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January 20, 2004 - 8,783 subscribers
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More on Health Savings Accounts and Medicare Pr*scription Drug Benefit from ABA Audio Conference
Excerpt: "If an employer sponsored a retiree pay-all drug plan, the employer could still receive the 28 percent subsidy, if the plan were actuarially equivalent to Medicare Part D, but it would seem impossible that a retiree pay-all plan could be actuarially equivalent to Part D. [It also seems impossible that a retiree would participate in such a plan once Part D is available!]" (Deloitte's Human Capital Advisory Services)
Opinion: Pr*scription Drug Law's Details Released; Worst Fears Confirmed re Employer Subsidy
Excerpt: "It was generally known the drug bill would provide an employer reimbursement for 28 percent of the drug costs spent for retirees insurance plans, up to $1,330 per employee. What the midnight language added was that the subsidy would be calculated on the basis of both the employer and employee health insurance premium contribution. Get it? The employer can shift the premium costs to the employee and still receive the whole subsidy for itself -- quite a deal." (Donald Devine in the Washington Times)
Overview: New Tax Subsidy for Retiree Pr*scription Drug Coverage Starting in 2006
Excerpt: "The tax subsidy, first available beginning January 1, 2006, will be 28% of the costs actually paid by the employer between $250 and $5,000 on behalf of each retiree who would otherwise be eligible for the new Medicare Part D pr*scription drug plan." (Faegre & Benson LLP)
Overview of New Health Savings Accounts (PDF)
7 pages. (Mellon's Human Resources & Investor Solutions)
Bush State-of-Union Address to Focus on Healthcare
Excerpt: "President Bush intends to use his State of the Union address on Tuesday to set out a multipart approach to helping Americans deal with rising health care costs, including a possible expansion of tax-free savings accounts for medical expenses, people briefed by the White House said on Monday." (New York Times; one-time registration required)
Broader Health Coverage May Depend on Less
Excerpt: "With the number of uninsured Americans rising to new heights, some policy makers and influential health care experts are saying that the best way to give health coverage to more people is to give some people less." (New York Times; one-time registration required)
Addressing Employee Benefit Cost and Control Issues - the Case for Coalition Purchasing
Excerpt: "The growing ability of benefit costs to directly affect the bottom-line has caught the attention of those charged with corporate stewardship, rapidly pushing the management of employee benefit programs to the level of core business strategy. In this article, we discuss the widespread application and advantages of purchasing coalitions." (Aon Consulting)
AARP to Focus on Reducing Pr*scription Drug Prices
Excerpt: "AARP is launching an all-out effort to make pr*scription drugs more affordable with an aggressive, fully integrated advocacy and education campaign in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. It will reach from consumers to the courts to Congress." (AARP)
Does It Pay to Manage Your Own Healthcare?
Excerpt: "By making employees active participants in managing their own care, they will spend more cautiously, and medical costs will naturally come down. At least that's the theory." (New York Times; one-time registration required)
Increasing Health Insurance Costs Forcing Employers To Make Tough Choices
Excerpt: "Employer-sponsored benefits cover nearly three out of every five Americans, and most employers last year continued to offer them despite steep premium increases, according to the Kaiser Family Foundation. But workers generally are facing higher contributions for family coverage and they're also being asked to share more of the costs for medicines and hospital care ..." (Pittsburgh Post-Gazette)
Opinion: the Shame of Kaiser Aluminum
Excerpt: "It is a sorry thing to end medical benefits to employees because the business can no longer afford them. What is happening here is more than a sorry thing; it is a shameful thing. Under cover of bankruptcy law, a company is taking away benefits from its retired workers who already have earned them and who have no chance to earn them again." (The Seattle Times)
Eligibility, Applications, Denials, and Appeals for Social Security Disability Insurance
See first 'Issue in Brief' in the target publication. Excerpt: "Regarding eligibility, we find that, while the safety net program covers most American workers, a substantial group of older women remains without coverage. We find that older people in poor health and with low economic status are more likely to apply for DI, as compared to those reporting no health problems and with more assets." (University of Michigan Retirement Research Center)
Links to Items on Executive Comp, Benefits in General
New Hay Group Study Reveals Pay Packages of Many European Executives Exceed U.S. Levels
Excerpt: "A new study by Hay Group, reveals that European executives are not only closing the pay gap on their US counterparts, but in many cases earning even more. Hay Group surveyed 153 publicly traded European companies to determine the prevalence and level of executive compensation practices, covering nearly 1,000 executives from 11 European countries." (Hay Group)
Alternatives to Employee Stock Options: Performance Restricted Stock
Excerpt: "Performance-based equity incentive awards provide a number of alternatives to employee stock options. An organization must carefully consider the type of award design and application within the organization in the context of its business environment and short-, mid-, and long-term business strategy. In this article, we describe a number of different ways to link performance to restricted stock." (Aon Consulting)
Newly Posted Events
Joint Annual Conference: New Visions in Employee Ownership
in Illinois on April 28, 2004
presented by National Center for Employee Ownership
Newly Posted Press Releases
North Carolina Firm Offers Super Bowl Special to Plan Sponsors
(Metrics Partners)
401kLoans, LLC Offers Loan Origination and Documentation Solution
(401kLoans, LLC)
Newly Posted or Renewed Job Openings
Pension Consultant
for TPA in SFV Needs You!
in CA
Pension Manager
for Benetrends, Inc.
in CA, PA
Employee Benefits Specialist
for Bank Group in scenic western Colorado resort areas
in CO
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