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May 29, 2003 - 8,255 subscribers
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New Tax Law Omits Child Credit in Low-Income Brackets
Excerpt: "A last-minute revision by House and Senate leaders in the tax bill that President Bush signed today will prevent millions of minimum-wage families from receiving the increased child credit that is in the measure, say Congressional officials and outside groups.... Because of the formula for calculating the credit, most families with incomes from $10,500 to $26,625 will not benefit." (New York Times; one-time registration required)
How the New Tax Law Alters the Child Tax Credit and How Low-Income Families Are Affected
Excerpt: "The final bill dropped a child tax credit provision included in the Senate version of the tax bill that would have assisted close to 12 million low-income children, many of whom receive no benefit from the final bill. The final legislation accelerates the child tax credit provision of the 2001 tax cut that is targeted on middle- and upper-income families, but not the comparable provision of the 2001 law that is targeted on low- and moderate-income families." (Center on Budget Policies and Priorities)
Overview: Proposed COBRA Regulations Would Expand Notice Obligations
Excerpt: "Plans must provide an initial COBRA notice to employees and spouses within 90 days of coverage commencement. Special criteria describe procedures to follow when an employee and spouse become covered at different times." (Thompson Publishing Group)
Opinion: FMLA Decision by Supreme Court Shows States' Rights Muddle
Excerpt: "The Supreme Court stemmed its deeply troubling line of states' rights cases yesterday by handing down a decision that reaffirms Congress's broad power to prevent discrimination by states.... The change is welcome -- yet it underlines the absence of recognizable principles in the court's decisions governing the balance of power between states and the federal government. The result is a muddle." (Washington Post via International Foundation of Employee Benefit Plans)
State Court Dismisses Class Action Against ERISA Plan Seeking Attorney's Fees
Excerpt: "After reimbursing the Plan, [plaintiff John D.] Alleman then filed a class action complaint against BlueCross/Blue Shield of Illinois (the [Wal-Mart Stores, Inc. Associates' Health and Welfare Plan's] claims paying administrator), seeking to recover on behalf of all attorneys in the state of Illinois who had reimbursed the Wal-Mart Stores, Inc. Associates' Health and Welfare Plan, but were not paid attorney's fees under the Illinois common fund doctrine." (Lawrence & Russell, LLP)
Physician House Calls Found Cost-Effective for Elderly Patients
Excerpt: "Physician house calls reduced hospitalizations, length of stay, and emergency department visits, and they may be financially favorable, according to the results of a randomized controlled trial presented at the American Geriatrics Society 2003 Annual Scientific Meeting on May 16 in Baltimore, Maryland." (Medscape; one-time registration required)
For Physicians: Choosing Which Health Plans to Accept from Your Patients-- Finding the Keepers
Excerpt: "In today's climate of eroding payments and growing hassles, it makes good sense to look critically at every health plan you do business with to identify the keepers. Done properly, the process will net you improved payment for your services, fewer hassles and undiminished patient volume." (Medscape; one-time registration required)
Overview of ERISA-Covered Health Plan Claims Procedure Regulations
Excerpt: "On July 1, 2002, the U.S. Department of Labor, under authority granted by the Employee Retirement Income Security Act of 1974 (ERISA), put into effect new regulations covering claims procedures for employer-based health plans. The focus of this Overview and the accompanying documents-- a summary of the main provisions of the claims procedures, a glossary, and three charts outlining timelines for claims-- is the regulations' impact on employer-based group health plans." (Health Assistance Partnership)
California Blues Funding Research on Universal Healthcare
