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February 27, 2004 - 8,783 subscribers
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California Workers, Grocery Store Chains Reach Tentative Contract Agreement
Excerpt: "After 16 days of negotiations, grocery store chain executives and union leaders in Southern California on Thursday reached a tentative agreement that could end a nearly five-month-long strike and lockout that 'highlighted the national debate over how much companies should pay for workers' health care coverage,' the Los Angeles Times reports." (KaiserNetwork.org)
Grocers, Strikers Reach Tentative Deal
Excerpt: "The Los Angeles Times reported on its Web site Thursday that both sides made concessions in the dispute over wages and health care benefits." (The Mercury News)
Key Members of Congress Press EEOC to Fix Erie County Problem
Excerpt: "Senate Finance Committee Chairman Charles Grassley (R-IA) and HELP Committee Chairman Judd Gregg (R-NH) have sent a letter to EEOC Chair Cari Dominquez, urging the EEOC to complete action on its proposal to allow employers to coordinate retiree health benefits with Medicare." (HR Policy Association)
Revised GASB Draft: Accounting and Reporting for Postemployment Benefits Other Than Pensions
Target page includes link to 205-page document dated January 30, 2004. (Governmental Accounting Standards Board)
Chartpack: Current Picture, Trends, and Medicare Pres.cription Drug Improvement Act (PDF)
60 pages. (The Commonwealth Fund)
Covering OTC Medicine and Drugs: Implications of IRS Guidance for Sponsors of FSAs and HRAs (PDF)
Excerpt: "In a policy shift, the Internal Revenue Service (IRS) issued Revenue Ruling 2003-102 that permits health plans to reimburse employees through health flexible spending arrangements (FSAs) and health reimbursement arrangements (HRAs) for expenditures on over-the-counter (OTC) medicine and drugs. This Bulletin discusses implications of this guidance for sponsors of FSAs and HRAs." (The Segal Company)
Overview: IRS Ruling Clarifies Effect of Medicare Entitlement on COBRA (PDF)
Excerpt: "The IRS recently ruled that a covered employee's entitlement to Medicare is not a second COBRA qualifying event if the Medicare entitlement would not have caused the qualified beneficiary to lose coverage under an employer's group health plan had the employee remained actively employed.... The ruling does not mean that a covered employee's Medicare entitlement can never be a qualifying event." (Mellon's Human Resources & Investor Solutions)
Insurer Properly Denied Claim For LTD Benefits Under Plan's 180-Day Waiting Period Rule
An insurance company properly denied a beneficiary's claim for long term disability benefits because the beneficiary did not meet the LTD plan's requirement of 'total disability' during a 180-day waiting period. This was the ruling of the Eighth Circuit U.S. Court of Appeals in Butts v. Continental Casualty Company and Michael Foods, Inc. (No. 03-1134). (Spencer Benefits Reports)
Benefit Spending Drives Compensation Costs
Excerpt: "Expenditures for employee benefits surged 6.3% for civilian workers in 2003 as wages and salaries rose 2.9%, driving total compensation costs up 3.8% for the year, according to the Employment Cost Index (ECI) compiled by the Labor Department." (BenefitNews.com)
IRS Issues Private Letter Ruling on Retiree Medical Funding
Excerpt: "A recent private letter ruling from the Internal Revenue Service (IRS) permits the use of a tax-effective method for funding retiree medical obligations.... Under the facts of the ruling, the VEBA will purchase a non-cancelable group retiree health insurance policy from an insurance company. The policy will be purchased by the VEBA." (McDermott, Will & Emery)
CDH Providers More Likely To Get Older, Sicker Enrollees
Excerpt: "Brokers now have evidence that consumer-driven health plans not only reduce costs, they do not promote adverse selection." (BenefitNews.com)
IRS Allows Reimbursement for Over-the-Counter Drugs: Implications for Multiemployer Health Funds (PDF)
2 pages. Excerpt: "As discussed in this Bulletin, there are a variety of ways in which health funds may wish to implement Revenue Ruling 2003-102, ranging from excluding coverage for all OTC medicine and drugs to covering all of them." (The Segal Company)
FDA Chief McClellan Defends Position on Pres.cription Drug Reimportation
Excerpt: "FDA Commissioner Mark McClellan on Thursday offered 'a spirited defense' of his opposition to the reimportation of lower-cost, U.S.-manufactured pres.cription drugs from Canada, CongressDaily reports." (KaiserNetwork.org)
Tauzin Drops Talks for Lobbying Job, Cites Ethics Flap
Excerpt: "In a surprising development, U.S. Rep. Billy Tauzin, R-Chackbay, announced Thursday that he has ended contract negotiations to become president of the Pharmaceutical Research and Manufacturers of America." (2TheAdvocate.com)
Links to Items on Executive Comp, Benefits in General
Detroit City Council May Weigh Domestic Partner Benefits
Excerpt: "Experts say cities amid urban revitalization must put out a welcome mat for g.ays, as did communities like Ferndale and Ann Arbor, where school districts offer partner benefits." (The Detroit News)
Newly Posted Press Releases
Most Companies Mix Outsourcing and Insourcing to Optimize Benefits Administration
(Watson Wyatt)
McKay Hochman Partners With HRcertification.com For Online Training
(McKay Hochman Co., Inc.)
Ad Hoc Coalition to Restore Retirement Security
(Coalition for Retirement Security)
With Schwarzenegger’s Deadline for Workers’ Comp Reform on March 1, Employers Urged to “Reform from Within”
(ClearComp)
New Coalition of Citizen Groups Cautions Congress: America Needs Reform, Not Bailout, of Pension System
(National Taxpayers Union)
Newly Posted or Renewed Job Openings
Daily Valuation Manager
for Rapidly Growing Daily Valuation Firm
in PA
Defined Contribution Plan Administrator
for Benefit Consulting Group, LLC
in NY
401(k) Plan Administrator
for Northern Colorado CPA Firm
in CO, WY
Retirement Plans Enroller
for Rapidly growing daily valuation TPA
in FL
Retirement Plans Relationship Manager
for Rapidly growing daily valuation TPA
in FL
Defined Contribution Retirement Plan Administrator
for American Pension Benefits, Inc.
in PA
Participant Service Representative
for Merrill Lynch
in NJ
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