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December 3, 2003 - 8,712 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
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Payroll Tax Developments & Year-End Issues for Benefits Managers An Interactive Audio Conference, December 11, 2003, 2:00 – 3:30 p.m. ET The end of the year is approaching which means that soon it will be time to report on 2003! During this audio conference, attorneys Jerry Holmes, Janine Cook, and David Fuller of the international law firm of McDermott, Will & Emery will address the issues, new trends and end-of-year strategies payroll managers, controllers, and corporate financial department personnel should be aware of in the weeks to come.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
How Health Savings Accounts Compare To FSAs and HRAs
Excerpt: "Health Savings Accounts ('HSAs'), which are part of the 'Medicare pr*scription Drug, Improvement and Modernization Act of 2003,' are expected to be available for use by eligible individuals on January 1, 2004. The attached chart illustrates how HSAs compare to Health Flexible Spending Arrangements (FSAs) and Health Reimbursement Arrangements (HRAs), two arrangements with favorable tax features which are similar in purpose to HSAs." (Groom Law Group)
2004 Segal Health Plan Cost Trend Survey (PDF)
8 pages. Excerpt: "The cost of medical plans is projected to increase at a slightly lower rate in 2004 than in 2003 for all coverage types surveyed except preferred provider organizations.... As it has for the last several years, the cost of pr*scription drug coverage is expected to exceed other coverage increases. Trend rates of nearly 18 percent are forecasted for 2004." (The Segal Company)
How Long Will Payers Accept Claims That Aren't HIPAA-Compliant?
Excerpt: "[M]ajor payers have been accepting claims in the legacy formats (non-HIPAA-compliant) since the October 16, 2003 compliance date took effect ... On the basis of the July 24, 2003 guidance issued by the federal Centers for Medicare and Medicaid Services (CMS), most payers expect to continue these contingency plans for accepting legacy claims while they assist and encourage providers in making the transition to HIPAA-compliant transactions." (Medscape Money & Medicine; one-time registration required)
Institute of Medicine: Universal Patient IDs Needed
Excerpt: "Although mandated by law since 1996, Congress several years ago tabled development of a national patient identification system. But a committee of the Institute of Medicine is urging legislators to revisit the issue." (Health Data Management)
California Supreme Court To Begin Hearing Arguments on Contraceptive Coverage Mandate
Excerpt: "The California Supreme Court on Tuesday will begin hearing oral arguments in San Jose in a case challenging a state law enacted in 2000 that requires some state employers, including some Roman Catholic charities, to offer contraception coverage to women, the San Francisco Chronicle reports ..." (California Healthline; one-time registration required)
Are Health & Productivity Programs Right for Your Company? (PDF)
Excerpt: "What are health and productivity (H&P) programs? Why are more and more organizations turning to this approach? Why is integrating certain programs good for business? How are substantial savings and corresponding return on investment (ROI) uncovered and realized? How do H&P programs increase shareholder value? Let's find out." (Strategic Finance)
New CDC Data Give Snapshot of Local Health Picture
Originally published 11/21/03. Excerpt: "A new tool that will allow local communities to track their health status is now available, according to an announcement here at the American Public Health Association (APHA) 131st annual meeting by officials from the U.S. Centers for Disease Control and Prevention (CDC)." (Medscape Medical News; one-time registration required)
When pr*scription Blues Put Your Patient in the Red
Excerpt: "It is important for health care providers to become familiar with programs that offset out-of-pocket costs for many patients' medications. By completing a few simple forms, patients can gain access to medications that are discounted or even free.... [S]earch the Internet for contact information and downloadable forms. Maintain a file for each drug company, storing the most current assistance applications." (Clinician News via Medscape; one-time registration required)
Taking Advantage of DOL Guidance to Identify and Correct Health Plan Compliance Violations (PDF)
4 pages. Excerpt: "The Employee Benefit Security Administration (EBSA) of the [DOL] has recently reinvigorated its enforcement efforts, auditing many group health plans for compliance with the following laws: HIPAA's portability and nondiscrimination requirements, the Newborns' and Mothers' Health Protection Act (NMHPA), the Mental Health Parity Act (MHPA) and the Women's Health and Cancer Rights Act (WHCRA). An EBSA initiative launched in 2003 focuses on multiemployer plan compliance." (The Segal Company)
Measure To Repeal California Mandatory Healthcare Coverage Law May Appear on March Ballot
Excerpt: "Californians Against Government Run Healthcare, a coalition of business groups led by the California Chamber of Commerce, on Monday announced that it has collected more than 620,000 signatures to place a referendum on the March 2004 statewide ballot to repeal a law (SB 2) that would require some employers to provide health coverage to workers or pay into a state fund that would provide such coverage, the San Francisco Chronicle reports." (California Healthline; one-time registration required)
Medicare Drug Plan Could Spawn Price Controls
Excerpt: "Drugmakers may have dodged price controls under the new Medicare bill, but controls may creep in over the next decade as millions of baby boomers retire and demand more-affordable medicines.... [S]enior groups will demand that the bill be revised as early as next year, analysts said." (Reuters via Medscape; one-time registration required)
Compliance Lags With HIPAA Rules
As many as 27% of organizations have yet to become compliant with the HIPAA privacy rules, according to the Phoenix Health Systems Fall 2003 HIPAA Survey. Conducted during the two weeks prior to the Transactions and Code Sets (TCS) compliance deadline of Oct. 16, 2003, the survey asked questions about compliance with HIPAA's privacy, transactions, and security rules. (Spencer Benefits Reports)
Newly Posted Events
Wrapping Up 2003 and What to Expect in 2004
Nationwide on December 16, 2003
presented by !Trak-It Solutions
New HSAs in Medicare Act Boost CDHC for All Employers
Nationwide on December 18, 2003
presented by Thompson Publishing Group
Practical Tips & Strategies for Managing an Employee on FMLA Leave -- An Interactive Audio Conference
Nationwide on December 17, 2003
presented by Thompson Publishing Group
Newly Posted Press Releases
Deloitte News Release: Year-End Tax Planning Guide
(Deloitte)
SunGard Corbel Introduces Signature Ready 5500s with Relius Government Forms 5500 Enterprise and Omni Enterprise
(SunGard Corbel)
Torrid Provides Financial Planning Software to Pacific Life
(Torrid Technologies)
Pyramid Appoints Jim O’Neill as Chief Technology Officer
(Pyramid Digital Solutions)
Gilsbar, Inc. Selected to Provide Health Plan Administration Services for Lady of the Sea General Hospital
(Gilsbar, Inc.)
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)
Kenneth Seropian (Sentinel Benefits)
Ryan Campagna (Sentinel Benefits)
Jeffrey Bernier (Sentinel Benefits)
Newly Posted or Renewed Job Openings
Pensions/401(k) ERISA Compliance Specialist
for Pension Careers, Inc.
in NJ
Manager, Health and Insurance Benefit Plans
for Confidential search conducted by recruitingmanager.com, Inc.
in CA
Defined Contribution Processor
for The Newport Group of North Carolina
in NC
401(k) Plan Administrator
for The Newport Group of North Carolina
in NC
Senior Retirement Plan Administrator
for Papalia Financial Services, Inc.
in PA
Benefit Consultant
for BISYS Retirement Services
in PA
Compliance Administrator
for BISYS Retirement Services
in PA
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