April 7, 2003 - 8,085 subscribers Today's sponsor: HiddenPaycheck.com (Click on company name or banner to learn more.) HiddenPaycheck.com creates hardcopy and online custom benefit statements HiddenPaycheck.com is the easiest way to create Benefit Statements. No programming or software purchase is required, resulting in a process without strict data format requirements. Our programmer's work with the electronic data sent from the HR/IS departments. The online version provides online on-demand statements available 24/7, resulting in an effective employee retention tool. Request a quote online or call toll free 888-808-1664. Brokers are encouraged to join our Partnership program. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) Health System Warily Prepares for HIPAA Privacy Rules, Becoming Effective April 14 Excerpt: "New federal rules to protect the privacy of medical records take effect on April 14 and the changes have touched off a quiet revolution in the health care industry. Doctors, hospitals, drugstores and other health care providers must limit the disclosure of information about patients." (New York Times; one-time registration required) Can Our Cafeteria Plan Reimburse Claims for Drugs Imported from Canada for Use by U.S. Participants? Excerpt: "ANSWER: Probably not, in light of recent guidance issued by the U.S. Food and Drug Administration (FDA), which discusses the application of the Federal Food, Drug and Cosmetic Act ('the Food and Drug Act') to the importation of prescription drugs from Canada." (EBIA Weekly (Question of the Week)) New York State Legislators Call for Federal Help for Bethlehem Steel Retirees Excerpt: "The cancellation of Bethlehem Steel Corp.'s health benefits for nearly 100,000 retirees is prompting calls to expand public health care funding to fill the gap." (The Buffalo News via NewsAlert.com) Coke Urged To Drop Gay-Friendly Employee Policies Shareholder resolution to be voted on at the company's April 16 annual meeting in Houston 'recommend[s] the shareholders request the Board of Directors to amend the company's corporate, diversity and equal employment policies to exclude reference to sexual orientation, and cease support of homosexual lifestyle and other deviant lifestyle behaviors opposed by the majority of people.' (Houston Voice) No Guidance on Horizon for Meals and Expense Reimbursement Plans Excerpt: "For the year 2003, a sponsor of certain fringe benefit plans cannot look to the Internal Revenue Service (IRS) for an official stamp of approval that its plan meets various complex rules required for tax-favored treatment. The IRS will not issue private letter rulings (PLRs) and determination letters for expense allowance plans as well as meals and lodging reimbursement plans, according to Revenue Procedure (Rev. Proc.) 2003-3." (Thompson Publishing Company) Bolstering the Case for Group Legal Benefits Excerpt: "Last year, a study by the American Bar Association found that seven out of 10 U.S. families encountered a situation that might have led them to hire a lawyer. However, many reportedly were reluctant to seek out legal services due to questions over attorney effectiveness and cost concerns." (BenefitNews.com) How One Small Businessman Decided to Share Healthcare Cost Increases with Workers Excerpt: "Goldmeier is not happy about the situation, but he feels he has no choice given how insurance costs are skyrocketing, with no end in sight. 'It's really a crisis. The system is grinding to a halt,' he says. 'For a small business, it's a nightmare.'" (Chicago Tribune; one-time registration required) Florida Senate Committee Approves Insurance Regulation Bill Excerpt: "The Florida Senate Banking and Insurance Committee last week approved legislation (SB 1676) that would make it a felony to operate an unlicensed health insurance company and would allow victims of such fraud to file civil lawsuits against the carriers, the Orlando Sentinel reports ..." (KaiserNetwork.org) Links to Items on Executive Comp, Benefits in General HP Shareholders Vote to Limit Golden Parachutes Excerpt: "Hewlett-Packard shareholders narrowly approved a proposal that would limit the board's ability to grant generous golden parachute packages to top executives, the company said Friday. The nonbinding recommendation would require the HP board to obtain shareholder approval for any proposed severance package that is more than 2.99 times a departing executive's salary plus bonuses." (SFGate.com) Is That Your CEO Cashing Out? Excerpt: "Even though stock now constitutes the crux of executive pay-- as it has for more than a decade-- the sale of shares does not appear in companies' annual listing of executive pay." (New York Times; one-time registration required) Money Still Follows the Pinstripes Excerpt: "Shareholders hoping for a revolution that would spell the end of the