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May 5 and 6, 2004 - 8798 subscribers
Today's sponsor: Employee Benefits Institute of America Inc. 


COBRA's New Notice Requirements! Are You Ready?
The DOL's proposed COBRA regulations, expected to be finalized later
in 2004, impose new notice requirements--and EBIA is here to help!
Our COBRA: The Developing Law manual is the best resource available.
Written and edited by top employee benefits attorneys, our COBRA manual
(updated quarterly) has over 1,000 pages packed with information and
sample documents to help keep your group health plans in compliance with
COBRA's requirements.
Learn More

(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
HHS Secretary: Legal Drug Imports 'Coming'
Excerpt: "A senior Bush administration official for the first time said Tuesday that legalizing pres.cription drug imports was inevitable and would save consumers money." (AP via Yahoo! News)

Sen. Clinton Calls for National Campaign Against Youth Obesity
Excerpt: "Sen. Hillary Rodham Clinton, D-N.Y., Wednesday called for a massive national campaign to combat childhood obesity, similar to efforts to deter smoking and the spread of HIV/AIDS." (National Journal Group via BlueCross BlueShield Association)

CVS Drugstore Chain Backs Drug Imports to U.S.
Excerpt: "The No. 2 U.S. drugstore chain on Wednesday proposed a system that would allow Americans to legally and safely purchase cheaper medicines from Canada and other nations through registered suppliers." (Reuters via Yahoo! News)

Bid To Expand COBRA Health Premium Subsidy Rejected by U.S. Senate
Excerpt: "Congress last year, as part of trade legislation, set up and funded a new program that provides a 65% tax credit for eligible individuals to apply toward the premium they pay for qualified coverage.... The rejected amendment, proposed by Sen. Ron Wyden, D-Ore., to an export trade bill, S. 1637, would have bumped up the federal subsidy to 75%. The amendment died after falling five votes short of the 60 votes needed ..." (Business Insurance)

DOL Gives Tentative OK to Captive Benefits Plan
Excerpt: "The Labor Department Tuesday formally proposed that a major Swedish company be allowed to use a branch of its Ireland-based captive to fund the benefit risks of its U.S. employees." (Business Insurance)

Domestic Partner Benefits Seem to Be Expanding, Group Says
Excerpt: "Private employers are introducing domestic-partner health insurance benefits to g.ays at the rate of three companies a day, according to a study by the educational arm of a g.ay rights advocacy group. The analysis by the Human Rights Campaign Foundation found more than 1,000 private employers and colleges and universities added domestic-partner benefits in 2003, 18 percent more than the year before." (AP via South Bend Tribune)

Curing Wellness Programs
Excerpt: "What are the secrets to a successful employee-wellness program? As many companies are finding, they are creativity and financial incentives." (Human Resource Executive)

Alternative Healthcare Practices Haven't Faced the Test
Excerpt: "The argument for integrating such alternative health services as chiropractic and massage therapy into mainstream coverage is that they will reduce escalating costs by providing cheaper services with better results. But it's unclear whether these treatments can truly reduce costs. large-scale studies have yet to be conducted." (Workforce.com)

Survey: Health Savings Accounts Develop Mystique of a Winning Product
Excerpt: "Two out of three Americans say they would be 'extremely,' 'very', or 'somewhat interested' in having health savings accounts (HSAs), which were launched January 1 as part of Medicare reform, according to a new survey." (Managed Care Magazine)

DOL Paves the Way for Employer-Arranged Health Savings Accounts (PDF)
4 pages. Excerpt: "In a nutshell, the [Field Assistance Bulletin from the Labor Department] clarifies that HSAs generally will not constitute ERISA-covered employee welfare benefit plans, provided that the employer's involvement with the HSA is limited." (Kilpatrick Stockton LLP)

Healthcare Benefit Trends: Driving Forces, Proposed Solutions (PDF)
4 pages. (Grant Thornton LLP)

After Years Off, Some Women Struggle To Revive Careers
Excerpt: "[M]any professional women who quit their jobs to raise children are trying to go back -- and they're finding it harder than they ever imagined. The sluggish economy has made jobs scarce for many well-qualified candidates, let alone those with gaps in their resumes. With advances in technology, women who have taken even a few years off likely have fallen behind or feel out-of-touch." (Wall Street Journal via SFGate.com)

Links to Items on Executive Comp, Benefits in General

Opinion: Olde Europe Not Getting Any Younger
Excerpt: "Before long, declining demographic trends will place expensive and severe strains on the European economies, particularly on its health care and social systems." (Helle Dale published by the Heritage Foundation)

Monte Carlo: How a Useful Actuarial Tool Came to be Named After International Capital of Gambling (PDF)
5 pages. (Contingencies Magazine)