Excerpt: "Blue Shield of California, San Francisco, is putting money behind its effort to promote statewide universal healthcare. The insurer's philanthropic arm, the Blue Shield of California Foundation, awarded $940,000 to the New America Foundation, Washington, for a two-year project ..." (Modern Healthcare)
Big Businesses Call For Universal Health Care Coverage
Excerpt: "Unless there is comprehensive reform of America's health care system, the average premium for family coverage in employer-sponsored plans will reach $14,545 in 2006 ... That's one conclusion from 'Charting the Cost of Inaction,' a new report from the National Coalition on Health Care (www.nchc.org).... Although the coalition is still working on a specific reform proposal, it has agreed on the following principles: Health insurance for all ..." (Washington Business Journal via bizjournals.com; one-time registration required)
Opinion: Manipulating Numbers by the Health Care Establishment
Excerpt: "I decided to dig a little deeper and look up this report by the National Coalition on Health Care titled 'Charting the Cost of Inaction.' You will surely be shocked-- shocked!-- to learn that the numbers are cleverly manipulated to achieve a pre-determined conclusion.... That is not to dismiss the concern about the growing costs of coverage. But a straight-line projection from the past few years tells us next to nothing about the future." (The Galen Institute)
Opinion: Democrats and CEOs Outpacing Bush on Healthcare Reform
Excerpt: "As demonstrated by a remarkable press conference on Monday, it's not just Democratic presidential candidates who are insisting that America's health care crisis move to the top of the political agenda. The case was made by CEOs of Giant Food, the Kellogg Co., SBC Communications and Cinergy Corp., an energy giant, as well as the presidents of the Communications Workers of America and the California Public Employees' Retirement System." (Morton Kondracke via the Naples [Fla.] Daily News)
Links to Items on Executive Comp, Benefits in General
Delta Air Lines Begins Stock Option Exchange Program for Employees
Excerpt: "Delta Air Lines employees have about a month to turn in worthless stock options they hold for new ones that are much more likely to be valuable. The Atlanta airline on Wednesday began an option exchange program that was approved last month at Delta's annual shareholders meeting." (The Atlanta Journal-Constitution via NewsAlert.com)
Stock Option Plans Confound Many Workers, Experts Say
Excerpt: "Enron starkly highlighted the need to educate American workers on managing 401(k) accounts, but another perk-- the stock option-- is even harder for employees to understand and use to their benefit, experts say." (CBS.Marketwatch.com)
Newly Posted or Renewed Job Openings
Employee Benefits Sales Representative
for Great West Life & Annuity
in MI, NY, OH, TX
Pension Administrator
for The Pension Service, LLC
in MA
Executive Director, WAICU Benefits Consortium
for Wisconsin Association of Independent Colleges and Universities
in WI
Financial Planning Manager
for ICMA Retirement Corporation
in CA, CO, FL, IL, VA
Regional 401(k) Sales Director Opportunity
for Decimal, Inc. - The Online 401(k)™
in ALL STATES
Benefit Communication & Administration Specialist
for Benefits Consulting Firm
in NJ
VP Benefits
for Harrah's
in NV
Employee Benefits Tax Consultant
for Deloitte & Touche
in FL, GA, NC
Newly Posted Conferences
(Post Yours!)
ERISA FIDUCIARY Conference: Advising and Running Employee Benefit Plans in a Post-Enron World
in IL
June 20, 2003
Glasser LegalWorks
Domestic Partner Benefits: What Do You Need to Consider?
in ALL STATES
June 24, 2003
Thompson Publishing Group
Health Care Cost Containment Seminar: Real World Solutions and the Providers' Perspective
in CA
June 26, 2003
ArlenGroup
Newly Posted Press Releases
(Post Yours!)
New Withholding Tables on IRS Web Site Reflect Tax Law’s Changes
(Internal Revenue Service)
Taxpayers to Receive Advance Child Tax Credit This Summer
(Internal Revenue Service)
IRS Publishes 'Frequently Asked Questions' About Advance Child Tax Credit Payments
(Internal Revenue Service)
IRS Publishes 'Fact Sheet' on Advance Child Tax Credit
(Internal Revenue Service)
2003 Tax Law Summary Materials Available Now From Newkirk
(Newkirk)
Assist America Appoints Jennifer Orlikoff Vice President of Corporate Communications
(Assist America)
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