May 2, 2003 - 8,183 subscribers Today's sponsor: EmployeeBenefitsJobs.com (Click on company name or banner to learn more.) Where the best benefits employers find the best candidates Fill your employee benefits job openings fast by advertising on BenefitsLink. What better place to find qualified candidates? Your help wanted ad will be listed in the BenefitsLink Newsletter (over 21,000 subscriptions to the two editions), will be seen by thousands of candidates who view our listings online, and will be emailed to over 3,100 job-seekers. Click above to see how easy it is to place an ad! Health Insurance Reform Bills Winding Way Through California Legislature Excerpt: "A stack of competing bills to reform health insurance in California is headed for a serious discussion in the Legislature, although no one can commit to major changes being enacted this year." (The [San Jose, Calif.] Mercury News via NewsAlert.com) HMOs Reap Spoils from Over-the-Counter Claritin Excerpt: "As HMOs post record profits this quarter, many are thanking over-the-counter Claritin for helping to chip away at pharmacy costs. Schering-Plough Corp.'s blockbuster antihistamine lost U.S. patent protection last year and became available over the counter for a fraction of its former cost." (Reuters via the Washington Post) Healthcare Limps Up the Political Ladder Excerpt: "The health care crisis is returning to American politics-- gradually, but inexorably, with a force that will most likely grow as rising costs and deepening cuts squeeze more and more voters" (New York Times; one-time registration required) Kaiser Daily Health Policy Report Rounds Up Reaction to Gephardt Excerpt: "Several opinion pieces have been published in recent days addressing presidential candidate Rep. Dick Gephardt's (D-Mo.) near-universal health insurance coverage plan. Under the proposal, Gephardt would expand access to coverage by roughly doubling the federal subsidy to businesses to pay for insurance premiums to 60% and require employers to provide coverage ..." (KaiserNetwork.org) Updated: Towers Perrin Health & Welfare Legislative Tracking Chart Excerpt: "What's New: A pension-related bill (H.R. 1776) that includes FSA carryover and retiree medical provisions. A bill (H.R. 176) that would allow carryover of up to $2,000 in unused health FSA funds.... A bill (S. 661) that would increase and make uniform the dollar limit on all types of transportation fringe benefits. A bill (H.R. 1322) to prohibit group health plans from making post-retirement reductions of retiree health benefits and to restore benefits reduced after retirement...." (Towers Perrin) Updated: Towers Perrin Human Resources Legislative Tracking Chart Excerpt: "What's New: A bill (H.R. 1119) that would amend the FLSA to allow compensatory time off in lieu of cash overtime pay was approved by the House Education and the Workforce Committee. A bill (H.R. 1430) that would amend the FMLA to permit leave to care for domestic partners, grandparents, siblings, adult children and parents-in-law. A bill (H.R. 956) that would amend the FMLA to permit leave for routine medical needs, and to participate in educational or extracurricular activities...." (Towers Perrin) Opinion: Health Insurance Tax Credits Are Best Way To Aid Uninsured Americans Excerpt: "Why does the government want to punish me for keeping up my insurance coverage? And why does the government then turn around and complain that there are 41 million uninsured people in the country? This is a system that makes absolutely no sense." (Athens [Ga.] Banner-Herald) Opinion: Private Health Plans Versus Social Insurance-- Implications for Health Care Reform Excerpt: "Private health plans are responsible for much of the administrative waste that uniquely characterizes the health care system of the United States. And for this outrageous cost and inefficiency, these plans are providing highly flawed and inequitable methods of pooling funds and allocating health care resources. We are receiving remarkably little value from this very costly industry." (Physicians for a National Health Program) Opinion: Free Market Forces 'Won't Easily Cure' Health Care Excerpt: "While there is 'a lot to be said for bringing the market to health care,' the 'notion that competition might be good for the health care system isn't new,' and it may be 'worth pondering the difficulties,' [David] Wessel writes [in the Wall Street Journal] ..." (KaiserNetwork.org) Links to Items on Executive Comp, Benefits in General Opinion: Pension Are Sacred -- At Least for Executives Excerpt: "[I]n a week when even Fortune, the corporate playbook, has adorned its cover with a CEO with a pig's head and the title 'Oink! CEO Pay Is Still Out Of Control,' how about starting with the guys running corporate America? They have, after all, in the course of the last year gone from American Idols to America's Most Wanted." (The Tallahassee [Fla.] Democrat) Stealth Wealth: Companies May Struggle, But Top Execs Keep Padded Pensions Excerpt: "When [Delta Air Lines' CEO Leo Mullin] joined Delta less than six years ago, the company gave him a sterling salary, nice bonuses and other incentives. And they did one more thing: They added 22 extra years to his pension. That's 22 years for work not performed." (ABC News) Denver Mayor Calls for Cuts in Benefits for City Employees Excerpt: "The changes would affect most areas of city pay and benefits, including how salaries are set, merit pay, overtime, the pension plan, health insurance and early-retirement options." (The Denver Post) Newly Posted or Renewed Job Openings 401(k) Client Relationship Manager for Great West Life & Annuity in MN, PA, TN Senior Counsel/Associate General Counsel for Financial Engines, Inc. in CA Senior Pension Administrator (Client Delivery Senior Specialist) for Towers Perrin in NJ, PA Non-Qualified Project Manager for Merrill Lynch in NJ Employee Benefit Trust Administrator III for Large Southeast Bank in FL Employee Benefits Attorney - Part Time for Zywave, Inc., a sister company of Frank F. Haack & Associates in WI Newly Posted Conferences (Post Yours!) Employee Benefits Conference in NY August 12, 2003 Foundation for Accounting Education 2003 ICI/SIA Retirement Savings Conference in DC June 1, 2003 The Investment Company Institute and the Securities Industry Association Newly Posted Press Releases (Post Yours!) Milliman USA Acquires Insurance Actuarial Software Practice from IBM (Milliman USA) Handy Links:
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