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January 27, 2004 - 8,783 subscribers
Today's sponsor: International Foundation
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Register now for this timely and informative educational offering With the passage of the Medicare Prescription Drug Improvement and Modernization Act by Congress in December 2003, health savings accounts (HSAs) are now a viable health care option as of January 1, 2004. What does this mean for your consumer-directed health care plan? How does it affect or compare to other forms of health care accounts that you may already have in place? For more information or to register visit www.ifebp.org.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Ways and Means Committee Chairman Clarifies Congressional Intent on Medicare Subsidy
Excerpt: "Employers that shift too much of the cost of their retiree pr*scription drug benefit to retirees will not be eligible for the 28 percent subsidy enacted as part of the Medicare Pr*scription Drug, Improvement and Modernization Act (P.L. 108-173), according to House Ways and Means Committee Chairman Bill Thomas (R-CA)." (Deloitte's Human Capital Advisory Services)
Leading Consumer-Driven Health Vendors Tout Enrollment Hikes
Excerpt: "Over the last year, enrollment in consumer-driven health (CDH) plans has more than doubled." (Inside Consumer-Directed Care via AISHealth.com)
Overview: Changes to Pr*scription Drug Benefits Under New Medicare Act
Excerpt: "This article first summarizes the drug discount card program and the pr*scription drug benefit and then addresses some of the thorny implementation issues." (Davis Wright Tremaine LLP)
Opinion: the Lowdown on Sugar and Obesity
Excerpt: "To lose weight, people must eat less, be more active, or both. The first part of that pr*scription, of course, raises the question, 'Eat less of what?' For the World Health Organization and most nutritionists, one obvious answer is sugars. But the United States and American food companies seem to have a different idea." (New York Times; one-time registration required)
Democrats Look to Revive Medicare Issue
Excerpt: "Republicans hoped that the Medicare law signed by President Bush last month would take the issue off the table for this year's elections. But many seniors say the bill's pr*scription drug benefits fell short of expectations. Democrats see political advantage in reviving the health care debate -- an issue they've dominated for years. Hear NPR's Julie Rovner." (National Public Radio)
Senator Edward M. Kennedy Introduces the Health Security and Affordability Act
Press release Excerpt: "The Bush Administration has no program to control health care costs. Why not? Because it might upset the drug industry and the insurance industry." (Senator Edward M. ("Ted") Kennedy)
Links to Items on Executive Comp, Benefits in General
Online Year 2004 ERISA Reporting Calendars
Excerpt: "The 2004 ERISA Reporting Calendars are now available online. Plan administrators of single and multiemployer pension and welfare benefit plans can click ... to access concise information on where, when and how to file annual and special reports with the DOL, IRS and PBGC, with links to relevant forms and information at the agency sites." (Watson Wyatt)
Text of IRS Notice 2004-10 on Use of Electronic Distribution of Forms 1099, 5498 (PDF)
Excerpt: "[A] furnisher of a Form 1099 or a Form 5498 relating to the reporting of contributions and distributions of pensions, SEPs, traditional IRAs, Roth IRAs, QTPs, CESAs, and Archer MSAs may deliver electronically the payee statements required to be furnished to recipients for 2003 and subsequent years." (Internal Revenue Service)
New Web Page from IRS Employee Plans: Employee Plans Abusive Tax Transactions
Excerpt: "The IRS is engaged in extensive efforts to curb abusive tax shelter schemes and transactions. The Tax Exempt and Governmental Entities Division of the IRS, including the office of Employee Plans, participates in this IRS-wide effort by devoting substantial resources to the identification, analysis, and examination of abusive tax shelter schemes and promotions." (Internal Revenue Service)
2004: Last Call for Preferable Stock Option Accounting
Excerpt: "Absent any last-minutes surprises, 2004 will be the final year of no accounting expense for stock options. The Financial Accounting Standards Board's (FASB's) tentative decision is for the new standard to become effective for fiscal years beginning after December 15, 2004. This makes the considerations for 2004 grants a little more complicated, as companies must consider how the grants will be accounted for both before and after the new rules go into effect." (Watson Wyatt)
Newly Posted Events
New Visions in Employee Ownership
in Illinois on April 28, 2004
presented by Beyster Institute
February Dinner Meeting
in Florida on February 24, 2004
presented by Florida West Coast Employee Benefits Council
Made in America 2004: The Inaugural Taft-Hartley Benefits Summit
in Nevada on February 18, 2004
presented by Financial Research Associates, LLC
Newly Posted Press Releases
PSCA Urges SEC To Preserve Level Playing Field For All Investors
(Profit Sharing/401(k) Council of America (PSCA))
Newly Posted or Renewed Job Openings
401(k) Account Manager
for CNA
in CA
Defined Benefits Administrator
for PennMont Benefit Services, Inc.
in PA
Senior Human Resources Analyst
for County of Riverside
in CA
Marketing Consultant
for Polycomp Administrative Services, Inc.
in CA
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- Employee Benefits Library
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