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November 17, 2003 - 8,712 subscribers
Today's sponsor: EBIA's Tax Savings Calculator
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Lawmakers Reach Prescription Drug Deal
Excerpt: "Republican congressional leaders say they have sealed a tentative agreement on a new prescription drug benefit for the nation's seniors, which would be the largest expansion in Medicare's history." (AP via Washington Post)
Bush Endorses Tentative Medicare Deal
Excerpt: "President Bush on Sunday enthusiastically endorsed a tentative agreement on a new prescription drug benefit for older Americans. 'I will be actively pushing the bill' in the coming days to ensure passage, he said." (AP via Washington Post)
Democrats Cool to GOP's Medicare Drug Plan
Excerpt: "President Bush and congressional Republican leaders are selling their new Medicare prescription drug plan, but so far, not many Democrats are buying." (AP via Washington Post)
Medicare Deal Likely to Spark More Health Care Competition
Excerpt: "On Wall Street last week, drug stocks jumped as investors anticipated a congressional deal, finally announced in principle [Saturday] night, that would add a prescription drug benefit to the Medicare program." (AP via Washington Post)
Republican Medicare Plan Faces Challenges
Excerpt: "Republican leaders on Capitol Hill began to detail an agreement that would transform the government's compact with the 40 million Americans on Medicare, as they embarked yesterday with the White House on a campaign to sell their plan to a public and Congress that are divided on the issue." (Washington Times)
Audio Report: Democrats Fault Medicare Drug Benefit Deal
Excerpt: "The congressional debate over adding prescription drug coverage to Medicare reaches its final stages. House and Senate negotiators struck a tentative agreement this weekend on the $400 billion measure. But many Democrats oppose provisions that encourage competition between Medicare and private health plans. Hear NPR's Julie Rovner. (Nov. 17, 2003)" (National Public Radio)
AMA Strongly Supports Passage of Medicare Conference Report
Press release. Excerpt: "The American Medical Association [on Sunday, Nov. 16] announced its strong support for the Medicare prescription drug conference report and urged Congress to pass it before they adjourn." (American Medical Association)
Retiree Health Benefits at the Crossroads
Excerpt: "The situation may be approaching crisis levels. This article will briefly summarize the current state of retiree health benefits, explore the key funding alternatives and related tax rules applicable to such benefits, and review some of the most significant cases and legal theories regarding employers' right to modify or terminate such benefits." (Aon Consulting)
Milwaukee Area Governments Haven't Set Aside Money for Retiree Health Benefits
Excerpt: "Milwaukee's local governments face a fiscal time bomb, a spiraling bill for unpaid medical liabilities whose price tag is estimated at $2.1 billion to $2.9 billion. That's the projected cost of health insurance coverage guaranteed for current and future retirees who have been employed by the five major governments in Milwaukee." (Milwaukee Journal Sentinel)
Overview: Employees Can Exclude Reimbursements Substantiated Electronically
Excerpt: "An employee can exclude from income an employer's reimbursements of travel and entertainment (T&E) expenses that are substantiated with electronic receipts and expense reports, according to Rev. Rul. 2003-106, which the IRS issued on Oct. 20." (Thompson Publishing Group)
Overview: U.S. Supreme Court to Decide If Patients Can Sue Health Plans
Excerpt: "Doctors and patients argue that health plans that get involved with medical decision-making should, as a measure of last resort, have to answer for harmful decisions in state court. But health plans say the federal Employee Retirement Income Security Act of 1974 shields them from state lawsuits, which they believe would drive up already rising health care costs." (American Medical News)
The Excellent Healthcare Manager
Excerpt: "To further explore management issues in health care, Hospitals & Health Networks and the American Society for Healthcare Human Resources Administration convened a group of health care human resources executives and industry consultants May 1 in New York City. The closed-door discussion examined what makes an excellent manager, including key characteristics and training. It also examined how to identify excellent managers during the hiring process." (Aon Consulting)
Consumerism and the Brave New World of Health Benefits
Excerpt: "Consumer-directed health plans (CDHPs) and consumerism continue to evolve at a rapid pace. There are a number of related forward-thinking ideas that we see garnering employer's attention. These include: ..." (BenefitNews.com)
Low-Cost Drug Sales To U.S. Should Stop, Canadian Group Says
