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March 25, 2004 - 8,783 subscribers
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(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Medicare Official Testifies on Cost Figures
Excerpt: "The chief Medicare actuary, Richard S. Foster, told Congress on Wednesday that last June he provided the White House with data indicating that pres.cription drug legislation would cost 25 percent to 50 percent more than the Bush administration's public estimates. That information did not make its way to Congress for six more months." (New York Times; one-time registration required)

HIPAA Security and Privacy Issues for Employers (PDF)
31 pages; March 2004. (Workgroup for Electronic Data Interchange, Strategic National Implementation Process)

Why Domestic Partners Are Not Eligible for COBRA Coverage
Excerpt: "ERISA, the federal law that regulates COBRA continuation coverage in conjunction with the Internal Revenue Code, permits only 'qualified beneficiaries' to receive COBRA benefits. Under IRS 1999 final regulations, a qualified beneficiary is defined only as a covered employee, the spouse of a covered employee, or the dependent child of a covered employee." (OnQue Technologies, Inc.)

Overview: IRS Rules COBRA Not Extended After Medicare Entitlement
Excerpt: "On February 13, 2004, the IRS issued Rev. Rul. 2004-22, 2004-10 I.R.B. 553, which deals with the COBRA extension of coverage for spouses and dependents who are receiving COBRA benefits when the former employee becomes entitled to Medicare. Until this ruling, it has been standard COBRA administration procedure to offer these family members a total of 36 months of COBRA coverage ..." (BNA Tax Management)

House Panel Hears Concerns About Offering Health Savings Accounts for Federal Gov't Employees
Excerpt: "The House civil service subcommittee plunged into a debate yesterday over whether federal employees and retirees should be offered 'health savings accounts' as one of their choices when buying health insurance." (Washington Post; one-time registration required)

Opinion: It's President Bush vs. Governor Bush in Supreme Court HMO Case
Excerpt: "Did Bush change his mind after the 2000 debate in which he praised the provision of the Texas law allowing patients to sue their HMOs? No, I cannot criticize the President by saying that he changed his mind. Instead, Bush lied in the 2000 debate." (Morons.org)

Overview: FASB Proposes Guidance on Accounting for New Medicare Drug Subsidies (PDF)
4 pages. Excerpt: "Compliance with the [FASB staff position] is likely to result in improved financial results for many employers. However, there is considerable uncertainty about how the new Medicare law will work and employers may vary widely in how they measure its financial effects." (Mellon's Human Resources & Investor Solutions)

Labor vs. 'Wal-Martization'
Excerpt: "Washington Post columnist Steven Pearlstein was online to talk about the looming grocery worker strike in the Washington region -- the latest struggle over the 'Wal-Martization' of the U.S. economy.... Nobody is trying to take health insurance away from these workers. But I don't know any company that can afford to pay 100 percent of the premium and have very low co-pays and deductible in the current environment ..." (Washington Post; one-time registration required)

Phased Retirement: Paring Costs, Saving Expertise
Excerpt: "A new study by Watson Wyatt ... found that many employers have yet to establish formal or informal arrangements -- such as shorter work weeks, flexible hours, or the opportunity to try something new -- that would encourage older workers to delay full retirement." (CFO.com)

Links to Items on Executive Comp, Benefits in General

Supreme Court Denies Request for Certiorari on 9th Circuit Domestic Partner Case
Excerpt: "Whether or not San Francisco was in violation of the commerce clause of the U.S. Constitution by requiring contractors to provide domestic partner benefits to employees is an issue that will not be taken up by the U.S. Supreme Court." (PLANSPONSOR.com; one-time registration required)

Newly Posted Events

The New 412(i) Guidelines Webcast
Nationwide on April 27, 2004
presented by ASPA (American Society of Pension Actuaries)

Social Security Trustees Report
Nationwide on March 22, 2004
presented by Kaiser Family Foundation

Top Developments in Pharmacy Benefit Management
Nationwide on April 15, 2004
presented by International Foundation of Employee Benefit Plans

Qualified Plans Update
in Illinois on April 21, 2004
presented by McGladrey & Pullen, LLP
Newly Posted Press Releases

The Principal Financial Group Introduces Online Claim Reports for Employers; New eClaim Reporting Capabilities Provide Employer Customers 24/7 Access to Information
(Principal Financial Group)

The Principal Introduces New Registered Defined Benefit Solution
(Principal Financial Group)

2004 Trustees Report - Little Change in Long Term Solvency of Social Security
(Social Security Administration)

Blue Shield of California Offers Online Benefits Administration To Employers; Contract With BeneTrac Provides Enhanced Capabilities At No Additional Charge
(BeneTrac)
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)

Al Otto (White Horse Advisors, LLC)
Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Director of Benefits
for Co-Advantage Resources
in FL

401(k) Plan Specialist
for Retirement Plan Services, L.L.C.
in MO

Senior 401(k) Conversion Manager
for ADP TotalSource
in FL

DB/DC Programmer
for Recruiting Firm Seeking Retirement Systems Personnel
in MA

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Editor and Publisher: David Rhett Baker, J.D.

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