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March 12 - 15, 2004 -- 8,783 subscribers
Today's sponsor: ProAct Technologies
(Click on company name or banner to learn more.)
Moving HR Communication Online at Lee Enterprises 03/25/2004 11:00am - 12:00pm PST Lee Enterprises, the 12th largest newspaper company in the U.S., was the first in the world to produce a newspaper entirely by computer. So when the company acquired 17 more newspapers in 2002, it realized it was time to automate HR and benefits communication and enrollment as well. Join us for a Web seminar with Kim Mann, director of HR for Lee. She will describe the areas where Lee is improving service to its 6700 employees in 19 states and achieving rapid ROI. Register to find out how ProAct software helped Lee Enterprises deliver up-to-date, accurate, personalized HR and benefits information to employees over the Web - efficiently, painlessly and inexpensively.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Proposed FASB Staff Position on Accounting and Disclosure Requirements Under New Medicare Law (PDF)
11 pages; comment deadline (to FASB) is April 12, 2004. Excerpt: "This Board-directed FASB Staff Position (FSP) provides guidance on the accounting for the effects of the Medicare Pres.cription Drug, Improvement and Modernization Act of 2003 (the Act), for employers that sponsor postretirement health care plans that provide pres.cription drug benefits. This FSP also requires those employers to provide certain disclosures regarding the effect of the federal subsidy provided by the Act ..." (Financial Accounting Standards Board)
Coverage and Cost Impacts of the President's Health Insurance Tax Credit and Tax Deduction Proposals
Excerpt: "This issue brief looks at the coverage impacts and costs of two components of the administration's FY 2005 budget proposals to increase the affordability of health insurance: a new tax credit for people purchasing non-group health insurance and a new tax deduction for premiums for high-deductible, non-group health insurance policies." (Kaiser Family Foundation)
Forces Gather to Push for Change in New Medicare Drug Benefit
Excerpt: "What are the chances of the new Medicare drug benefit being improved before the law goes into effect in January 2006, thus making it more attractive to older Americans who must decide whether to sign up for it? That question is shaping up as a major battle in this election year ..." (AARP Bulletin)
Medicare Actuary Known for Strong Beliefs
Excerpt: "Richard S. Foster's disagreements with Medicare officials over projections of the costs of the program began almost as soon as he took over as its chief actuary in 1995." (New York Times; one-time registration required)
Consumer Protection and Long-Term Care Insurance: Predictability of Premiums (PDF)
10 pages. Excerpt: "This policy brief highlights one specific consumer protection issue in long-term care insurance--consumers' expectations regarding the premiums they will pay over the life of their insurance policies." (Georgetown University Long-Term Care Financing Project)
Overview: Court Rules Maine PBM Law Preempted by ERISA
Excerpt: "A Maine law that regulates pres.cription benefit managers is pre-empted by the federal Employee Retirement Income Security Act and violates PBMs' constitutional right to protect trade secrets, a district court has ruled." (Business Insurance)
Opinion: The Illusion of Group Health Insurance-- Discretionary Associations
18 pages issue brief. Excerpt: "This segment of the health insurance market continues to grow as people who lose their traditional employerbased insurance seek low-cost alternatives that seem to promise group protections. It is also a reflection of the spotty and largely inadequate regulatory system that is supposed to oversee this sector of the market." (Families USA)
Impact of Drug Subsidy Under Medicare Bill Remains To Be Seen
Excerpt: "Health benefit plans for Medicare-eligible retirees got a huge boost from Congress in the Medicare Reform Act, which includes billions in tax subsidies for employers that provide pres.cription drug benefits to retired employees.... Qualified retiree health coverage must equal or exceed the actuarial value of the standard Medicare Part D benefit in order to qualify for the subsidy." (BenefitNews.com)
The Impact of Nearly Universal Insurance Coverage on Health Care Utilization and Health
Summary of working paper by David Card, Carlos Dobkin and Nicole Maestas. Excerpt: "We use the increases in health insurance coverage at age 65 generated by the rules of the Medicare program to evaluate the effects of health insurance coverage on health related behaviors and outcomes." (National Bureau of Economic Research)
Opinion: the Uninsured-- Are We Asking the Wrong Questions?
