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September 11, 2003 - 8,548 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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“More 12B-1 Fees Come to Market” An Interactive Audio Conference Thursday, September 18, 2003 * 2:00-3:30 p.m. ET Learn how to add leverage in negotiating for 401(k) plan services! Discover how recent rulings have opened the way for more 12B-1 fees to be used this process! Join us on September 18 for this interactive audio conference and learn the details of and how to adjust to the DOL’s new ruling.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
New IRS Ruling on Over-the-Counter Drugs: Some Implications for Plan Sponsors
Excerpt: "When designing the OTC coverage levels, plan sponsors should take into account the following considerations ..." (The Segal Company)
Overview: FSAs May Reimburse For Nonprescription Drugs, Says Rev. Rul. 2003-102
In Rev. Rul. 2003-102, the IRS has ruled that over-the-counter drugs can be paid for with pre-tax dollars through health care flexible spending arrangements (FSAs). Thus, reimbursements FSAs and other employer health plans for the cost of over-the-counter drugs available without prescription are not subject to tax if properly substantiated by the employee. Earlier this summer, the IRS's Harry Beker had indicated that the IRS would soon issue such a ruling. (Spencer Benefits Reports)
Bipartisan Senators Propose Measure That Would Provide Coverage to National Guard and Reservists
Excerpt: "Under current law, National Guard members and reservists lose health coverage 30 days after they return from deployment. The amendment would allow enlisted personnel to purchase health insurance on a full-time basis from Tricare, the managed health care plan for U.S. military personnel ..." (KaiserNetwork.org)
California Legislature Close To Passing Employer-Sponsored Health Insurance Bill
Excerpt: "California legislators are close to passing a bill (SB 2) that would require employers in the state to either provide health insurance to employees or pay into a state fund that would provide such coverage, the Wall Street Journal reports." (KaiserNetwork.org)
NPR Interviews Kaiser Family Foundation President Drew Altman About Employer Health Benefits Survey
Excerpt: "NPR's 'All Things Considered' on Sept. 10 interviewed Kaiser Family Foundation President and CEO Drew Altman about a survey by the foundation and the Health Research and Educational Trust finding that private health insurance premiums rose 13.9% between the spring of 2002 and the spring of 2003." (KaiserNetwork.org)
Department of Justice Warns Rx Depot To Cease Reimporting Drugs from Canada or Face Legal Action
Excerpt: "In an effort to limit prescription drug reimportation from Canada, the Justice Department, acting on a request by the FDA, on Sept. 9 sent a letter to Oklahoma-based Rx Depot saying it would file suit seeking a federal court order to close the pharmacy chain if it does not cease operations by [September 11, 2003], the New York Times reports ..." (KaiserNetwork.org)
Study: Investments In Mental Health Benefits Pay Off
Excerpt: "Although the number of employers offering mental health benefits has declined in recent years, a recent study by PacifiCare Behavioral Health (http://www.pbhi.com/) shows such benefits have effective, measurable results." (BenefitNews.com)
Report on New York State Healthcare Purchasing Plan for Small Employers (PDF)
41 pages. Excerpt: "This report is based on an evaluation sponsored by The Commonwealth Fund of the success and future viability of the HealthPass program. It provides HealthPass managers, as well as other sponsors and potential sponsors of similar programs, with an understanding of which program features and strategies have worked and which have not. It also gauges the program's impact on participating employers, employees, and insurers." (Stephen N. Rosenberg of Columbia University; published by the Commonwealth Fund)
Opinion: 'Consumer Choice' is Better Terminology Than 'Consumer-Directed' or 'Consumer-Driven'
Excerpt: "The Health Insurance Association of America (HIAA) held a briefing to unveil the results of a new study of 'consumer choice' health plans.... It is interesting, though not surprising, that employers are less enthusiastic about the concept than their employees are. Employers often think this is all too complicated and difficult for their workforce and it takes control away from the company. Paternalism is alive and well in corporate America." (Greg Scandlen of the Galen Institute)
Senator Snowe of Maine Cites Kaiser Healthcare Premiums Survey as Reason for Liberalizing AHP Rules
Press release. Excerpt: "U.S. Sen. Olympia J. Snowe (R-Maine) today called a third consecutive year of double-digit health insurance increases 'a wake up call for the Senate' to give final approval to Association Health Plans (AHPs) and help trim the ranks of the nation's 41 million uninsured individuals." (U.S. Newswire via International Foundation of Employee Benefit Plans)
Links to Items on Executive Comp, Benefits in General
Including References to ERISA in Documents for Church or Government Health Plan-- Any Effect?
Excerpt: "Unfortunately, the drafters of documents for ERISA-exempt plans often start out with samples intended for use by ERISA plans. So it is not unusual to find ERISA references in these documents. However, describing an arrangement as an ERISA plan is not enough to make an otherwise exempt plan subject to ERISA.... Notwithstanding these conclusions, however, ERISA references should be deleted as inaccurate unless, of course, the plan actually intends to follow those aspects of ERISA." (EBIA Weekly (Question of the Week))
Remembering September 11, 2001
BenefitsLink today remembers the innocent people who lost their lives on September 11, 2001: 2,645 at the World Trade Center, 147 passengers and crew members aboard the two hijacked planes, 125 at the Pentagon, 59 passengers and crew members aboard the hijacked plane, and 40 passengers and crew members aboard the hijacked plane that went down near Shanksville, Pennsylvania. (Source: Asheville [N.C.] Citizen-Times, 9/11/2003) (Link is to special section in the New York Times; one-time registration required)
Newly Posted or Renewed Job Openings
401(k) Plan Administrator
for Benefit Resources, Inc.
in CA
Plan Specialist
for Transamerica
in CA
Account Executive Director (Retirement Services)
for Principal Financial Group
in CO
Director/Fund Administrator
for New Jersey Taft-Hartley Benefit Funds
in NJ
Retirement Plan Consultant
for Primary Consulting, Inc.
in ALL STATES
Sales -- Pension & Cafeteria Plan Software
for DATAIR Employee Benefit Systems, Inc.
in IL
401K Administrator
for The Vanguard Group
in PA
Defined Benefit New Business Analyst
for GAP-Pension Inc.
in NJ
Retirement Plan Specialist (Part-Time)
for Diversified Investment Advisors
in GA
Benefit Analyst
for Snap-on Incorporated
in IL, WI
Director - Retirement Benefits Design
for SEI Investments
in PA
Newly Posted Webcasts
(Post Yours!)
Kaiser/HRET Annual Employer Health Benefits Survey 2003 Briefing
on September 9, 2003
presented by KaiserNetwork.org
Deferred Compensation Post Thomas Bill (H.R. 2896)
on September 18, 2003
presented by Retirement Capital Group
Newly Posted Conferences
(Post Yours!)
Mid-Sized Pension Management Conference
in IL
October 26, 2003
Presented by The Kenan-Flagler Business School at the University of North Carolina at Chapel Hill
Investment Management for Institutional Investors
in CA
November 9, 2003
Leonard N. Stern School of Business, New York University
Responding to, Coping with and Avoiding Wage & Hour Investigations
in ALL STATES
September 30, 2003
Thompson Publishing Group, Inc.
Newly Posted Press Releases
(Post Yours!)
ASPA 401(K) Sales Summit Returns In 2004
(ASPA)
New EDI Regulations Mapped Out in the HIPAA Security Compliance Manual for Health Plans
(International Foundation of Employee Benefit Plans)
Washington State Renews Contracts with ICMA-RC
(ICMA Retirement Corporation)
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)
Al Hamwright (International Foundation of Employee Benefit Plans)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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