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September 29, 2003 - 8,548 subscribers
Today's sponsor: EBIA's Cafeteria Plans
(Click on company name or banner to learn more.)
Reimbursements for Over-the-Counter Drugs! So much has been happening in the Cafeteria Plans world (e.g., OTC Drug and Electronic Payment Cards Rulings)--and EBIA is here to help! Our Cafeteria Plans manual is the best resource available. Written and edited by top employee benefits attorneys, our Cafeteria Plans manual (updated quarterly) has over 1,600 pages packed with information and sample documents to help you meet the legal requirements for cafeteria plans, health FSAs, DCAPs, etc. Click above for details.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Predicted Alzheimer's Prevalence Makes LTC Insurance More Attractive
Excerpt: "The prevalence of Alzheimer's disease is likely to explode as much as 300% for the current generation of young employees, giving employers more reason to offer and encourage the purchase of long-term care (LTC) policies." (BenefitNews.com)
House Committee Approves Bill for Cafeteria-Plan-Like Tax Treatment for Fed. Retiree Contributions
Excerpt: "The House Government Reform Committee on Thursday passed a bill to allow tax deductions for federal civilian and military retirees paying into federal health insurance premium programs. The bill (H.R. 1231) would amend the U.S. tax code to allow federal civilian and military retirees to pay into the Federal Employees Health Benefits Program on a pretax basis ..." (GovExec.com)
Supreme Court's Recent ERISA Decisions Could Increase Health Plan Costs
Excerpt: "Considering how few lawsuits reach the Supreme Court, it is remarkable that the nation's highest judicial body has ruled on four cases involving benefits questions in the past two years. Even more notable is that all four cases involved ERISA, and three verdicts went against health plan providers and, by proxy, employers." (BenefitNews.com)
General Mills' "Main Street" Program Raises Employee Perks To New Level
Excerpt: "Hand over Baby at your day care's drive-up entrance. Roll half a block to fill your tank or get a tune-up. Park, walk a little way and get a French manicure, even if it's 7:30 in the morning. While you're at it, highlight those graying locks. Welcome to General Mills' 'Main Street.'" (Star Tribune Company via International Foundation of Employee Benefit Plans)
Pet Insurance Posts Steady Gains In Benefit Offerings
Excerpt: "In a year when most personal service benefits have been reduced or eliminated, pet insurance has managed to keep its paw-hold in the market." (BenefitNews.com)
Loss of Company-Paid Life Insurance Vexes Retirees
Excerpt: "Although cuts in health care reimbursements garner most of the attention, company-paid life insurance benefits are also being reduced or eliminated for future or current retirees. And unlike medical insurance, there's no Medicare-type replacement for this financial asset. Plus, there's little employees can do to restore it." (The Houston Chronicle)
Open Healthcare Enrollment Can Mean Savings for Employees
Excerpt: "Open enrollment season for health benefits is quickly approaching. And employees who do their homework may be able to save hundreds or even thousands of dollars." (AP via Washington Post)
Inflation-Adjusted Figures for 2004 Long-Term Care Insurance, Adoption Expenses and Archer MSAs
Excerpt: "For Archer MSA purposes, in 2004, a 'high deductible health plan' will be a health plan-- with an annual deductible of at least $1,700 (same as in 2003) and not more than $2,600 (up from $2,500), in the case of self-only coverage ... under which the annual out-of-pocket expenses required to be paid (other than for premiums) for covered benefits doesn't exceed ... $3,450 (up from $3,350) for self-only coverage ..." (RIA Tax News)
Links to Items on Executive Comp, Benefits in General
Overview: IRS Issues Final Regulations on Taxation of Split-Dollar Life Insurance Arrangements (PDF)
4 pages. Excerpt: "In the preamble to the final regulations, the Internal Revenue Service and Treasury repeatedly rejected comments urging the adoption of more flexible rules or other changes to the proposed rules. The significant differences between the proposed and the final rules are described below." (Sutherland Asbill & Brennan LLP)
John Hancock to be Acquired by Manulife
Excerpt: "John Hancock Financial Services Inc. agreed today to be acquired by Manulife Financial Corp. in a stock swap worth about $10.4 billion, confirming a deal involving one of the oldest names in the U.S. financial services industry." (Washington Post)
Many Retirees Having to Head Back to Work
Excerpt: "Pensions, when available, are shrinking beside the swelling costs of making it through old age. Social Security doesn't add that much, and Medicare doesn't pay for drugs-- the fastest-growing health care cost. Savings, which could once be counted on to produce supplemental interest income, yield a fraction of the dollars they once provided. Mounting costs of living and educating children are causing significant numbers of Americans not to save for retirement at all." (The Baltimore Sun)
Newly Posted or Renewed Job Openings
401(k) Account Manager
for CNA
in CA
Defined Benefit Implementation Specialists
for Constantin Control Associates
in IL, NJ, NY
401k Sr Plan Specialist
for BISYS Retirement Services
in PA
401k Client Service Representative
for BISYS Retirement Services
in PA
Account Manager for Pension Services
for Advisors Pension Services, Inc.
in OH
Employee Benefits Account Manager
for Craford Benefit Consultants
in CA
ERISA Research Lawyer
for Kraw & Kraw
in CA
Pension Plan Administrator 40-50K
for Praxis Search LLC
in NJ
Newly Posted Conferences
(Post Yours!)
Troubleshooting Problems in Qualified Domestic Relations Orders
in ALL STATES
October 22, 2003
Thompson Publishing Group, Inc.
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