Excerpt: "Instead of asking why so many people are uninsured, perhaps we should look more closely at who is insured and for what. None of us is insured for everything, nor should we be. Health insurance is only one way to pay for health care services, and often not the best way." (Greg Scandlen of the Galen Insitute)
HIPAA Privacy Deadline Looms For Small Employer Plans
Employer health plans with annual receipts of $5 million or less must comply with the HIPAA privacy rules by April 14, 2004. The compliance date for larger employer health plans was April 2003. A few health plans are not subject to the rules. A group health plan with fewer than 50 participants that is administered solely by the employer that maintains the plan is not a covered entity and thus does not have to comply with the HIPAA privacy rules. (Spencer Benefits Reports)
Links to Items on Executive Comp, Benefits in General
GE to Seek Stockholder OK on Severance
Excerpt: "General Electric Corp. now requires shareholder approval for large severance packages. The adopted changes are a limited version of those proposed by the Teamsters Affiliates Pension Plan at the annual shareholders meeting in April, the company said." (AP via Washington Post; one-time registration required)
Hewitt Federal Legislation Quick Guides Updated to March 9, 2004
Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law, regarding health and welfare benefit plans, retirement plans, and human resources and employment law." (Hewitt)
Newly Posted Events
2003 Form 5500 Webcast
Nationwide on March 17, 2004
presented by ASPA (American Society of Pension Actuaries)
Fundamentals of 401(k) Plan Workshop
Nationwide on May 6, 2004
presented by SunGard Corbel
Utilizing Evidenced - Based Wellness Programming to Manage the Financial Burden of Employee Healthcare
in Florida on March 17, 2004
presented by Florida West Coast Employee Benefits Council
412i New Regulations - What to Do Next!
Nationwide on March 12, 2004
presented by The 412(i) Company
Aggressive Practices in Employee Benefits: The IRS Crackdown on Schemes too Good to be True -- 90-Minute Interactive Audio Conference
Nationwide on March 26, 2004
presented by Thompson Interactive
HIPAA Final Privacy Compliance Deadline for Small Group Healthplans: What You Need to Know to Comply - 90-Minute Interactive Audio Conference
Nationwide on April 2, 2004
presented by Thompson Interactive
The Changing Horizon of Retirement Benefits: Counseling Pension Plan Participants (CLE for Non-ERISA Attorneys)
in Minnesota on March 23, 2004
presented by Minnesota Senior Federation - Metropolitan Region
IRS/DOL Enforcement Activities
in Pennsylvania on March 31, 2004
presented by Central Pennsylvania Chapter - ISCEBS
Newly Posted Press Releases
Enrollment in Consumer-Directed Health Plans Growing Rapidly
(Watson Wyatt)
Benefit Software Inc. Helps O'Reilly Auto Parts Communicate the Value of Health Insurance and Other Employee Benefits
(Benefit Software Inc.)
John Masters Promoted to eePulse, Inc. Director of Technology
(eePulse, Inc.)
2004 PBGC Forms Released – Pension Reporter System from DATAIR
(DATAIR Employee Benefit Systems, Inc.)
NEW AUTHORIA SOLUTION SUPPORTS MANAGERS, HELPS DRIVE BUSINESS VALUE AND FACILITATES CORPORATE COMPLIANCE
(Authoria, Inc.)
CALIFORNIA STATE AUTOMOBILE ASSOCIATION CHOOSES NEW AUTHORIA MANAGER ADVISOR TO SUPPORT MANAGERS AND SUPERVISORS
(Authoria, Inc.)
Senior, Consumer and Labor Groups Launch Campaign to Lower Prescription Drug Costs
(Consumers Union)
Newly Posted or Renewed Job Openings
Health & Welfare Associate
for Towers Perrin
in CT, NJ, OH
Director of Compensation and Benefits
for We have been hired as the recruiter of choice for an Atlanta firm
in GA
Plan Manager- Pension & Welfare
for General Board of Pension & Health Benefits of the United Methodist Church
in IL
Employee Benefits Sales Consultant: 04-0006205
for Wachovia Corporation
in MD
IRA Manager
for Polycomp Administrative Services, Inc.
in CA
Senior Plan Service Team Specialist
for ICMA Retirement Corporation
in DC
401(k) / Employee Benefits Sales Person
for Large Payroll provider with recurring sales leads and current client base
in AZ, FL, NY, WA
Director, Benefits Administration
for Mount Carmel Health
in OH
Defined Contribution Administrator / Compliance
for MK Consulting, Inc.
in ANY STATE
Administrative Assistant-Retirement Planning
for Atlantic Pension Planning Corp.
in NJ
Daily Valuation Specialist
for Daily Valuation Specialist
in OR
Senior Employee Benefit Trust Administrator
for The Bank of New York
in CA
ERISA/Executive Benefits Attorney
for Retirement Capital Group, Inc (RCG)
in CA
Writer/Editor -- Retirement Plans
for Forefield Incorporated
in MA
Supply Chain Services Consultant
for VitalSpring Technologies
in DC
Employee Benefits Attorney
for Quarles & Brady LLP
in WI
Senior Contract Analyst
for Large National Insurance and Financial Services Company
in FL, NY
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