Excerpt: "A Canadian regulatory group recommended Friday that its government stop Canada's pharmacies from selling low-cost prescription drugs to U.S. consumers until both countries develop regulations to safeguard the activity." (The Philadelphia Inquirer)
Designing a Medicare Drug Discount Card: Implications for Medicare Beneficiaries and Plan Sponsors
Excerpt: "This report analyzes key issues surrounding the implementation of a Medicare-endorsed prescription drug discount card program. Medicare prescription drug discount cards have been proposed as a short-term strategy for lowering prescription drug costs for Medicare beneficiaries." (Kaiser Family Foundation)
For Middle Class, Health Insurance Becomes a Luxury
Excerpt: "The majority of the uninsured are neither poor by official standards nor unemployed. They are accountants like Mr. Thornton, employees of small businesses, civil servants, single working mothers and those working part time or on contract." (New York Times; one-time registration required)
California HMO Watchdog Agency Faces Big Reshuffle Under Schwarzenegger Administration
Excerpt: "More likely is that Gov.-elect Schwarzenegger, who takes office Monday, will appoint a business-friendly department head and spur some reorganization within the agency. This could give health plans, doctors and hospitals a chance to get some changes they've been asking for -- and possibly mean more involvement by the regulating agency in the state's healthcare delivery system." (Sacramento Business Journal via bizjournals.com; one-time registration required)
How Co-Workers Can Wreck Your Marriage
Excerpt: "While the Other Woman (or Man) is usually cast as the villain of divorce in our culture, a Swedish study finds the workplace, the environment where many Americans spend most of their weekday waking hours, can play a destructive role." (CareerJournal.com)
Links to Items on Executive Comp, Benefits in General
IRS Officials Discuss Executive Compensation Issues
Excerpt: "In a web-cast sponsored by TaxTalkToday, held on November 13, IRS officials met with a panel of private-sector tax practitioners to discuss current issues concerning executive compensation arrangements." (CCH Tax News - http://tax.cchgroup.com/news/default)
More Consumers Reach Out to Touch the Screen
Excerpt: "A new generation of self-service machines is slipping into the daily lives of many Americans. Rejected for decades as too complicated, the machines are being embraced by a public whose faith in technology has grown as its satisfaction with more traditional forms of customer service has diminished." (New York Daily News)
Courts Making the Most Out of Benefit Statements
Excerpt: "It wouldn't be practical for plan administrators to regard the sending of benefit statements as bona fide tools for plan administration, yet it often happens that a court will look carefully at those estimates when determining a plan's actual benefit obligations." (BenefitNews.com)
Riled-Up Retirees: Growing Force Fights Threat to Pensions
Excerpt: "The [National Retiree Legislative Network] was formed three years ago when retiree groups from several large companies joined forces to voice their rising concerns about losses of benefits. Now its membership is approaching 2 million, most of them members of affiliated associations representing retirees from about 20 large corporations." ([St. Paul] Pioneer Press)
Newly Posted or Renewed Job Openings
ERISA Attorney
for Marvel Consultants, Inc.
in OH
Relationship Manager/Sales Support
for Transamerica Retirement Services
in NJ
Work from Home or Office QPA
for Assume administrative responsibilities for small book of business
in CA, NV, OR, WA
Newly Posted Events
Expecting Workers to Come to Work -- Are Employers Asking Too Much?
Nationwide on December 9, 2003
presented by Thompson Publishing Group, Inc.
Payroll Taxes for Benefits Managers: Developments & Year-End Issues
Nationwide on December 11, 2003
presented by Thompson Publishing Group, Inc.
Retire@Ease: Helping employees prepare for a successful retirement
Nationwide on December 1, 2003
presented by Mercer Human Resource Consulting
U.S. Retirement Plan Governance
Nationwide on August 7, 2003
presented by Mercer Human Resource Consulting
FASB's Proposed Retirement Plan Disclosure Rules
Nationwide on November 17, 2003
presented by Mercer Human Resource Consulting
EGTRRA: Implementing & Interpreting the Law
Nationwide on July 12, 2002
presented by National Association of Government Defined Contribution Administrators, Inc. (NAGDCA)
Winter Legislative Conference
in District of Columbia on February 8, 2004
presented by National Association of State Retirement Administrators (NASRA)
Newly Posted Press Releases
(Post Yours!)
Older Workers Score Pension Victory
(Pension Rights Center)
Xerox Announces Proposed Settlement for Pension Lawsuit
(The Xerox Corporation)
GoldK® Reaches Milestone With 25th New TPA Partner
(GoldK, Inc.)
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