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October 6, 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)
California Governor Signs Employer-Sponsored Health Coverage Bill
Excerpt: "As expected, California Gov. Gray Davis (D) on Sunday signed a bill (SB 2) that will require some 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)
Opinion: New Calif. Law Could Be National Model But Cost Controls Must Be Adopted
Press release. Excerpt: "The consumer advocacy group the Foundation for the Taxpayer and Consumer Rights (FTCR) applauded Davis' decision but said the state must now regulate health insurance premiums and hospital and physician rates in order to make the plan work." (The Foundation for Taxpayer and Consumer Rights)
Americans Living Healthier, Longer, But Getting Fatter
Excerpt: "Our life expectancy has reached an all-time high of just over 77 years ... Back in 1900, the average person lived to be 47." (Washington Times)
HMO Lawyer Takes on Pharmacy Benefit Managers
Excerpt: "A lawyer who took on HMOs and forced giants Aetna and Cigna to settle class-action lawsuits with thousands of doctors said on Friday he is targeting a new fall guy in health care -- pharmacy benefits managers. Archie Lamb, based in Birmingham, Alabama, is suing the four big U.S. pharmacy benefits managers, the companies that buy pharmaceuticals for employers and other health care payers." (Washington Post)
CIGNA Announces Accident Insurance for Commuting, Carjacking
Excerpt: "The company has introduced enhanced accident insurance that pays benefits to people who are hurt or killed while commuting to work or by carjacking." (BenefitNews.com)
Two Newspapers Examine Employer Response To Increased Health Insurance Premiums
Excerpt: "Two newspapers on Monday examine how employers are responding to rising health insurance premiums. Summaries appear below." (KaiserNetwork.org)
Wal-Mart Health Plan Brings New Meaning to 'Bare Bones'
Excerpt: "Retail giant Wal-Mart is taking a dramatic step in response to rising health care costs, unveiling a new, spare health benefits plan.... Wal-Mart's health plan does not cover retirees at all, nor does it pay for employees' everyday health expenses like flu shots, eye exams and child vaccinations.... However, the company does cover catastrophic medical claims, with no lifetime cap ..." (BenefitNews.com)
A Slave to Health Insurance
Excerpt: "Three years ago, before the recession officially began, 50.3 percent of women ages 55 to 64 were working full- or part-time. As of last month, according to figures released yesterday by the U.S. Bureau of Labor Statistics, that had risen to 54.1 percent, an increase that becomes even more considerable when compared with every other sector of the workforce." (Washington Post)
Medicare Plan Lifts Premiums for Persons with Higher Incomes
Excerpt: "With unexpected support from some Democrats, Republican negotiators from the House and the Senate say they are seriously considering a change in Medicare that would require elderly people with high incomes to pay higher premiums than other beneficiaries." (New York Times; one-time registration required)
Opinion: Armageddon for Medicare?
Excerpt: "When we arrive willy-nilly on the plains of fiscal Armageddon, let no politician say bad intelligence put us there.... The problem is that while Medicare recipients (like Social Security recipients) are entitled under law to the benefits they receive, the relative number of taxpayers available to pay for those benefits is dwindling." (Terence P. Jeffrey in the Washington Times)
Health Plan Administrative Expenses Ranged From $15.17 For Indemnity To $48.70 For Medicare+Choice:
Blue Cross/Blue Shield plans report 2002 median expenses of $22.46 per member per month for all health plan administration of all comprehensive products, according to the Sherlock Company in a survey of 17 Blues plans comprising 41% of all such plans and approximately 30% of all Blue plan members. (Spencer Benefits Reports)
Links to Items on Executive Comp, Benefits in General
Benefits, Beyond the Fringe: Look at Insurance and Pension Plans As Well as Salary
Excerpt: "[A] worker considering the benefits offered by a new job should determine what his or her own needs are and what else is available, such as through a spouse's employer, and then draw up a comparison between the new job and the present one." (Washington Post)
Former DOL Secretary John Dunlop Dies
Excerpt: "John T. Dunlop, 89, secretary of labor during the Ford administration and a leading labor-management expert of the post-World War II period, died Oct. 2 ..." (Washington Post)
Newly Posted or Renewed Job Openings
Plan Administrator
for weaver partners, inc.
in ALL STATES
401(k) Administrator
for CMC Retirement and Employee Benefits Specialists, Inc
in CA
ERISA Benefits Attorney
for DATAIR Employee Benefit Systems, Inc.
in IL
Corporate Benefits Counsel
for ADP TotalSource
in FL
DC Pension Administrator
for J.M. Singley & Associates, Inc.
in PA
Health Insurance Sales Assistant
for Great-West Healthcare
in IL
Distribution/Pension Assistant
for Tycor Benefit Administrators, Inc.
in PA
Newly Posted Webcasts
(Post Yours!)
IRS/ASPA 401(k) Update Webcast
on October 16, 2003
presented by ASPA
IRS/ASPA 401(k) Update Webcast
on October 16, 2003
presented by IRS and ASPA
Health FSAs and Over-the-Counter Drugs
on October 7, 2003
presented by Employee Benefits Institute of America, LLC (EBIA)
Retirement Plan Loans - State vs. ERISA, a whole new ballgame
on October 8, 2003
presented by McHenry Consulting Group
Health FSAs and Over-the-Counter Drugs
on October 7 - 31, 2003
presented by Employee Benefits Institute of America, LLC (EBIA)
Reshaping the Future of America’s Health
on October 1, 2003
presented by KaiserNetwork.org
HIPAA: Are You Positioned to Meet the Next Milestones?
on September 30, 2003
presented by TIAA-CREF Institute
Newly Posted Conferences
(Post Yours!)
10th Annual Health & Benefits Expo
in NY
October 17, 2003
Teamster Center Services Fund
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