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June 6, 2003 - 8,276 subscribers
Today's sponsor: EBIA's Group Health Plans: Federal Mandates Other Than COBRA & HIPAA
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Easy-to-use compliance guides written by experienced benefits attorneys Group Health Plans: Federal Mandates Other Than COBRA & HIPAA, covers QMCSOs, health coverage for adopted children, the Mental Health Parity Act, minimum hospital stays for newborns and mothers, the Women’s Health and Cancer Rights Act, federal employment laws affecting group health plans (ADA, ADEA, USERRA, etc.), Medicare Secondary Payer, HMO nondiscrimination requirements, etc. Click above to order this or other EBIA publications!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Senate Approves Child Tax Credit in Lower Bracket
Excerpt: "The Senate voted overwhelmingly [on June 5, 2003] to give an increased child tax credit to millions of low-income families who did not receive it in the new tax law, moving rapidly to quell an issue that Democrats had used to portray Republicans as brutish toward the poor." (New York Times; one-time registration required)
Overview: DOL Issues COBRA Notice Regulations (PDF)
Excerpt: "The Proposed Regulations are proposed to be effective for plan years beginning on or after January 1, 2004.... [E]mployers and plan administrators may need to change their COBRA administration policies and procedures, adopt new COBRA notices and revise the summary plan descriptions ('SPDs') for their health plans. In addition, employers that use a service provider to administer COBRA may need to amend their service agreements, and insurance contracts may need to be revised." (Kilpatrick Stockton LLP)
7th Circuit: FMLA Protects Sleeping Employee from Being Fired
Excerpt: "As if administering and enforcing the Family and Medical Leave Act wasn't difficult enough, the 7th Circuit Court of Appeals in Chicago recently ruled an employee fired for sleeping on the job is entitled to reinstatement under FMLA." (BenefitNews.com)
California Assembly Passes Bill Requiring State Contractors to Provide Domestic Partner Benefits
Excerpt: "[T]he Assembly passed a measure that requires state contractors to extend benefits to domestic partners. The bill sponsored by Christine Kehoe, D-San Diego, passed on a 42-30 vote late Wednesday night." (The Oakland Tribune)
Study Finds Many Workers Desire Flexible Schedules (PDF)
72 pages. Excerpt: "If high-quality reduced-work schedules were more widely available to them, the vast majority of unionized employees say they would be likely to take advantage of them at some point in their lives. Moreover, a significant number--perhaps about a quarter--would likely take advantage of them right now, considerably more than the approximately 11% who currently work part time. Of those, many would, if they could, opt for cutting their schedules by only 10% or 20%." (Labor Project for Working Families)
Military Retiree Health Benefits: Enrollment Low in Federal Health Plans Under DOD Demonstration
60 pages. Excerpt: "Prior to 2001, military retirees who turned age 65 and became eligible for Medicare lost most of their Department of Defense (DOD) health benefits. The DOD-Federal Employees Health Benefits Program (FEHBP) demonstration was one of several demonstrations established to examine alternatives for addressing retirees' lack of Medicare supplemental coverage.' Highlights online at http://www.gao.gov/highlights/d03547high.pdf (U.S. General Accounting Office)
Disease Management: Tackling Diabetes
Excerpt: "Diabetes causes 82,000 people to lose a foot or leg to amputations each year -- a result of severe damage to their nervous systems. However, comprehensive foot care programs can reduce these amputation rates by 45 to 85 percent, so getting the message out is imperative." (Healthplan via Medscape; one-time registration required)
Generic Drug Bill Could Save 'Billions,' Senators Say
Excerpt: " As expected, a bipartisan group of senators on June 5 announced a compromise plan they said 'could save billions of dollars' by allowing lower-cost, generic versions of prescription drugs to reach the market more quickly ..." (KaiserNetwork.org)
