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October 14, 2003 - 8,548 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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“Complying With the Wage-Hour Requirements of the Service Contract Act” A 90-Minute Interactive Audio Conference – Thursday, October 23, 2003 * 2:00 p.m. Eastern Time During this 90-minute interactive presentation, employment law attorneys Dan Abrahams and Shlomo Katz will address the basic requirements of the SCA, to include: prevailing wages, fringe benefits, conformances, the Successor Contractor rule and price adjustments. They will also discuss how the SCA can/should affect contractors’ proposals to the government, and more. Register today!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Health Insurance Broker Pitches Income-Based Premiums; More Salary, Higher Premium
Excerpt: "Many of Jon Rauser's small-business clients have swallowed hefty increases in health insurance premiums the last several years. As a result, they've shifted a greater share of premiums to their employees. It's financially painful to all involved, but particularly to those workers at the lower end of the pay scale." (The Business Journal of Milwaukee via bizjournals.com; one-time registration required)
In California, Equal Benefits for Partners Are Mandated
Excerpt: "California will become the first state to require businesses with large state contracts to offer domestic partners the same benefits that spouses have, although the law will not take effect until 2007." (AP via New York Times; one-time registration required)
Fake Health Plans Leave Thousands In a Jam
Excerpt: "The old adage, 'If it sounds too good to be true, it probably is,' applies now more than ever when it comes to health insurance. That's because more people -- some unscrupulous, others just incompetent -- are selling something they call health insurance that really isn't." (Money.com)
Disease Management Efforts Could Save Blue Cross Blue Shield of Minnesota $50 Million
Excerpt: "The simple act of phoning patients with chronic diseases can save Blue Cross and Blue Shield of Minnesota almost $50 million over 18 months." (The [Minneapolis/St. Paul] Business Journal via bizjournals.com; one-time registration required)
California Supermarket Workers on Strike Over Health Benefits
Excerpt: "[A] supermarket strike at the three biggest grocery chains in Southern and Central California entered its third day on Monday evening.... Although the labor dispute is local, the strike has nationwide implications because it centers on the companies' desire to reduce health care costs by eliminating some benefits and requiring workers to pick up a greater share of the cost." (New York Times; one-time registration required)
Fistfights, Viewing Pornography Might Be Gross Misconduct for COBRA Purposes
Excerpt: "In this recent lawsuit, a federal district court in New York will rule whether an employer was justified in not offering COBRA election to a terminated employee based on the gross misconduct exception." (OnQue Technologies, Inc.)
$170 Million Aetna Settlement Near Completion on Doctors' Lawsuit
Excerpt: "A Miami federal judge is expected today to give final approval to a $170 million settlement of a racketeering lawsuit filed by 700,000 doctors across the country who claimed they were improperly denied payments and shortchanged by insurance giant Aetna." (AP via Sun-Sentinel.com)
Overview: Regulations on Court-Ordered Health Coverage for Federal Employees' Children
Excerpt: "The Office of Personnel Management (OPM) has issued interim regulations to implement the Federal Employees Health Benefits Children's Equity Act of 2000. Among other things, this statute requires the Federal Employees Health Benefits (FEHB) program to enroll a federal employee for 'self and family' coverage if the employee: (1) is subject to a court or administrative order that requires the employee to provide health benefits for his or her children; and (2) ..." (EBIA)
Payers, Pending Legislation Provide More Focus on Impact of DTC Ads on Drug Costs
Excerpt: "Direct-to-consumer (DTC) drug advertising is increasingly identified as a primary cost driver for the prescription drug benefit. And recently, many payers have become more vocal about the cost impact of DTC ads. Four California managed care organizations started up a generic drug initiative last month, largely to combat the impact of DTC ads." (Drug Cost Management Report via AISHealth.com)
Healthcare Quality Grades Can Be Matter of Life and Death
Excerpt: "The report cards, which draw upon a sample of patient records, are designed to measure how health plans and medical groups manage care. They track how patients rate their health plan and provide data on key performance measurements ..." (California HealthCare Foundation)
Overview: California Enacts "Pay or Play" Employer-Financed Health Care
