| BenefitsLink Welfare Plans Newsletter |   |
December 12, 2003 - 8,712 subscribers
Today's sponsor: Thompson Publishing Group, Inc.
(Click on company name or banner to learn more.)
New HSAs in Medicare Act Boost CDHC for All Employers: An Interactive Audio Conference, December 18, 2003, 2:00 - 3:30 p.m. ET President Bush has signed legislation that will re-vamp Medicare, including prescription drug coverage and offer all Americans - retirees AND active employees - new "health savings accounts" (HSA) available alongside high-deductible health plans. What are the requirements for the new HSAs? How will the new law affect consumer driven health care options? Will this new law make medical savings accounts (MSA) and health retirement accounts (HRA) obsolete? How can you integrate these accounts with your current health care plan? Get expert answers to these questions as well as your own specific ones at this timely audio conference!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Tracking Health Care Costs: Trends Slow in First Half of 2003
Excerpt: "Health care spending growth per privately insured American slowed in the first half of 2003, increasing 8.5 percent, a significant drop from the 10 percent increase in the second half of 2002." (Center for Studying Health System Change)
FASB Issues Staff Position, Requests Comments on Accounting for Medicare Bill's Drug Subsidies (PDF)
4 pages. Excerpt: "Questions have arisen regarding whether an employer that provides postretirement pr*scription drug coverage (a plan) should recognize the effects of the Act on its accumulated postretirement benefit obligation (APBO) and net postretirement benefit costs and, if so, when and how those effects should be accounted for." (Financial Accounting Standards Board)
Key Provisions of the New Medicare Pr*scription Drug Benefit
Excerpt: "[T]he bill has far-reaching implications for both the Medicare program and health plans that coordinate with Medicare. A Medicare change of this magnitude will have an important impact on the design of employer-paid health plans, both for retirees and active workers." (The Segal Company)
Overview of the New Medicare Law (PDF)
12 pages. Excerpt: "This Special Report to Clients provides an overview of the key provisions of the legislation that will affect Medicare beneficiaries, employers and employees." (Hewitt)
The Value of Absence Management to Employers and Employees (PDF)
6 pages. Excerpt: "In an era of constant belt tightening, it is important for employers to focus on paid time away from work, traditionally the highest component of payroll after wages and salaries. Unscheduled absenteeism, in particular, is a significant expense. Another area of concern is the cost associated with employees on disability leave." (The Segal Company)
States Hear Pitch for Canadian Medication
Excerpt: "About a dozen states said Thursday they are exploring ways to buy cheap pr*scription drugs from Canada and make them widely available to Americans, even though importing the medicines is illegal. Representatives from the states met with five Canadian drug companies at an Atlanta hotel Thursday to hear their pitch on how to sell the drugs safely and within the law." (AP via Yahoo! News)
Quick Guide to Pending Federal Legislation on Health and Welfare Plans (PDF)
6 pages; 12/9/03. (Hewitt)
Wisconsin Governor Signs Bill Allowing Health Insurance Purchasing Pools for Farmers, Self-Employed
Excerpt: "Wisconsin Gov. Jim Doyle (D) signed a bill (SB 204) into law on Thursday that will create five regional health insurance purchasing cooperatives with the ability to pool farmers, self-employed workers and small business owners to negotiate directly with health insurance companies and bargain for cheaper coverage rates, the AP/New York Times reports." (KaiserNetwork.org)
Links to Items on Executive Comp, Benefits in General
Quick Guide to Pending Federal Legislation on Human Resources and Employment Law (PDF)
2 pages; 12/9/03. (Hewitt)
Health Savings Accounts, Proposed Lifetime Savings Accounts Stir Debate
Excerpt: "[A]n escalation of tax-advantaged savings accounts in the new Medicare bill, plus the Bush administration's plan to create a new variety next year, is raising questions about the accounts' fairness to low-income people and their potential to expand the federal deficit." (The Atlanta Journal-Constitution)
Microsoft Workers Can Cash in Options
Excerpt: "A Microsoft Corp. program allowing workers turn in their largely worthless stock options will result in payouts of $382 million over the next three years, the company said Thursday." (AP via [Minneapolis] StarTribune.com)
Benefits Were 28.5% of Total Compensation In September 2003
Employer-provided benefits costs for civilian workers in private industry and state and local governments in September 2003 averaged $6.97 per hour worked, accounting for 28.5% of total compensation costs, which averaged $24.48 per hour worked. These are among the findings of the most recent Employer Costs for Employee Compensation report, produced quarterly by the Bureau of Labor Statistics (BLS). (Spencer Benefits Reports)
Newly Posted Events
What The New Medicare Legislation Means To Plan Sponsors
Nationwide on December 1, 2003
presented by Hewitt Associates LLC
Basics Of Employee Health & Welfare Benefits
in Massachusetts on April 8, 2004
presented by New England Employee Benefits Council
"How To" Series: FMLA And Integrated Disability Management
in Massachusetts on February 11, 2004
presented by New England Employee Benefits Council
"How To" Series: Form 5500...And Beyond
in Massachusetts on May 6, 2004
presented by New England Employee Benefits Council
"How To" Series: COBRA
in Massachusetts on August 12, 2003
presented by New England Employee Benefits Council
Sixth Annual "Best Practices" Conference
in Massachusetts on December 2, 2004
presented by New England Employee Benefits Council
Newly Posted Press Releases
SHRM/CNNfn Job Satisfaction Survey Says More Employees Satisfied with Benefits at Large Organizations Versus Small
(Society for Human Resource Management (SHRM))
HR Professionals See More Employees Struggle with Elder Care
(Society for Human Resource Management (SHRM))
AAHP-HIAA Launches Web Site to Improve Medication Use
(American Association of Health Plans-Health Insurance Association of America (AAHP-HIAA))
Newly Posted or Renewed Job Openings
ERISA Specialist
for ExpertPlan, Inc.
in NJ
Employee Benefits (EB) Field Wholesaler (03-0029239)
for Wachovia Corporation
in NC
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
Copyright 2003 BenefitsLink.com, Inc.; except that you can forward this email in full (including this boilerplate part) or otherwise reprint this email in full (including this boilerplate part) without obtaining our permission.
Published by:
BenefitsLink.com, Inc.
https://benefitslink.com/about.html
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
Editor and Publisher: David Rhett Baker, J.D.
Housekeeping: