| BenefitsLink Welfare Plans Newsletter |   |
September 27, 2004
Today's sponsor: American Lawyer Media
(Click on company name or banner to learn more.)
Complete Benefits Law Guidance from Law Journal Press The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field. Get legal and practical advice from leading experts on everything from COBRA to ERISA, "contingent" employees to family and medical leave, and more. Browse our product listings for detailed information and special offers.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Companies Adding Benefits to Help Workers Care for Aging Parents
Excerpt: "Employers who provide elder-care perks say they do it to keep workers more productive on the job and boost morale by sending the message that the company cares about their personal lives. 'It really helps drive home the whole issue that can't be stated strongly enough: balancing home and work life,' said Lori Rosen, a lawyer and workplace analyst." (Pittsburgh Post-Gazette)
U.S. Surgeon General Praises Indiana State Health Information Exchange
Excerpt: "Surgeon General Richard Carmona [last] Wednesday praised central Indiana health care officials for their efforts to create the Indiana Health Information Exchange, a computerized network that will allow physicians to gain access to patient records, the Indianapolis Star reports. Nine physician practices are currently using a clinical messaging component of the system that lets doctors access patient information and test results." (iHealthBeat)
The Mix of Health Care Costs, Medical Technology, and Information Technology in Health Care Industry
Excerpt: "The nation's health care bill is high and headed higher. Yet most hospitals lose money or barely break even. Doctors complain they are getting squeezed. Employers bemoan rising health care costs as a threat to global competitiveness. .... MAYBE spending more on high-tech health care isn't so bad after all. Wring inefficiency out of the system where you can, advises Mr. Cutler, the Harvard economist, but get used to it." (The New York Times; one-time registration required)
Legal Training for Employees Results in Clear ROI for Company
Excerpt: "Looking at legal training purely from the standpoint of return on investment, there is plenty of evidence that training saves companies money. What many executives learn from implementing a workplace legal-training program is that the greatest financial benefit of legal training is not the avoidance of litigation." (The Business Review via bizjournals.com; one-time registration required)
When Employees Are Sick, Absenteeism, Not 'Presenteeism,' Can Be a Virtue
Excerpt: "'Presenteeism is twice as big as absenteeism in America and accounts for two-thirds of the productivity losses that occur at work,' said Ronald Kessler, a professor of health care policy at Harvard Medical School." (The New York Times; one-time registration required)
Federal Employees Health Benefit Plan: a Feeble Model for Universal Health Care? (PDF)
2 pages. Excerpt: "Politicians are fond of saying that everyone should have a health plan as good as the one that Congress has. John Kerry, for instance, says that 'all Americans should have access to the same affordable coverage policies that Members of Congress get today,' and he proposes that any individual or business should be able to buy into it." (Physicians for a National Health Program)
Selection of Federal Employee Health Plans Includes One with Catholic Tenets
Excerpt: "The Bush administration has broken new ground in its 'faith-based' initiative, this time by offering federal employees a Catholic health plan that specifically excludes payment for contraceptives, abortion, sterilization and artificial insemination." (The New York Times; one-time registration required)
Health Insurance Poised for Radical Shift With Switch to Health Savings Account Plan
Excerpt: "Dills simply was looking for health insurance that her employer and her 160 co-workers could afford when she became the first executive in Tennessee to go with a Health Savings Account insurance plan from BlueCross BlueShield of Tennessee." (The Tennessean)
Text: the State of Health Care Quality, 2004: Industry Trends and Analysis (PDF)
61 pages. Excerpt: "NCQA's annual State of Health Care Quality report ... found that nearly 66.5 million avoidable sick days and more than $1.8 billion in excess medical costs can be traced to the health care system's routine failure to provide needed care." (National Committee for Quality Assurance)
Are You Ready for 'Big Box' Healthcare? Healthcare Delivery Based on the Wal-Mart Model?
Excerpt: "Some in the field might worry that cranking medicine into the merchandising model may result in the commoditization of healthcare. That fear may prove valid, but the upside may be worth the risk. The reality is that what serious competitive 'channel redistribution' offers healthcare is a transformation of the model by providing convenience and commonality." (HealthLeaders News)
New Medicare Rules Set Off Drug Choice Battle Between Insurance Companies and Drug Companies
Excerpt: "The new Medicare law has touched off a huge battle between insurance companies and drug companies that could determine how many medicines will be readily available to Medicare beneficiaries." (The New York Times; one-time registration required)
Bush's Words, Administration's Actions at Odds on Children's Health Care
Excerpt: "In his convention address in New York, President Bush announced a new $1 billion initiative to enroll 'millions of poor children' in two popular government health programs. But next week, the Bush administration plans to return $1.1 billion in unspent children's health funds to the U.S. Treasury, making his convention promise a financial wash at best." (The Washington Post; one-time registration required)
Medicare Must Improve MSP Recovery: GAO
Excerpt: "Medicare's system for recovering Medicare as secondary payer (MSP) overpayments from employer group health plans is no longer cost-effective. The Centers for Medicare and Medicaid Services (CMS) recovered only 38 cents per dollar spent on recovery in 2003, the Government Accountability Office (GAO) recently reported to the subcommittee on health of the House Committee on Ways and Means." (Spencer Benefits Reports)
House Panel Rejects Call for Release of Cost Estimates for New Medicare Law
Excerpt: "The House Ways and Means Committee on [September 23] voted 19-12 to reject a Democratic-sponsored resolution of inquiry that would have forced the Bush administration to release documents related to cost estimates for the new Medicare law, CQ Today reports (Schuler, CQ Today, 9/23)." (BlueCross BlueShield Association)
Welcome to new BenefitsLink advertiser LifeStart Wellness Network/Health IQ Diagnostics LLC
Excerpt: "LifeStart Wellness Network Inc. is a health and wellness company founded in 1992. We provide Health Risk Assessments, Fitness Evaluations, Biometric and Blood Screenings, Flu Shots, Workshops and Wellness Education. LifeStart created Health IQ Diagnostics LLC to supply companies with a cost-effective, turn-key solution that rewards employees with financial incentives for maintaining good health, improving their annual health scores, ."