Side-by-Side Comparison of Executive Compensation Bills
4-page document from ERIC entitled 'Comparison of Current Non-Qualified Deferred Compensation Rules with Proposed Changes In H.R. 2896/S. 1637." (ERISA Industry Committee)

Text of American Benefits Council's Comments on Proposed Changes to EFAST Program (PDF)
6 pages. Excerpt: "we appreciate the opportunity to comment in writing on potential changes to the Employee Retirement Income Security Act of 1974 (ERISA) Filing Acceptance System (EFAST), an automated document processing system that uses computer-scanable forms and electronic filing technologies to process Form 5500 Annual Return/Report of Employee Benefit Plan and the Form 5500-EZ ... (American Benefits Council)

Making the Internet a Little Easier On Aging Eyes
Excerpt: "Lots of people dread having to read long articles on a computer screen. For many folks, especially aging baby boomers, the font size on Web sites seems to be getting mysteriously smaller year after year, causing them to squint, change glasses and crane their necks to see the screen clearly." (Wall Street Journal via SFGate.com)

Retooling Executive Compensation
Excerpt: "Outsized retirement packages and lavish perks may be losing favor, replaced by stress counseling and lifestyle coaching as companies retool their executive-benefit offerings for a new era." (Human Resource Executive)

Revised White-Collar DOL Overtime Regulations — a New Focus in an Uncertain Arena
Excerpt: "The United States Department of Labor has issued final regulations which make across-the-board changes in the definition of overtime-exempt, white-collar employees. These are the first such changes to be made since 1949 in the definition of overtime-exempt employees under the Fair Labor Standards Act." (Littler Mendelson)

Hewitt Research Report: HR Practices of Double-Digit Growth Companies
Excerpt: "Hewitt Associates conducted a multifaceted research study, in partnership with Michael Treacy, author of Double-Digit Growth: How Great Companies Achieve It -- No Matter What, to better understand the organizational drivers of double digit growth. Our work identified some fundamental characteristics and organizational, leadership, and HR practices that contribute to the success of double-digit growth (DDG) companies." (Hewitt)

Forbes Reviews New Fiction by Former PWBA Chief
Excerpt: "Robert A.G. Monks is a man for all seasons. A corporate lawyer turned takeover buccaneer, Monks went on to become the pension administrator of the U.S. Labor Department and thus reinvented himself as an early and uncompromising advocate of corporate governance reform when the movement was just in its infancy." (Forbes.com)

Opinion: 21st Century Employee Benefits Communication? Well, Almost
Excerpt: "Companies used to mail a video or cassette to each employee's home in an attempt to get the family involved. Think about that for a moment. We used to mail stuff home, and now we limit Web-based information and transactions to at-work access. What am I missing here?" (Richard Quinn on BenefitNews.com)

Newly Posted Events

Consumer Directed Health Plans and Health Savings Accounts
in California on May 25, 2004
presented by ArlenGroup and BDO Seidman, LLP

Consumer Directed Health Plans and Health Savings Accounts
in California on May 27, 2004
presented by ArlenGroup and BDO Seidman, LLP

May Day for the Uninsured: Will We Ever Achieve Health Care for All?
in District of Columbia on May 3, 2004
presented by Kaiser Family Foundation

The Cost of Care for the Uninsured: What Do We Spend & Who Pays?
in District of Columbia on May 10, 2004
presented by Kaiser Family Foundation
Newly Posted Press Releases

Newkirk Booklet Identifies Overtime Regulation Changes For Employers
(Newkirk)

Continuing Decline of Pension Plans Likely to Hit Younger Workers & Families the Hardest, Study Shows; 'A Demographic Time Bomb is Ticking, and the Time to Act is Now'
(Employee Benefit Research Institute (EBRI))

RAND Study Shows People At Risk Of Receiving Poor Health Care In All Parts Of The United States
(RAND Corporation)
Newly Posted or Renewed Job Openings
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Health & Welfare Consultant
for Towers Perrin
in CT, DC, NJ, NY, OH, TX

Defined Benefit Conversion Specialist
for New York Life Investment Management LLC
in MA

Defined Contribution Administrator
for Full service retirement plan firm in business over 21 years
in IL

Account Executive - Benefits
for Exclusive with Hufnell, Inc, Recruiters, Talent Acquisition - Benefits & Trust
in DE, NJ, PA

Pension Administrator
for FBD Consulting, Inc.
in KS

Lateral Attorney
for Slevin & Hart, P.C.
in DC

Plan Administrator/Account Manager
for Pension Services Corporation
in MO

Regional Sales Executive
for Trust Company of America
in AR, IA, IL, KS, KY, LA, MN, MO, MS, ND, NE, OH, OK, SD, TN, TX, WI

Defined Contribution Administrator
for The Pension Service, Inc.
in CT, MA, ME, NH, NY, RI, VT

Benefits Analyst
for New York City Transit
in NY

General Administrator
for PSC-CUNY Welfare Fund
in NY

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