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September 23, 2004
Today's sponsor: World Congress
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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)
Report on the Impact of Drug Reimportation and Price Controls on the U.S. and Massachusetts
Excerpt: "Consumer groups and the media are putting pressure on public officials to allow U.S. citizens to reimport drugs from foreign countries like Canada. This report concludes reimportation programs or price controls would have a dramatic negative impact on drug development in the United States and, because it is home to a significant research center, on the economy of Massachusetts." (Institute for Policy Innovation)
Managed Care Plans to Get Windfall from New Medicare Law
Excerpt: "The new Medicare law passed by Congress last year will pay private managed care plans an average of 8% more per patient than Medicare would pay if those beneficiaries remained in the program's government-run fee-for-service program, according to new estimates released Wednesday." (Reuters Health via Medscape; one-time registration required)
A Guide for Employers to New COBRA Requirements for Trade-Displaced Workers (PDF)
Excerpt: "The Trade Adjustment Assistance Reform Act of 2002 (TAA) provides U.S. workers with monetary assistance to continue health insurance coverage when they lose their jobs due to international trade. This program provides a tax credit to offset the cost of COBRA coverage. This article provides an overview of TAA and how employers can comply with the new COBRA requirements for trade-displaced workers." (Employee Benefit Plan Review via Aon)
Electronic Medical Records Are Taking Root in New York's Hudson Valley
Excerpt: "In New York's Hudson Valley, more than 600,000 patients are blazing a trail with a new regional medical-information network that lets area hospitals, doctors, labs and pharmacies share medical records securely over the Internet." (Wall Street Journal via SFGate.com)
'Sequencing' Moms Finding It Easier to Pop Back Into Workforce After Maternity Leave
Excerpt: "Employers are partnering with search firms that specialize in returning moms. Companies are going beyond federal law and giving mothers a year or longer for maternity leave, then taking them back. And some businesses are specifically trying to recruit sequencing moms for job openings." (USA TODAY)
Freddie Mac Says Wellness Center Will Reduce Health Care Costs
Excerpt: "As more employers discover the high costs associated with poor employee health, many are turning to on-site health centers to help employees stay well. Latest to join the trend is Freddie Mac, one of the nation's largest investors in residential mortgages." (BenefitNews Connect)
URAC Unveils Draft Standards for Consumer-Driven Plans
Excerpt: "URAC, a nonprofit organization that develops accreditation and certification programs for health plans, is seeking comments on its draft set of standards for consumer-driven health plans. The draft standards can be viewed on URAC's Web site, www.urac.org. Public comments on the standards are due by Nov. 2." (Business Insurance)
Some Blue Cross and Blue Shield Plans Make Good on Promise to Keep Rate Increases in Check
Excerpt: "After several years of double-digit premium increases, Blue Cross and Blue Shield plans in several markets last fall promised clients that the rate hikes would be less severe in 2004. For the most part, agents, brokers and employer groups say the Blues plans have kept their word." (AIS Managed Care)
Issue Brief: Rising Health Care Costs, Medical Debt and Chronic Conditions
Excerpt: "About 57 million working-age Americans--18-64 years old--live with chronic conditions, such as diabetes, asthma or depression. In 2003, more than one in five, or 12.3 million people with chronic conditions, lived in families with problems paying medical bills, according to a new study by the Center for Studying Health System Change (HSC)." (Center for Studying Health System Change)
New York State Law Will Help New York Entertainers Pay for Their Health Plans
Excerpt: "Gov. George E. Pataki has signed a bill that will use state money to help actors, performers and other entertainment industry members maintain their health insurance during their all-too-frequent bouts of unemployment." (New York Times; one-time registration required)
Insurance Falls Short for Some Workers Says New Study from the Center for Health System Change
Excerpt: "Privately insured, low-income workers with chronic medical conditions such as diabetes and asthma are being financially squeezed as employers shift the burden of higher health care costs to employees, a new study found." (AP via The New York Times; one-time registration required)
National Committee for Quality Assurance Report Says Poor Medical Treatment Kills Thousands
Excerpt: "Requiring doctors and hospitals to report publicly on their performance and tying their pay to the results would dramatically reduce avoidable deaths and costs attributable to poor medical care, says a new report from an organization that works to improve health care quality." (AP via The New York Times; one-time registration required)
Opinion: California Can Lead on Medical-Care Reform with Proposed State Legislation, SB921
Excerpt: "There is a solution for a publicly financed universal system covering every Californian at hand in Sacramento. Proposed legislation, SB921, sponsored by Sen. Sheila Kuehl, ..., would establish a single state government fund to pay hospitals, doctors and other providers, and replace the current multiplayer wasteful system of private insurers." (San Francisco Chronicle via SFGate.com)
Links to Items on Executive Comp, Benefits in General
US Airways Sets Deadline for Concessions from Employees
Excerpt: "US Airways yesterday gave its unions until tomorrow to agree to emergency contract concessions. Otherwise, the airline said, it would ask a federal bankrup.tcy court to impose temporary pay cuts and other cost-saving steps aimed at generating much-needed cash. The ultimatum was contained in a bulletin last night from the chief executive, Bruce R. Lakefield, to the airline's 28,000 employees." (New York Times; one-time registration required)
United Airlines Delays Decision on Pension Plans' Fate
Excerpt: "United Airlines hopes to complete a new business plan within two months, including a decision on whether to terminate its pension plans, the company told employees yesterday. The statement came as part of a ''pension primer' letting employees know what would happen if it replaced its current pension plans with another retirement plan, such as a 401(k)." (Chicago Tribune via The Boston Globe)
Update on Same-Sex Marriage and Domestic Partner Issues after the San Francisco Marriage Decision
Excerpt: "Ruling in a pair of cases challenging the issuance of same-sex marriage licenses by the City and County of San Francisco, the California Supreme Court held that San Francisco officials exceeded their authority. The Court also held that the approximately 4,000 same-sex marriage licenses issued by San Francisco were void from the inception." (Littler Mendelson)
Kerry Maintains Domestic Focus, Turning to Social Security and Medicare
Excerpt: "Senator John Kerry extended his assault on President Bush's credibility from the war to the home front on Wednesday, asserting that on Social Security and Medicare, as on Iraq, Mr. Bush had failed to level with the American people." (New York Times; one-time registration required)
Employee Stock Options: New Valuation Responsibilities and Planning Opportunities (PDF)
9 pages. Excerpt: "The new Financial Accounting Standards Board (FASB) valuation standard has created an opportunity to truly understand the cost of employee stock options to the company and related value to the employee. Only with that understanding can an organization determine the employee's perceived value and be able to understand the drivers of productivity." (Benefits Quarterly via Aon)
Newly Posted Events
Cafeteria Plans
in Washington on September 29, 2004
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA’s Security Rule: Organizing Efforts, Meeting Compliance
Nationwide on September 30, 2004
presented by International Foundation of Employee Benefit Plans
Newly Posted Press Releases
SunGard Offers Automated Rollover Solution
(SunGard Corbel)
Treasury Urges Banks And Credit Unions To Offer Health Savings Accounts
(U.S. Department of Treasury)
Retirement Plan Expert asks Companies, “Are you Prepared?”
(Global Fiduciary Advisors, LLC.)
Newly Posted or Renewed Job Openings
Defined Benefit Calculation Specialists
for Constantin Control Associates
in IL, NC, NJ, NY, PA
401(k) Administrator
for Continental Benefits Group, Inc.
in NJ
Senior Corporate Counsel
for Financial Engines
in MA
ERISA Attorney Needed - Boise, Idaho
for The ERISA Law Group, P.A.
in ID
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