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December 4, 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)
House and Senate Extend Mental Health Parity (PDF)
At p. 1. Excerpt: "[T]he Senate passed S. 1929 by unanimous consent while the House passed its version last week. The bills extend mental health parity provisions of The Mental Health Parity Act of 1996 for an additional year." (Jenkens & Gilchrist)
Out-of-Pocket Costs Affect Sicker, Low-Income Workers More, Study Says
Excerpt: "Increases in patient cost sharing affect people with serious illnesses and low incomes the most, according to a Center for Studying Health System Change study released Wednesday." (KaiserNetwork.org)
Higher Copayments for Pr*scription Drugs Lead Some People To Forego Medicines, Study Says
Excerpt: "Employees whose pr*scription drug copayments are increased under a tiered system in employer-sponsored health insurance plans may stop filling some of their pr*scriptions, according to a study published Thursday in the New England Journal of Medicine, the Boston Herald reports ..." (KaiserNetwork.org)
Form 1099 Reporting Requirements Do Not Apply to Provider Payments Made Through Health FSAs and HRAs
Excerpt: "EBIA Comment: The Form 1099 reporting issue was the proverbial 'fly in the ointment' for debit/credit card transactions under health FSAs and HRAs--the removal of this obstacle will make the use of debit/credit cards more attractive to employers." (EBIA)
Overview: Health Savings Accounts Created by Medicare Legislation
Excerpt: "EBIA Comment: HSAs are much like IRAs and Archer MSAs. An eligible individual can have an HSA without any employer involvement (so long as the individual is covered by an HDHP and meets other requirements). But we expect that some employers will be interested in integrating HSAs into their benefits mix, especially since HSAs can be offered under a cafeteria plan." (EBIA)
DOL's New Disclosure Guide Includes COBRA Information
Excerpt: "Seven of the documents covered by the new guide are of special interest to COBRA administrators: The Initial COBRA Notice (to be renamed the General Notice); The COBRA Election Notice; The Summary Plan Description; The Summary of Material Modification; The Certificate of Creditable Coverage; The Medical Child Support Order; [and] The National Medical Support Notice." (OnQue Technologies, Inc.)
Plaintiffs Had No Cause of Action Where ERISA Provided a Separate, Adequate Remedy
Plaintiffs challenging a denial of health care benefits had no cause of action under ERISA Sec. 502(a)(3) where another section of ERISA provided an adequate remedy. This was the decision of the Eleventh Circuit U.S. Court of Appeals in Ogden v. Blue Bell Creameries U.S.A., Inc. (No. 02-16733). (Spencer Benefits Reports)
Patient Cost Sharing: How Much is Too Much?
Excerpt: "A new Center for Studying Health System Change (HSC) study examines how increased patient cost sharing through higher deductibles, copayments and coinsurance raises patients' out-of-pocket costs. Increased patient cost sharing creates more financial burdens for seriously ill and low-income workers. Concerns about financial hardships for seriously ill and low-income workers may limit employers' ability to slow rising premiums through increased patient cost sharing." (Center for Studying Health System Change)
Contraceptive Equity Laws In Your State: a Consumer Guide (PDF)
43 pages. (National Women's Law Center)
Consumer-Directed Plans Pioneer Strategies for Pharmacy Benefit
10/10/03. Excerpt: "Most CDH plans have an integrated pharmacy benefit, and as elsewhere in managed care, the drug benefit is a focal point for cost control. There are many different models for integrating the pharmacy benefit into CDH plans." (AISHealth.com)
Universal Health Care Ballot Initiative Filed With Massachusetts Secretary of State
Excerpt: "Supporters of a measure that would amend the Massachusetts constitution to ensure that state residents have health insurance on Wednesday submitted to the secretary of state the 65,825 signatures required to place the proposal on the statewide ballot, the Boston Herald reports ..." (KaiserNetwork.org)
Links to Items on Executive Comp, Benefits in General
Benefit Cuts Anger Teamsters; Many at UPS Affected
Excerpt: "The Central States division will drop the long-cherished pension policy that allowed members to retire after 25 or 30 years with guaranteed benefits, regardless of age. Sharp increases in out-of-pocket costs for health benefits for new retirees younger than 62 will also make early retirement unaffordable, say critics of the benefit cuts." (The [Louisville, KY] Courier-Journal)
How Employee Stock Options Can Influence the Value of Ordinary Shares
Excerpt: "What effect do options have on the number of stock shares a company has in circulation? The answer can make a big difference when a company computes its earnings per share, and when investors calculate the critical price-to-earnings ratio." (Wharton School of the University of Pennsylvania)
Newly Posted Events
Wrapping Up 2003 and What to Expect in 2004
Nationwide on December 16, 2003
presented by Retirement Capital Group
Newly Posted Press Releases
CDs and Handouts Available for Distance Learning Seminars
(IFEBP (International Foundation of Employee Benefit Plans))
Funding Issues Still a Major Concern for Many Pension Funds
(IFEBP (International Foundation of Employee Benefit Plans))
Are You Effectively Measuring Your Disease Management Program?
(IFEBP (International Foundation of Employee Benefit Plans))
Empliant Offers Free 90-day Online Survey Trial
(Empliant, Inc.)
ClaimsFusion Launches ClaimsFusion (Cardless) Transaction Settlement System
(ClaimsFusion LLC)
Newly Posted or Renewed Job Openings
Retirement Plan Administrator
for InWest Pension Management, Inc.
in TX
Director, Benefits Administration
for Mount Carmel Health
in OH
Business Analyst (27327BR)
for Cigna
in IA
Retirement Plan Conversion Consultant
for Wachovia Corporation
in MN, NC
Inst Trust Sales Associate
for BB&T (Branch Banking & Trust Co.)
in GA
Actuary
for The Angell Pension Group, Inc.
in RI
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