Excerpt: "SB 2 permits an employer to receive a credit against the fee that it would otherwise pay to participate in the State pool by providing to the [Employment Development Department] proof that it covers eligible enrollees (and their dependents, if applicable) with one of the following types of coverage: ..." (Littler Mendelson)
Study: Fastest Increasing Group of Obese Americans Are People 100 or More Pounds Overweight
Excerpt: "The proportion of Americans with clinically severe obesity increased from 1 in 200 adults in 1986 to 1 in 50 adults in 2000--growing twice as fast as the proportion of Americans who are simply obese, according to a RAND Corporation study published [Oct. 13, 2003]." (RAND)
The (Agri)Cultural Contradictions of Obesity
Excerpt: "Sometimes even complicated social problems turn out to be simpler than they look. Take America's 'obesity epidemic,' arguably the most serious public-health problem facing the country." (New York Times; one-time registration required)
Fight Against Fat Shifts to the Workplace
Excerpt: "Across the country, companies, states and schools are taking more aggressive -- if perhaps passive-aggressive -- measures to get an increasingly overweight society to move more and eat less. The new methods go beyond putting gyms in office buildings or teaching children (or adults) the virtues of broccoli." (AP via New York Times; one-time registration required)
Almost All Large Employers Will Cover Over-The-Counter Drugs In Their FSAs
Nearly all large employers will allow their medical flexible spending accounts (FSAs) to reimburse employees for qualified over-the-counter (OTC) drugs, according to a poll conducted by the Washington Business Group on Health (WBGH). The WBGH represents 180 of the nation's largest public and private sector employers and is dedicated to identifying and implementing innovative solutions to the nation's most important health care issues. (Spencer Benefits Reports)
Links to Items on Executive Comp, Benefits in General
Text of Corrections to Final Golden Parachute Regulations (PDF)
1 page. (Internal Revenue Service)
Overview: IRS Finalizes Split-Dollar Regulations; Time for Action on Existing Arrangements (PDF)
2 pages. (Seyfarth Shaw LLP)
Changes Loom In Exec Pay
Excerpt: "The headlines of the bust have created momentum for expensing options; option backers are now fighting a losing battle against it.... Kirk Maldonado, an attorney with the Denver office of Sherman & Howard, believes companies will begin to have serious discussions about what exact goals they want to meet and how those goals will drive compensation." (Rocky Mountain News)
Audio Excerpt: CEO Pay Hikes Outpace Economic Gains
Excerpt: "Despite two years of corporate scandals and lackluster results, CEO pay continues to rise. A new survey shows overall compensation for top business executives rising by more than 5 percent this year, prompting many experts to call for more distance between CEOs and their boards. NPR's Jack Speer reports." (National Public Radio)
Who'll Sit at the Boomers' Desks?
Excerpt: "[T]he current level of unemployment, which has economists and politicians in a lather, is likely to be the real anomaly. Conditions in the late 90's may have been a reflection of job markets to come. And they are coming very quickly." (New York Times; one-time registration required)
Rising Stocks Give New Life To Old Options
Excerpt: "Stock option riches -- which fueled one of the biggest bursts of U.S. wealth ever -- are back. They're just not as big.... Brokers say employees aren't waiting for the value of their options to double or triple anymore." (USA Today)
Opinion: Unmarried America
Excerpt: "Say good-bye to the traditional family. Here's how the new demographics will change business and society.... As the reality of unmarried America sinks in, CEOs, politicians, and judges will be challenged to design benefits, structure taxes, and develop retirement models that more fairly match the changing population." (Business Week)
Newly Posted or Renewed Job Openings
Retirement Plan Administrator
for Fresno, CA TPA Firm
in CA
Benefits Manager
for Guardian Industries Corp.
in MI
Retirement Plan Specialist
for Diversified Investment Advisors
in MI
401(k) Administrator
for Caribbean Pension Consultants, Inc.
in FL
Employee Benefits Account Manager
for Corporate Benefit Advisors, Inc.
in NC
Newly Posted Webcasts
(Post Yours!)
Health FSAs and Over-the Counter Drugs
on October 21, 2003
presented by Employee Benefits Institute of America, LLC (EBIA)
Health FSAs and Over-the-Counter Drugs
on October 22, 2003
presented by Employee Benefits Institute of America, LLC (EBIA)
Newly Posted Conferences
(Post Yours!)
Negotiating 401(k) Plan Fees
in ALL STATES
November 10, 2003
IOMA
BUSY, BUSY, BUSY - SUMMER REGULATORY GUIDANCE FROM IRS, DOL, AND OTHERS
in AZ
October 16, 2003
Western Pension & Benefits Conference - Phoenix Chapter
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)
Loren Busby (Virtual Benefits Corporation)
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