Senate Finance Committee Members Reach Agreement on Medicare Drug Proposal
Excerpt: "Senate Finance Committee Chair Charles Grassley (R-Iowa) and Sen. Max Baucus (D-Mont.), the committee's ranking Democrat, on June 5 reached an agreement on a $400 billion, 10-year Medicare reform proposal that would increase use of private health plans and would give an equal drug benefit to all beneficiaries, regardless of whether they join a private plan, the Washington Times reports." (KaiserNetwork.org)
ERIC Publishes Summary of Senate Finance Committee Prescription Drug Agreement
2 pages. (ERISA Industry Committee)
What Do Consumers Want in a Medicare Prescription Drug Benefit? (PDF)
3 page chart; compares current bill provisions. (Consumers Union)
Maine Governor Announces Health Care Proposal Agreement
Excerpt: "Maine Gov. John Baldacci (D) on May 29 announced that after 'weeks of wrangling,' the state's health plans, hospitals and physicians have reached an agreement over the most 'contentious' issues in his health care proposal, the Portland Press Herald reports." (KaiserNetwork.org)
Cost of Covering Uninsured Could Be 'Worthwhile Investment,' Study Says
Excerpt: "The cost of health coverage for all 41 million uninsured U.S. residents 'may be relatively small or at least a very worthwhile investment' and would add at least 3% to 6% per year to total U.S. health care expenditures, according to a study published June 4 on the Health Affairs Web site ..." (KaiserNetwork.org)
New Proponents for Healthcare Reform: CEOs
Excerpt: "In an extraordinary gathering, the CEOs of some of America's largest companies - from Kellogg's to SBC Communications - called on Congress and the White House to stop dillydallying with band-aids for the nation's healthcare system and to come up with comprehensive, systematic reform." (Christian Science Monitor via International Foundation of Employee Benefit Plans)
Links to Items on Executive Comp, Benefits in General
Text of Proposed Regulations for Incentive Stock Options (PDF)
100 pages. Excerpt from IRS press release: 'When finalized, these regulations will update the existing regulations to conform to current law, and will replace regulations proposed in 1984.... In addition to restating the existing rules, the new proposed regulations include updated rules addressing current issues and practices, such as ISOs issued by limited liability companies and other entities that elect corporate tax treatment." (Internal Revenue Service)
Senate Approves Bill Providing Full Retirement Pay in Addition to Disability Pay, for Disabled Vets
Excerpt: "The Senate on June 4 approved by voice vote an amendment to the $400.5 billion defense authorization bill for fiscal year 2004 that would allow disabled veterans to receive full retirement pay in addition to disability compensation, the Associated Press reports." (KaiserNetwork.org)
Newly Posted or Renewed Job Openings
Employee Benefits Recordkeeper
for First American Bank
in IL
Retirement Plan Consulting Manager - Traditional
for Invesmart
in OR
Newly Posted Webcasts
(Post Yours!)
Trends in Executive Compensation
on June 10, 2003
presented by FEI and Frederic W. Cook & Co.
Covering the Uninsured: How Much Would It Cost?
on June 4, 2003
presented by Kaiser Family Foundation and Health Affairs, Washington, D.C.
Newly Posted Conferences
(Post Yours!)
Form 5500 Workshop
in NJ
June 11, 2003
WEB NEW JERSEY CHAPTER
Newly Posted Press Releases
(Post Yours!)
Vanguard First to Combine Financial Engines' Advisory Service with Transaction & Data Aggregation Capabilities for Employees
(The Vanguard Group and Financial Engines)
Abstracts of Articles in New Issue of Journal of Pension Economics and Finance
(Journal of Pension Economics and Finance)
Firms Partner to Help 401k Participants Become Better Retirement Planner and Investors
(401khelpcenter.com)
Diversified Investment Advisors Identified as Top-Rated Defined Contribution Provider
(Diversified Investment Advisors)
Treasury and IRS Propose Regulations For Incentive Stock Options
(Internal Revenue Service)
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