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August 20, 2004
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Alcon Wins DOL Approval to Fund Benefits Through Captive
Excerpt: "The Labor Department Thursday gave final approval to a Swiss eye care pharmaceutical company's plan to fund benefit risks of its U.S. employees through its Vermont-domiciled captive." (Business Insurance)
Kerry: Bush Flip-Flops on Pres.cription Imports
Excerpt: "In a presidential campaign marked by Republican accusations that Sen. John Kerry has flip-flopped on several key issues, the Democrat's campaign wasted little time Thursday in accusing President Bush of the same thing on the concept of importing lower-cost pres.cription drugs." (Chicago Tribune; one-time registration required)
What COBRA Rights Exist For 'Same-Gender Relationships'?
Excerpt: "Employers should examine the definition of 'spouse' wherever it appears in all of their employee benefit plans.... [T]he obligation to provide federal COBRA benefits to same-gender spouses and civil union partners is extremely limited, although an employer may want to voluntarily offer COBRA-type coverage ... [F]or smaller, fully insured plans -- particularly plans covering Massachusetts or Vermont employees -- continuation coverage obligations [to such persons] may exist ..." (Thompson Publishing Group)
Aetna Seeks Affirmation That State Law Exempts HMOs From Subrogation Law
Excerpt: "Aetna U.S. Healthcare on July 29 filed a reply brief encouraging the Third Circuit U.S. Court of Appeals to affirm that Pennsylvania's Motor Vehicle Financial Responsibility Law (MVFRL) expressly exempts HMOs from state insurance laws prohibiting subrogation and that the Employee Retirement Income Security Act completely preempted the plaintiff's claims (Jonathan Wirth v. Aetna U.S. Healthcare, No. 04-2198, 3rd Cir.)." (lexisONE)
Small Firms Flexible in Granting Family, Medical Leave
Excerpt: "More than a decade after the Family and Medical Leave Act of 1993 became law, virtually all requests for such leave are being granted by American small-business owners whether required by law or not, according to an NFIB National Small Business Poll released today." (NFIB.com)
Wellness Works Out for Employers
Excerpt: "Memo to employees who are overweight, smoke, lack exercise and drink to excess: Your days of living dangerously are numbered. Wellness is the hot topic these days, so hot that insurance brokers are beginning to offer wellness programs to their business clients." (Milwaukee Journal-Sentinel)
Retirement Coaches Give Pointers to Employees
Excerpt: "When Gerry Allen took early retirement from Pfizer Inc., his package included financial planning and retirement coaching.... Retirement coaching helps people take time to stop and figure out their life direction, experts say. And it's sensible to plan ahead nowadays because life expectancy is climbing, and many financial advisers, for example, are counseling people to plan for life spans well into the 90s." (Detroit News)
Updated: An Overview of HSAs Compared to Archer MSAs, HRAs and FSAs (PDF)
32 pages; revised 8/18/04. In chart form. Bravo! (Miller & Chevalier, Chartered)
Overview of Health Savings Accounts and Consumer-Directed Health Plans (PDF)
8 pages. Excerpt: "A decade from now, we may remember the Medicare Pres.cription Drug, Improvement, and Modernization Act of 2003 less for its changes to the Medicare program than for its creation of the Health Savings Account (the HSA), which is essentially a muscular IRA-type savings vehicle for people covered by high deductible health insurance policies." (Adams and Reese LLP)
Fact Sheet for Consumers: Your Health Information Privacy Rights (PDF)
2 pages; released 8/17/04. Excerpt: "You can exercise these rights, ask questions about them, and file a complaint if you think your rights are being denied or your health information isn't being protected. Who must follow this law? Most doctors, nurses, pharmacies, hospitals, clinics, nursing homes, and many other health care providers; Health insurance companies, HMOs, most employer group health plans ..." (Department of Health and Human Services, Office for Civil Rights)
Fact Sheet for Consumers: Privacy and Your Health Information (PDF)
2 pages; released 8/17/04. Excerpt: "Who must follow this law? Most doctors, nurses, pharmacies, hospitals, clinics, nursing homes, and many other health care providers; Health insurance companies, HMOs, most employer group health plans ..." (Department of Health and Human Services, Office for Civil Rights)
Opinion: Why Is Pharmaceutical Industry So Threatened by Drug Importation?
By Dr. Marcia Angell, former editor-in-chief of the New England Journal of Medicine. Excerpt: "Everyone knows that pres.cription drugs cost much more in the U.S. than in other countries, and that it's illegal to import them (although many Americans and even whole cities do it anyway, and now Illinois Gov. Rod Blagojevich wants to). What we should do is import a system for keeping drug prices reasonable, not the drugs themselves." (Chicago Tribune; one-time registration required)
Will Consumer-Directed Health Care Improve System Performance? (PDF)
4 pages. Excerpt: "Consumer-directed health care plans have attracted attention as a method for managing rising health care spending by giving consumers greater financial control over their health care. However, increased cost-sharing the principal tool used by these plans to achieve lower spending--may also cause patients to consume less care, even when that care is essential." (The Commonwealth Fund)
Links to Items on Executive Comp, Benefits in General
Delta Retirees Buckle Up For Airline's Turbulent Ride
Excerpt: "As Delta Air Lines struggles to avoid bankrup.tcy, its more than 17,000 retirees wonder how a dramatic retooling of the company will affect their pension checks and health care benefits." (The Atlanta Journal-Constitution; one-time registration required)
Newly Posted Press Releases
NDCC Conference In Washington Explores Retirement Market Issues
(RG Wuelfing & Associates)
A Very Bad Message to Pension System: Council's Klein Comments on United Airlines' Pension Announcement
(American Benefits Council)
SHRM Study Shows a Quarter of Organizations Prepared to Handle Employee Inquiries on Same-Sex Marriage Benefits
(Society for Human Resource Management (SHRM))
Labor Department Solicits Nominations for 2005 ERISA Advisory Council
(U.S. Department of Labor, Office of Public Affairs, Washington, D.C.)
Newly Posted or Renewed Job Openings
Senior Pension/ 401 (k) Administrator - Takeover
for Polycomp Administrative Services, Inc.
in
Retirement Plan Administrator
for Valley Forge Consulting Corporation
in PA
Relationship Manager
for MassMutual Financial Group
in MD
Client Relationship Manager
for American United Life Insurance Company
in IL, KS, MN, OH
Recordkeeping Services Manager
for The Vanguard Group
in PA
Delivery Team Mgr. Benefits/Plan Mgnt
for Hewitt Associates
in NJ
Defined Contribution Project Manager
for Hewitt Associates
in NJ
Defined Benefits Requirement Consultant
for Hewitt Associates
in IL
Defined Benefits Requirement Analyst
for Hewitt Associates
in IL
Defined Benefit Ongoing Project Manager
for Hewitt Associates
in IL
Defined Contribution Project Manager
for Hewitt Associates
in IL
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