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October 22, 2003 - 8,609 subscribers
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Arguments Snag Medicare Negotiations
Excerpt: "Negotiations on a compromise Medicare prescription drug bill suffered a double-barreled setback Tuesday when Republican committee chairmen clashed in closed session while Democrats raised strong objections to the main GOP proposals for holding down costs." (AP via Las Vegas Sun)
Opinion: a Dose of Reform
Excerpt: "Why should low-income families pay 75 percent of the bill for Ross Perot to have a checkup? Under our proposal, 98 percent of seniors would continue to pay only 25 percent of their Part B premium, as they would under current law. Those individuals who earn more than $100,000 per year and couples who earn more than $200,000 per year would be asked to pay more, based on income and phased in over time." (Dianne Feinstein and Don Nickles in the Washington Post)
Update: GASB's Other Postemployment Benefits Project (PDF)
4 pages; 10/10/03. Excerpt: "The GASB's primary proposed change would require that the long-term cost of retiree health care and other OPEBs be determined on an accrual basis using actuarial methods and assumptions applied in essentially the same way as applied to state and local pension plans. An actuarial valuation would determine the 'annual required contribution' (ARC) associated with the benefit promise, as well as the accrued liability, value of assets, and other related information." (Gabriel, Roeder, Smith & Company)
Becker Calls on Congress, Justices to Fix ERISA
Excerpt: "As 3rd Circuit Judge Edward R. Becker sees it, perfectly valid lawsuits against HMOs are routinely being tossed out of court due to the unfairness of the pre-emption provisions in ERISA, and either Congress or the U.S. Supreme Court had better do something about it soon." (The Legal Intelligencer via Yahoo! Finance)
Revenue Procedure Updates Substantiation Rules for Employees on Per Diem Allowance (PDF)
19 pages. Excerpt: "Use of a method described in this revenue procedure is not mandatory, and a taxpayer may use actual allowable expenses if the taxpayer maintains adequate records or other sufficient evidence for proper substantiation." (Internal Revenue Service)
Consumer-Directed Health Retirement Accounts Could Help Active Workers Build Health Care Nest Eggs
Excerpt: "In the latest twist to consumer-directed health (CDH) plans, employees would funnel accrued health reimbursement arrangement (HRA) dollars into special accounts that could be used to cover premiums and other expenses in retirement." (Inside Consumer-Directed Care via AISHealth.com)
Health Insurers Develop Formulary Policies for Xolair, but Enrollees' Use Is Restricted
Excerpt: "The new injectable drug Xolair has received widespread praise for its ability to stop asthma attacks before they start.... [A] surprising number of health insurers already have said they'll cover the drug. But the coverage restrictions they've enacted could severely limit utilization, offering an illustration of how payers handle coverage procedures for very expensive specialty drugs." (Managed Care Week via AISHealth.com)
Fewer Employees Have Health Insurance at Large Companies
Excerpt: "The percentage of uninsured workers in firms with 500 or more employees grew from 7% to 11% from 1987 to 2001, says a report released Tuesday by the Commonwealth Fund, a private foundation in Washington." (USA Today)
Full Text of Report: Number of Uninsured in Large Firms Up Sharply
Excerpt: "Thirty-two percent of workers lacking health coverage in 2001 were employed by large firms, up from 25% in 1987, a new Commonwealth Fund report finds.... The report, The Growing Share of Uninsured Workers Employed by Large Firms, was coauthored by Sherry Glied, Ph.D., and Sarah Little of Columbia University and Jeanne Lambrew, Ph.D., of George Washington University." (The Commonwealth Fund)
Workers Feel Pinch of Rising Health Costs
Excerpt: "As health care costs head into a fourth consecutive year of double-digit increases, employers are shifting a growing share of the burden onto people who make the heaviest use of medical services. The trend ... takes the form of fast-rising co-payments and deductibles, higher payroll deductions to cover spouses and children and new kinds of health plans that give workers a fixed sum to spend." (New York Times; one-time registration required)
As Health Care Costs Rise, Workers Help Shoulder Burden
Excerpt: "On the picket lines and at the bargaining table, health care has emerged as the top concern, replacing wages and job security." (USA Today)
Hawaii's Uninsured Population Grows
Excerpt: "Hawaii, once held up as a model for its near-universal health coverage with uninsured rates as low as 2 percent, is edging closer to the national average." (AP via Washington Post)
Links to Items on Executive Comp, Benefits in General
Opinion: Microsoft Option Offer Is No Deal for Employees
Excerpt: "With a few exceptions, the offer Microsoft Corp. and J.P. Morgan Chase & Co. are making to Microsoft employees with under-water stock options is very likely no deal at all -- at least not for the employees." (Graef Crystal on Bloomberg.com)
Newly Posted or Renewed Job Openings
Benefits Case Manager
for Pension Professionals of America LLC
in AZ
ERISA Pension Analyst / Paralegal / Plan Administrator
for Retirement Plan Administration and ERISA Specialists
in IL
Newly Posted Conferences
(Post Yours!)
Mountain States Benefits Conference
in CO
September 13, 2004
ASPA
Los Angeles Benefits Conference
in CA
January 29, 2004
ASPA & IRS
IRS/ASPA Great Lakes Area Benefits Conference
in IL
April 29, 2004
ASPA & IRS
Newly Posted Press Releases
(Post Yours!)
Benefit Software Provides Personalized Employee Benefit Statement Service for City of Arcadia California
(Benefit Software Inc.)
Benefit Advisors Network Adds Pharmacy Director
(Benefit Advisors Network)
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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