| BenefitsLink Welfare Plans Newsletter |   |
August 31, 2004
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Canadian Internet Pharmacies Dealing With Shortages by Obtaining Medications From Overseas
Excerpt: "Faced with 'growing' pres.cription drug supply shortages, some Canadian Internet pharmacies 'are looking abroad themselves' and selling medications that originate from pharmacies in England, Chile, Fiji and Israel that can employ 'less-stringent safety regulations than those in North America,' the Los Angeles Times reports." (KaiserNetwork.org)
More Benefits Managers Opt for Mandatory Enrollment in 2004
Excerpt: "As benefits managers head into a new open enrollment season, increasing numbers of employers are requiring workers make an active benefits choice or risk getting put into a plan not meeting their needs." (PLANSPONSOR.com; one-time registration required)
Employer Best Practices for Mature Workers
Excerpt: "In 2002, 14 percent of the workforce was age 55 or older. By 2012, nearly 20 percent of workers will be at least 55, an increase of more than 10 million workers in this age group. In light of this demographic shift, AARP engaged Mercer Human Resource Consulting in 2004 to conduct an analysis of the workforce practices of current and former AARP Best Employers for Workers Over 50 ..." (AARP Research)
Overview: IRS Provides More Guidance on Health Savings Accounts
Excerpt: "The IRS recently issued its eighth notice or ruling on Health Savings Accounts (HSAs) since the new accounts were first signed into law last December. The multitude of guidance highlights both the attention HSAs have received and the complexities of administering them and coordinating them with existing arrangements." (Faegre & Benson LLP)
No Quick Fixes for the Spiraling Costs of Pres.cription Drugs
Excerpt: "Increases of 14.4 percent in the cost of pres.cription-drug benefits are likely this year. A key to reining in costs lies with education for both patients and doctors on the value of generics and the pernicious effects of direct-to-consumer advertising." (Workforce Management)
Study Says Government Reinsurance Could Expand Coverage to Individual, Small-Group Markets
Excerpt: "Health insurance could become more available and less expensive for people who experience catastrophic medical expenses if the federal government were to provide reinsurance policies that spread those costs across a larger population, a study suggests." (Medscape; one-time registration required)
Opinion: Buying in Canada Won't Cut Drug Costs
Excerpt: "If California or any other state succeeds in busting the border loose for imported drugs, Canadian drug prices would quickly rise to U.S. levels rather than Americans getting great deals on imported drugs. Canadian consumers would lose, and U.S. consumers wouldn't gain." (Joel W. Hay in the Los Angeles Times; one-time registration required)
Execs Not Big on Working from Home
Excerpt: "[I]t's somewhat disheartening to learn that many business executives don't put much emphasis on the flexibility to work from home when they're shopping for perks with a new employer." (Chicago Tribune; one-time registration required)
Links to Items on Executive Comp, Benefits in General
Overtime Rules Dispute Is a Numbers Game
Excerpt: "Over the past week, the new regulations have become a hot political subject, as Senator John Kerry, the Democratic presidential nominee, has asserted that six million workers will lose overtime coverage under the administration's new rules." (The New York Times; one-time registration required)
Opinion: the Dollars and Cents of G.ay Marriage
Excerpt: "[L]egalizing g.ay marriage isn't that costly in economic terms. In fact, research suggests it should save money for federal and state governments. And for corporate America, the costs of extending benefits to the partners and families of g.ay employees are small." (David R. Francis in the Christian Science Monitor)
Effective Dates of Recent FASB Pronouncements. Last Updated: August 30, 2004
Excerpt: "FAS 132(R), Employers' Disclosures about Pensions and Other Postretirement Benefits--Statement 132, as originally issued, is effective until the provisions of Statement 132(R) are fully adopted. ...." (Financial Accounting Standards Board)
Newly Posted Events
12th Annual Guns & Hoses
in California on October 3, 2004
presented by Institute for International Research
The 13th Annual Public Fund Boards Forum sm
in California on December 5, 2004
presented by Institute for International Research
Newly Posted Press Releases
State Officials, Funds Find Report Large on Hype, Little Help in Linking Investments to Terrorism
(National Association Of State Auditors Comptrollers And Treasurers)
Aggressive Communication Paired With Plan Design Changes Key to Controlling Health Care Costs
(Hewitt Associates LLC)
McKay Hochman To Offer Two New Retirement Plan Education eSeminars
(McKay Hochman Co., Inc.)
American Express Retirement Services Helps Clients Celebrate 401(k) Day 2004 - 401(k) Day to Kick Off a Month of Retirement Awareness Efforts to Help Workers Become “Retirement Ready”
(American Express Retirement Services)
PMCS and EBRx Announce the First Fully - Transparent Pharmacy Benefit Administrator
(Preferred Medical Claim Solutions and EBRx, Inc.)
Criminal Conviction Highlights Importance of HIPAA Privacy Compliance
(U.S. Department of Justice)
Newly Posted or Renewed Job Openings
Health & Welfare Consultant
for Towers Perrin
in CA, TX
Enrollment Coordinator/Bi-lingual
for Manulife Financial (Glendale, CA)
in CA
Benefits Analyst
for Southern California Edison
in CA
Benefits Analyst
for Professional services firm
in CA
Health & Welfare Plans Manager #718
for CITGO Petroleum Corporation
in OK
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