September 5, 2003 - 8,548 subscribers Today's sponsor: International Foundation of Employee Benefit Plans (Click on company name or banner to learn more.) International Foundation Books Available on BenefitsLink. When you have the right resources, you can answer the questions that come your way. Each year, the International Foundation teams with respected authors and publishes books on a variety of topics. Whether you're managing pharmacy benefit costs, designing a cash balance plan or communicating benefits to your employees, the International Foundation is your single source of benefit and compensation information and education. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) Overview: Over-the-Counter Medicines Can Be Covered by Flexible Spending Accounts (PDF) 2 pages. Excerpt: "You should determine whether you want your FSA or HRA to cover over-the-counter medications. Revenue Ruling 2003-102 permits an FSA or HRA to cover these expenses. Coverage of these expenses, however, is not required." (von Briesen & Roper, s.c.) Overview: Over-the-Counter Medicines Now Reimbursable (PDF) 2 pages. Excerpt: "In the case of a plan document that uses a general reimbursement standard (e.g., an HFSA that promises to reimburse all expenses that qualify under section 105(b)), it appears the Ruling would cause the plan automatically to cover over-the-counter medicines back for all open periods." (Kilpatrick Stockton LLP) Can You Be Sued If COBRA Notices Don't Measure Up? Excerpt: "We can't say it often enough: If the contents of your COBRA election notices don't clearly inform qualified beneficiaries of their rights to continuation coverage, you are vulnerable to being sued for not complying with COBRA rules." (OnQue Technologies Inc.) HMO's Method of Calculating Copayments Did Not Violate the Terms of Health Care Plan The Tenth Circuit U.S. Court of Appeals has ruled that an HMO's method of calculating members' copayments did not violate the terms of a health care plan. The ruling came in Lefler, et al. v. United HealthCare of Utah, Inc. (No. 01-4228). (Spencer Benefits Reports) Helping Employees With Elder Care Excerpt: "As employees' elder care obligations increase, many experts say, so will employers' costs. Currently, according to MetLife, these costs come to at least $11 billion a year in lost productivity-- absenteeism, workday interruptions-- as well as turnover when employees leave the workforce because they feel overwhelmed by their elder care responsibilities." (HR Magazine) Helping Employees Cope With Grief Excerpt: "A death in the family-- especially if it's sudden ...can plunge survivors into sorrow and even depression, altering their work habits and affecting those around them. How an employer reacts during this vulnerable time can make a difference in a grieving employee's recovery." (HR Magazine) Consumer Advocate Testifies About Proposed California Law Mandating Employer-Sponsored Health Plans Press release. Excerpt: "The Foundation for Taxpayer and Consumer Rights (FTCR), which has not taken a position in support or opposition to the plan, offered the following analysis ..." (The Foundation for Taxpayer and Consumer Rights) Industry Fights to Put Imprint on Drug Bill Excerpt: "The story of how pharmaceutical manufacturers helped shape the Medicare drug benefit is, in part, that of a calculated decision by a lucrative industry to throw its financial weight behind one political party -- with $50 million in campaign contributions over the last four years, the vast majority to Republicans." (New York Times; one-time registration required) Frist Promises to Deliver Medicare Bill Excerpt: "GOP congressional leaders negotiating a Medicare prescription drug benefit have hit a few hurdles, but Senate Majority Leader Bill Frist is sure a benefit will be enacted this year." (AP via Washington Post) Links to Items on Executive Comp, Benefits in General Can Former Employees Receiving Severance Pay Continue to Participate in Our 125 and 401(k) Plans? Excerpt: "Generally, former employees can continue to participate in a cafeteria plan on a salary-reduction basis if the cafeteria plan document so provides. In contrast, the 401(k) rules permit only current employees to make elective deferrals under a 401(k) plan. Consequently, your former employees cannot continue to participate in the 401(k) plan after their termination." (EBIA Weekly (Question of the Week)) Adapting to an Option Expensing Environment: Three Steps to Prepare Your Organization Immediately Excerpt: "This article neither debates the validity of option expensing nor endorses one accounting treatment over another. Rather, it addresses the three-step process that every U.S. company using equity compensation should follow over the next few months in order to prepare for this fundamental accounting change." (Buck Consultants) Welcome to new BenefitsLink advertiser Benefit Express Excerpt: "Benefit Express offers Online tools to efficiently manage HR & Benefits Administration. From events-based total outsourced administration to special group services, Benefit Express offers administration services and support for only those areas relevant to your business. We work closely with each organization to determine what is the best fit. You'll see the Benefits!" Newly Posted or Renewed Job Openings Manager, Compliance for Means & Associates, LLC in CA Health & Welfare Consultant for Towers Perrin in CT, DC, OH, PA, TX Senior Benefits Consultant for Fortune 500 Company in WI Defined Benefit Calculation Analyst I for Diversified Actuarial Services, Inc. in MA Senior Defined Benefit Calculation Analyst for Diversified Actuarial Services, Inc. in MA Defined Benefit Data Analyst I for Diversified Actuarial Services, Inc. in MA DB Business Systems Analyst for Diversified Actuarial Services, Inc. in MA Pension Administrator for St. Louis Benefits Consulting Firm in MO Client Service Representative - Group Benefits for Orange County Insurance Agency in CA Pension Plan Administrator for Gateway Pension Services, Ltd. in MO Senior Defined Benefit Data Analyst for DIVERSIFIED ACTUARIAL SERVICES, INC. in MA Newly Posted Webcasts (Post Yours!) Domestic Partner Benefit Developments on September 18, 2003 presented by International Foundation of Employee Benefit Plans Newly Posted Conferences (Post Yours!) Tales from the Crypt II: Demystifying the Underwriting Process in OH September 18, 2003 WEB (Worldwide Employee Benefits Network) - Cleveland Chapter Newly Posted Press Releases (Post Yours!) Schwab Offers Personal Rate of Return (dailyVest Inc.) Handy Links:
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