imperial chief executive will have to wait until next year at the soonest, according to some investors and compensation consultants.... [O]ptions accounted for most of the pay, and the true value of those options will not be known for years. If stocks surge again, the generous options grants of 2002 may lead to the kind of individual windfalls that characterized the late 1990's and spurred calls for reform ..." (New York Times; one-time registration required) United Chief Takes Pay Cut But Retains Other Compensation Excerpt: "United Airlines said [April 4] that Glenn F. Tilton, its chief executive, would take a 14 percent cut in his base salary this year, though Mr. Tilton's much more significant stock and cash bonuses and other compensation, worth millions, will remain intact." (New York Times; one-time registration required) Executive Perks Still Flow, But With Less Fizz Excerpt: "[C]ertain lifestyle perks, like memberships at elite golf and health clubs and payments for second homes, appear to be less common, though they have not disappeared, according to recent regulatory filings and compensation experts." (New York Times; one-time registration required) USERRA: Employment and Retirement Rights and Obligations Excerpt: "Employers only have obligations towards applicable veterans who terminated employment and seek reemployment in accordance with the provisions of the Uniform Services Employment and Reemployment Rights Act (USERRA). Even then, employers are not required to rehire those veterans, but only to do so when it would be reasonable." (Lowell J. Walters, Esq. of GrayHarris) Unions Taking on Issue of Stock Option Expensing Excerpt: "The labor unions leading the shareholder attack on corporate stock-option policies this spring could be reshaping shareholder activism for years to come. The unions are taking aim at stock options because they contend lavish executive option plans contributed to corporate scandals, forcing union pension plans to swallow staggering investment losses." (The [San Jose, Calif.] Mercury News) Welcome to new BenefitsLink advertiser the Paragon Consulting Group, Inc. Excerpt: "The Paragon Consulting Group is a 'boutique consulting' firm serving the benefits community since 1994. We provide nationwide resource solutions that encompass the entire spectrum of benefits administration and management. Our Professional staff offers short or long-term project assistance during peak work periods, staff shortages or when there is a need for specialized skill sets. We operate like a virtual SWAT team, with consultants all over the U.S. ." Newly Posted or Renewed Job Openings 401(k) Administrator for Administrative Retirement Services, Inc. in IL Actuary for Benetech, Inc. in CA Pension Analyst for Pension Resource Group, Inc. in GA Web Strategist for Transamerica in CA Pension Plan Administrator for Manager Of Managers, Inc. - Encino, California in CA Newly Posted Webcasts (Post Yours!) Purchasing Health Care Services in a Competitive Environment on April 3, 2003 presented by U.S. Senate, Committee on Finance Newly Posted Conferences (Post Yours!) HIPAA and Other Health Laws: Compliance Assistance Seminar by the U.S. Department of Labor in TN April 10, 2003 U.S. Department of Labor, Employee Benefits Security Administration HIPAA and Other Health Laws: Compliance Assistance Seminar by the U.S. Department of Labor in MT May 8, 2003 U.S. Department of Labor, Employee Benefits Security Administration HIPAA and Other Health Laws: Compliance Assistance Seminar by the U.S. Department of Labor in IN June 12, 2003 U.S. Department of Labor, Employee Benefits Security Administration HIPAA and Other Health Laws: Compliance Assistance Seminar by the U.S. Department of Labor in UT July 17, 2003 U.S. Department of Labor, Employee Benefits Security Administration HIPAA and Other Health Laws: Compliance Assistance Seminar by the U.S. Department of Labor in PA September 8, 2003 U.S. Department of Labor, Employee Benefits Security Administration HIPAA and Other Health Laws: Compliance Assistance Seminar by the U.S. Department of Labor in TX September 18, 2003 U.S. Department of Labor, Employee Benefits Security Administration Educational Workshop in FL April 24, 2003 Florida West Coast Employee Benefits Council Newly Posted Press Releases (Post Yours!) SYNHRGY Healthcare Estimator Saves Employees (Synhrgy HR Technologies) HIPAA and Other Health Laws: Compliance Assistance Seminar from the U.S. Department of Labor (U.S. Department of Labor, Employee Benefits Security Administration) Handy Links:
Copyright 2003 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission. Published by: BenefitsLink.com, Inc. https://benefitslink.com/about.html 1298 Minnesota Avenue, Suite H Winter Park FL 32789 (407) 644-4146 Fax: (407) 644-2151 Editor and Publisher: David Rhett Baker, J.D. Housekeeping: |