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November 13, 2003 - 8,649 subscribers
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Learn About Retirement Planning Opportunities & Challenges Facing the Tax-Exempt Employer An Interactive Audio Conference, November 18, 2003, 2:00 – 3:30 p.m. ET Recent changes in the law and regulations now give tax-exempt employers new opportunities to maximize retirement benefits for their employees. Learn from an expert in the field how to design a program that complies with the new requirements while also obtaining the most benefits for your employees. Register today and get the chance to ask your own specific questions!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Medicare Drug Benefit In 2003 Is Still Alive As AARP Presses On
Excerpt: "The Medicare prescription drug bill stuck in Congress is like a patient in a trauma center: Every report that its condition is improving is followed by another report that it is still on life support. One reason the plug hasn't been pulled-- despite the benefit's immense cost and political complexity-- is that it is the prize patient of one of Washington's most powerful lobbying groups: AARP." (Investor's Business Daily via Yahoo! News)
House Committee Chair Offers Medicare Concession
Excerpt: "Hoping to avoid an impasse over plans to redesign Medicare, a key lawmaker has offered what Republicans call a major concession on whether the government-run insurance program should be required to compete with new private health plans for elderly patients." (Washington Post)
AARP Actions Undermine Health Security for Seniors, American Benefits Council Says
Press release. Excerpt: "'Now, apparently facing the prospect that AARP may get little of its own agenda as part of final Medicare deal, AARP is once again appealing to Congressional leaders to not accept the fix to the Erie County court decision, so that it can represent to its members that it 'won' an issue. What a cruel hoax on the AARP membership,' [American Benefits Council president James A.] Klein said." (American Benefits Council)
ERISA Industry Committee Disputes AARP Contention About Effect of ADEA Provision in Medicare Bill
Excerpt: "The ERISA Industry Committee (ERIC) warned Congress in a letter that stripping out Section 631 (the Erie County provision) in the Senate Medicare Reform Bill (S.1) and failing to include it in the final Medicare conference agreement would lead to the reduction or elimination of health coverage for pre-Medicare retirees. Opponents of the provision, led by the AARP, falsely assert that keeping the provision intact would allow employers to drop coverage for Medicare eligible retirees." (ERISA Industry Committee (ERIC))
Supreme Court Begin Hearing Reverse Age Discrimination Case
Excerpt: "The U.S. Supreme Court will begin hearing arguments [on Wednesday, November 12] in a case brought by younger workers claiming that taking away their post-retirement benefits while allowing older workers to retain them was discriminatory." (PLANSPONSOR.com; one-time registration required)
Overview: Claim Against HMO for Interfering with Doctor's Orders Was Preempted by ERISA
Excerpt: "A state law claim against an HMO brought by a plan participant alleging negligent interference with medical care included aspects of both treatment and coverage was completely preempted by ERISA because the underlying claim could have been brought under ERISA, according to the U.S. Court of Appeals in Philadelphia (CA-3)." (CCH News & Information Library)
Canadians Warn of Prescription Drug Shortage If American State Governments Queue Up
Excerpt: "Canada could run out of prescription drugs if Illinois' plan to buy medication there encourages other states seeking cheaper prescriptions, pharmacists from that country warned Wednesday." (Chicago Sun-Times)
Wall Street Journal Examines Rationing of Care in Canadian Healthcare System
Excerpt: "In the sixth part of a series on rationing health care, the Wall Street Journal on Wednesday examined Canada's universal health care system, which offers free, equal-access care to all its citizens and 'explicitly ration[s]' medical resources." (KaiserNetwork.org)
85 Million Americans Had No Health Insurance At Some Point During Four Year Period Studied
Excerpt: "Nearly two of five (38%) Americans under age 65, and more than two-thirds (68%) of those with low incomes, had no health insurance at some point during 1996-1999, according to a new analysis for The Commonwealth Fund of a survey that tracks coverage over time." (The Commonwealth Fund)
In Nashville, Speakers Illustrate Struggle To Alter Health Care
Excerpt: "Former House Speaker Newt Gingrich yesterday offered a vision for a transformed health-care system that makes patients safer, prizes innovation and rewards participants for addressing-- rather than taking advantage of -- their industry's glaring inefficiencies. Then U.S. Rep. Jim Cooper, D-Tenn., took the stage and reminded everyone just how hard it is to bring about any sort of transformation in today's politically charged health-care environment." (The [Nashville] Tennessean)
Communication Is Crucial For Effective COBRA Administration
Excerpt: "A breakdown of communication anywhere in the process of administering COBRA benefits can, and often does, result in penalties and litigation. This COBRA Tip explores the most common requirements for communication of COBRA rights and obligations." (OnQue Technologies, Inc.)
Links to Items on Executive Comp, Benefits in General
Still No Deal Between Clerks, Grocers in Southern California
Excerpt: "Negotiators for grocery clerks and supermarket chains ended three days of closed-door talks without reaching an agreement to end a month-long dispute that has idled 70,000 Southern California workers." (AP via Yahoo! News)
The Long-Term Outlook for Stock Option Plans
Excerpt: "Originally broadcast on November 12, 2003. During this teleconference, participants learned about recent dynamic trends in long-term incentive plan design. If you are interested in receiving a free CD, PDF, or audiocassette of this Hewitt teleconference, please use this online order form." (Hewitt Associates)
Senator Urges Caution on Stock Option Accounting Reform
Excerpt: "The head of the group that writes the nation's accounting rules was told during a Senate hearing yesterday that proposed updates could hurt small businesses and, in turn, imperil economic recovery.... Sen. Mike Enzi (R-Wyo.) told Robert H. Herz, chairman of the Financial Accounting Standards Board ... 'It seems you spend five times as much time speaking as you do listening.'" (Washington Post)
Newly Posted or Renewed Job Openings
Actuarial Benefit Consultant
for Fidelity Employer Service Company
in MA
Senior Employee Benefits Consultant - Las Vegas Office
for Marsh Risk & Insurance Services
in NV
Account Manager
for Andreini and Company (65th largest insurance agency in the U.S.)
in CA
Actuarial Analyst
for RSM McGladrey, Inc.
in IL
Newly Posted Events
Creating New Health Care Behaviors Among Employees
Nationwide on November 19, 2003
presented by Hewitt Associates LLC
The Tower of Benefit Misery
in Florida on November 2, 2003
presented by Florida West Coast Employee Benefits Council
Handy Links:
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- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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