cincinnati] Business Courier via bizjournals.com; one-time registration required)
Hospital Insurance Association of America Backs Bush on Medical Malpractice Liability Caps
Press release. Excerpt: "Health insurers heartily endorse the President's call today for action on medical liability reform. While we support fair, prompt compensation for those truly damaged by medical malpractice, we believe ending the current lawsuit lottery will improve the availability and affordability of health care in America." (Hospital Insurance Association of America)
A Chat With Milton Friedman on Healthcare Reform
Excerpt: "He insists it is important to stay focused on the big picture but admits that his policy prescriptions may not be politically feasible. He advocates repealing the tax exemption of employer-provided medical care; terminating the existing Medicare and Medicaid programs; deregulating most insurance; and restricting the role of government, preferably state and local rather than federal, to financing care for the hard cases." (Galen Institute)
Opinion: Single-Payer Health Systems Have Been Singularly Unsuccessful
Excerpt: "Advocates of single payer health care want Colorado state government to pass legislation making government the sole provider of health care in the state. It can be done, but the real question is why ... After decades of experience with single payer health care systems we know that it makes health care harder to get, and increases costs." (Independence Institute)
Opinion: Congress Must Do No Harm to Healthcare System
Excerpt: "Congress is back in session, and now the fun begins. Like dealing with problems such as health care.... American health care is a mess. But nationalizing the system will only exacerbate medical problems. And drugs, which often cut costs by eliminating the need for other treatments, are part of the solution." (The National Review)
Opinion: Liberals Should Make Case for Universal Health Care on National Security Grounds
Excerpt: "How can we hold the line and secure the American people from biological attack? Universal health care, that's how.... Because it is so difficult to prevent the release of biowarfare agents-- we still don't know who perpetrated those mail-borne anthrax attacks-- it makes perfect sense that our national strategy should focus on detecting an attack and stopping it from spreading." (The American Prospect)
Links to Items on Executive Comp, Benefits in General
Opinion: Fixing Stock Options to Match Executive Performance
Excerpt: "Conventional wisdom is that a CEO can only benefit from stock options if the market price of his company's shares rises. That's right when it comes to a single stock option. It's different when the CEO receives a new option each year." (Graef Crystal on Bloomberg.com)
The Impact of Stock Option Expensing on Compensation Programs: the CFO's Perspective
Excerpt: "Our survey of over 100 CFOs reveals agreement that stock option expensing is inevitable, but key questions remain unanswered. Hay Group recommends actions to manage the impact on compensation programs." (Hay Group; one-time registration required)
Strategies for Underwater Stock Options, in Chart Form (PDF)
1 page. Strategies listed: do nothing; accelerate future grant; make supplemental stock option grant; cancel/reissue options in 6 months; repurchase/regrant after 6 months; cancel underwater options/immediately regrant at less than 1-for-1 exchange; cancel options and grant restricted stock; full and immediate cancel/reissue; repricing. Accompanies article that's online at http://www.workforce.com/archive/feature/23/38/31/index.php (Workforce.com)
Newly Posted or Renewed Job Openings
Pension Administrators
for Polycomp Administrative Services, Inc.
in CA
Benefits Manager (Service Delivery Manager)
for Towers Perrin
in VA
Pension Consultant
for Fidelity Investments
in MA
Director, Benefits
for The Executive Source is a retained Human Resources search firm.
in NJ, NY
Employee Benefits Client Manager
for Craford Benefit Consultants
in CA
Invesmart
for Retirement Plan Analyst - Implementation
in PA
Vice President - Sr. Communications Business Strategist to Public Sector Market
for CitiStreet
in MA
Pension Plan Specialist - for Mktng/Sales Firm Working with 401(k)'s, P/S, MPP and Prevailing Wage Plans
for Beneco, Inc.
in AZ
Benefits Specialist
for Retail Brand Alliance
in CT
Newly Posted Conferences
(Post Yours!)
SouthWest Benefits Association 28th Annual Conference
in NM
May 7, 2003
SouthWest Benefits Association
SWBA/IRS Plan Administrator Skills Workshop
in TX
February 7, 2003
SouthWest Benefits Association
SWBA/IRS Plan Administrator Skills Workshop
in OK
February 14, 2003
SouthWest Benefits Association
SWBA/IRS Plan Administrator Skills Workshop
in TX
February 21, 2003
SouthWest Benefits Association
Final Required Minimum Distribution Rules eSeminar
in ALL STATES
February 13, 2003
McKay Hochman
First Quarter Update eSeminar
in ALL STATES
February 10, 2003
McKay Hochman
Newly Posted Press Releases
(Post Yours!)
BenefitStreet Announces New TPA Alliances
(BenefitStreet, Inc.)
David Grubman and Kelly Wolfe Receive Annual Peak of the Pyramid Awards
(Pyramid Digital Solutions)
McKay Hochman Offers e-Seminar on Final Minimum Distribution Rules
(McKay Hochman Co., Inc.)
Alexander Hamilton Institute Releases New Free Report - "HR Audit"
(Alexander Hamilton Institute)
Miller/Russell & Associates Adds Mike Malone as Director of Client Development
(Miller/Russell & Associates, Inc.)
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