April 17, 2003 - 8,101 subscribers Today's sponsor: WorldatWork (Click on company name or banner to learn more.) Our Bookstore now carries books published by WorldatWork! WorldatWork, the professional association for compensation, benefits and total rewards professionals, now has more than 30 select publications appearing for sale in the BenefitsLink.com bookstore! (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) Text of HHS Interim Final Rules: Enforcement of HIPAA Civil Penalties Excerpt: "This interim final rule establishes rules of procedure for the imposition, by the Secretary of Health and Human Services, of civil money penalties on entities that violate standards adopted by the Secretary under the Administrative Simplification provisions of the Health Insurance Portability and Accountability Act of 1996 ('HIPAA')." (U.S. Department of Health and Human Services) Analysis: HHS Issues First HIPAA Enforcement Rule, But Most Significant Issues Not Yet Addressed (PDF) 2 pages. Excerpt: "The regulation, an interim final rule, becomes effective May 19, 2003, and expires in 16 months.... While the guidance is certainly welcome, and useful as far as it goes, it does not address the significant issues of how violations of the HIPAA Administrative Simplification Rules will be determined or how the penalties will be calculated. Here are some Q&As to help employers get started: ..." (Miller & Chevalier, Chartered) A Three-Pronged Approach to Managing Healthcare Costs (PDF) Excerpt: "The annual rates of claim cost increases known as health plan cost trends are rising so fast that they are threatening to overwhelm the financial resources of public sector entities-- resources that could otherwise be used for different aspects of total compensation, such as regular pay rises.... Successful health care cost management now depends on a combination of ... three broad categories: Vendor management, Plan management, and Individual health management." (The Segal Company's Public Sector Letter) Drug Import Concerns Sway Public Opinion in Survey Excerpt: "Two-thirds of Americans in a national survey said they favored the practice of purchasing prescription drugs from Canada, but attitudes shifted dramatically after they received information about concerns associated with importing medications, according to polling data." (Reuters Health via Medscape; one-time registration required) Providers, HMOs Could Benefit From Supreme Court's AWP Ruling Excerpt: "The decision cuts to the core of HMO leverage in selecting providers on the basis of assessments of cost, quality, and access to care. The basic algorithm that drives provider cost concessions is the promise of increased volume driven by exclusion of competitors from provider networks. Without this possibility of increased volume, the incentive to provide price concessions is virtually eliminated." (AISHealth.com) PBMs Catch a Break From the Feds: GAO Report Favorable Excerpt: "The GAO was asked to examine how PBMs participating in the Federal Employees Health Benefits Program (FEHBP) affect health plans, enrollees and pharmacies. Approximately 8.3 million people are covered by FEHBP health plans, and the GAO examined three health plans that cover 55% of that population." (Drug Cost Management Report via AISHealth.com) Links to Items on Executive Comp, Benefits in General Post Retirement Needs and Risks Excerpt: "Welcome to the Post Retirement Needs and Risks Web Page. This page provides information useful to actuaries and other professionals with an interest in modeling and conducting research regarding individual financial risks and needs after retirement. The Retirement Systems Research Committee and Professional Education and Development Committee [of the Society of Actuaries] sponsor the page." (Society of Actuaries) 'Protected Pension' for Execs of American Airlines Excerpt: "A special trust set up by American Airlines' top executives will allow them to collect retirement benefits regardless of whether the airline goes bankrupt, according to documents filed by the company." (CNBC via MSNBC.com) Newly Posted or Renewed Job Openings Defined Benefit/Defined Contribution Account Manager for National Retirement Services, Inc. in NC Pension Administration Assistant for Corporate Plans & Services, Inc. in NC Chief Operating Officer for Qualified Plan Administration Company for The Senex Group in Woodland Hills, California in CA Plan Administrators/Conversion/Implementation Specialists for Arwood & Associates in AZ Retirement Plan Consultant for Invesmart in PA Implementation Consultant - Defined Contribution for AIG VALIC in TX Newly Posted Conferences (Post Yours!) Planning for an Emergency Evacuation for People With Disabilities in ALL STATES April 30, 2003 Thompson Publishing Group DOL's Proposed FLSA Exemption Regulations Changes in ALL STATES May 1, 2003 Thompson Publishing Group Introduction to Cross Testing eSeminar in ALL STATES June 4, 2003 McKay Hochman Participant Loans - Working with the Final Regulations in ALL STATES June 18, 2003 McKay Hochman Second Quarter 2003 Update in ALL STATES May 16, 2003 McKay Hochman Introduction to Retirement Plans in ALL STATES June 9, 2003 McKay Hochman Current Issues With 401(k) Plans in ALL STATES May 30, 2003 McKay Hochman 403(b) Plans eSeminar in ALL STATES June 24, 2003 McKay Hochman Health and Welfare Plan Management for Mid-Sized Employers Conference in IL June 3, 2003 University Conference Services and the Kenan-Flagler Business School, University of North Carolina at Chapel Hill The 9th Annual Mid-Sized Pension Management Conference in MA April 29, 2003 University Conference Services and Leonard N. Stern School of Business, New York University Investment Management for Institutional Investors in MA May 13, 2003 University Conference Services and Leonard N. Stern School of Business, New York University Newly Posted Press Releases (Post Yours!) Pan-American Life Adds 401(k) Plan Sponsor Tool to Website (Pan-American Life) Watson Wyatt Unveils New Defined Contribution Approach for Solving Health Care Cost Crisis (Watson Wyatt & Company) Handy Links:
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