| BenefitsLink Welfare Plans Newsletter |   |
August 19, 2004
Today's sponsor: World Congress
(Click on company name or banner to learn more.)
The 2nd Annual WORLD HEALTH CARE CONGRESS January 30 – February 1, 2005 ~ Washington DC ~ Marriott Wardman Park Hotel The 2nd Annual 2005 World Health Care Congress is the most progressive forum to achieve an affordable, accountable U.S. health care system. Co-sponsored by the Wall Street Journal and CNBC, the 2004 executive conference initiated a dialog of national significance. The 2005 conference achieves significant strides in implementing actionable solutions as it will convene all stakeholders - over 1500 CEOs, senior executives and government officials from the nation’s largest employers, hospitals, health systems, health plans, pharmaceutical and leading government officials.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Rising Cost of Health Benefits Cited as Factor in Slump of Jobs
Excerpt: "Government data, industry surveys and interviews with employers big and small indicate that many businesses remain reluctant to hire full-time employees because health insurance, which now costs the nation's employers an average of about $3,000 a year for each worker, has become one of the fastest-growing costs for companies." (New York Times; one-time registration required)
$3.2 Billion Overpaid In Social Security Benefits
Excerpt: "A federal audit estimates that the Social Security Administration overpaid nearly $3.2 billion in disability benefits since 1996 to people who were working and that it failed to detect almost $1.4 billion of the amount overpaid. The purpose of the yearlong audit by the inspector general's office for SSA was to determine how effective Social Security was in tracking work activity of recipients of Old Age, Survivors and Disability Insurance ..." (Washington Times)
National Small Business Poll: Family and Medical Leave (PDF)
27 pages. Excerpt: "The survey on which this report is based is structured to initially inquire about small employer policies toward family and medical leave." (National Federation of Independent Business)
Insurer Highmark Attempts To Reduce Costs by Restricting Coverage for MRI, PET, CT Scans
Excerpt: "The Wall Street Journal on Thursday profiled Pittsburgh-based not-for-profit health insurer Highmark, which is one of the first health insurers 'to impose ... a strict program on an imaging market already brimming with machines and runaway costs.' According to the Journal, in western Pennsylvania, 'an older-than-average population and an unrestrained imaging market' have contributed to the increase in Highmark's outpatient imaging expenses ..." (KaiserNetwork.org)
Employer Choices of Family Premium Sharing (PDF)
40 pages. Paper-in-Progress from the EBSA Research Conference. Excerpt: "The increasing labor force participation of two-earner families together with the increase in unmarried households suggests that the way in which employer-sponsored health insurance is obtained by many workers and their preferences for different types of coverage has changed." (U.S. Department of Labor, Employee Benefits Security Administration)
McDonald's Fights Try For Employer-Paid Health Insurance in California
Excerpt: "A battle is gearing up in California to determine if companies will be forced to pay for workers' health insurance." (Chicago Tribune; one-time registration required)
Overview: Supreme Court Rules That ERISA Preempts State Patients' Rights Laws
Excerpt: "The U.S. Supreme Court has ruled that ERISA preempts state laws that allow health plan participants to sue their health plans for denying coverage." (Watson Wyatt Worldwide)
Links to Items on Executive Comp, Benefits in General
FASB: Options Are Equity
Excerpt: "The Financial Accounting Standards Board (FASB) has reaffirmed its basis that stock option awards should be treated as equity and not a liability. With the decision, the Norwalk, Connecticut-based accounting standards board has effectively ruled out the possibility that companies would be allowed to adjust options expense to reflect how much employees actually get." (PLANSPONSOR.com; one-time registration required)
Overview: Nonqualified Deferred Compensation Legislation Has Broad Implications
Excerpt: "On June 17, the House approved the American Jobs Creation Act (H.R. 4520) which would make several significant changes to the rules on nonqualified deferred compensation (NQDC)." (Watson Wyatt Worldwide)
Hewitt Federal Legislation Quick Guide [updated on August 17, 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
Pathfinder Demo - for Advisors
Nationwide on August 31, 2004
presented by PLANSPONSOR
SPARK Accredited Retirement Plan Consultant (ARPC) Training and Designation Program
in Pennsylvania on September 21, 2004
presented by Society of Professional Administrators and Recordkeepers (SPARK)
SPARK Accredited Retirement Plan Specialist (ARPS) Training and Designation Program
in Pennsylvania on September 22, 2004
presented by Society of Professional Administrators and Recordkeepers (SPARK)
Newly Posted Press Releases
Health Insurance Coverage Dropped for Workers at Large Firms in 1987-2002 Period
(Employee Benefit Research Institute (EBRI))
Invesmart Urges Department of Labor to Mandate Fee Transparency in Retirement Plans
(Invesmart, Inc.)
Effective Claim Denials Management
(Health Resources Online)
Treasury Issues Guidance On Funding Requirements For Employers Who Elected Funding Relief
(U.S. Department of Treasury)
Large Financial Institutions Widely Use Supplemental Retirement Plans
(Todd Organization)
UnitedHealth Group Reports Marked Increase In HSA Activity Among Both Employer Groups and Individuals
(UnitedHealth Group)
Newly Posted or Renewed Job Openings
Senior Pension/ 401 (k) Administrator - Takeover
for Polycomp Administrative Services, Inc.
in
Senior Compensation & Benefits Analyst
for Providence Health System
in WA
System Benefits Manager
for Providence Health System
in WA
Institutional Investment Group Sales/Client Sales Support RFP
for PNC Advisors
in PA
TPA Specialist - Western Region
for Transamerica
in CA
Retirement Plan Actuary/Consultant
for Charles Schwab
in OH
Retirement Services Implementation Specialist (So.California) Bi-lingual / Spanish
for ADP Retirement Services
in CA
Retirement Services Implementation Manager - Baltimore / Atlanta area
for ADP Retirement Services
in GA, MD
Benefits Delivery Project Manager
for Hewitt Associates
in TX
Health & Group Benefits Manager
for Hewitt Associates
in FL
Communications Manager
for BISYS Retirement Services
in MN
Benefits Administrator for Employee Benefits Firm
for Ganim Group, Inc.
in CT
Financial Services Specialist
for Nationwide Insurance
in OH
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- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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