Links to Items on Executive Comp, Benefits in General
US Airways Asks Court to Impose Temporary Wage and Other Cost Cuts on Union Workers
Excerpt: "The No. 7 U.S. airline said in a filing late on Friday night with the federal Bankrup.tcy Court for the Eastern District of Virginia that the forced contract modifications would be worth about $38 million a month. Combined with other savings, US Airways hopes to realize an extra $200 million in cash." (Reuters)
New California & Federal Employment Laws and Court Decisions That You & Your Clients Need to Know (PDF)
This 18 page document is a summary of Mark Terman's presentation at the California CPA Education Foundation Management of Accounting Practice Conference on September 20, 2004, of recent legislative and regulatory developments. (Mark Terman, partner with Reish Luftman Reicher & Cohen)
Court Rules Employers Not Obligated to Inform Workers of New Benefits Plans Not Yet Established
Excerpt: "The decision is viewed as a setback for all workers in the 7th Circuit, covering Illinois, Wisconsin and Indiana." (Chicago Tribune; one-time registration required)
USERRA Update: Employment-Related Rights for Called Up Military Reservists and Returning Vets
Excerpt: "According to published reports, Senate Minority Leader Thomas Daschle (D-SD) recently has requested Labor Secretary Elaine Chao to begin a formal Labor Department investigation of complaints from returning military forces who say they have lost jobs or benefits after returning.... Given current circumstances, an update on USERRA requirements is appropriate." (Deloitte's Washington Bulletin)
Nine States Vying in G.ay 'Marriage' Legalization Race
Excerpt: "In the nine-way race to become the second U.S. state to legalize same-sex 'marriage,' New Jersey, Oregon and Washington state appear to be in the lead, lawyers and activists say." (The Washington Times)
California State Employment Law Issues Involving Domestic Partners (PDF)
7 pages. This document is a summary of Mark Terman's presentation at the Los Angeles Chapter, California Society Of CPAs Business Managers Committee meeting on AUGUST 18, 2004. (Reish Luftman Reicher & Cohen)
Nonqualified Deferred Compensation Plans: Pending Legislation -- What Should You Be Doing Now? (PDF)
4 pages. Excerpt: "If the pending legislation is passed this year, it is likely to require immediate action with respect to deferrals beginning January 1, 2005 and later. The purpose of this alert is to suggest some proposed actions that employers can take now, so they are not caught unawares." (David L. Wolfe and Joyce L. Meyer at Gardner Carton & Douglas)
Export Tax Bill Containing Executive Compensation Restrictions Moving Slowly Towards Enactment
Excerpt: "This week, the House leadership predicted that the conference committee on export tax legislation (S. 1630/H.R. 4520), which contains significant new restrictions on deferred compensation, would finally begin next week." (HR Policy Association)
Public Companies Now Provide an Advance Look at Senior Executive Compensation
Excerpt: "A few months into a new fiscal year, most public companies divulge how much they paid their top managers in the previous one. Since Aug. 23, the Securities and Exchange Commission has required separate filings for a variety of events, including the signing or amendment of important contracts. The new rule has produced a stream of details that otherwise would have been buried deep in quarterly or year-end earnings reports." (The New York Times; one-time registration required)
AARP's Best Employers for Workers Over 50; In 2004, 35 Employers Make the List
Excerpt: "'[W]e want AARP's members to be able to see how their own workplaces measure up--what other companies are offering that theirs aren't. We also want the companies that didn't make the list to see it as an educational opportunity; they can learn what it takes and what it means to appreciate older employees.'" (AARP)
After Payroll, Benefits the Largest Single Expense for Most Businesses
Excerpt: "Benefit programs play a major role in employer-employee relations. After payroll, employee benefit programs make up the largest single expense for most businesses. Employers are constantly looking to improve or maintain benefit levels while staying within budget." (Business First of Buffalo via bizjournals.com; one-time registration required)
Unions Say Labor Rights and Benefits Are Lost When Corporations Too Concerned About Profits
Excerpt: "As the cost of health insurance coverage continues to grow, so does the role organized labor plays in its distribution. Union leaders feel that high health care costs will destroy both labor and companies alike if something isn't done." (Business First of Buffalo via bizjournals.com; one-time registration required)
Washington Legislative Wrap Up, 108th Congress (2003-2004) (PDF)
6 pages. The chart of federal legislative and regulatory proposals concerning employee benefits of interest to NCTR members has been updated to be current as of September 27, 2004. (National Council on Teacher Retirement)
Welcome to new BenefitsLink advertiser Workplace Economics Inc.
Excerpt: "Workplace Economics Inc. is an economics research and consulting firm specializing in the application of economic and quantitative analysis to employment, compensation and benefits, healthcare, pension and retirement issues since 1988. Workplace Economics Inc. has special expertise with respect to public employee compensation and benefits issues and private transportation industry compensation and benefits issues."
Newly Posted Events
2004 State of Health Care Quality Report
Nationwide on September 27, 2004
presented by Kaiser Family Foundation
Consumer-Driven Health Care & Fringe Benefits
in Washington on September 30, 2004
presented by Employee Benefits Institute of America Inc. (EBIA)
Los Angeles Benefits Conference
in California on January 27, 2005
presented by IRS, ASPA, WP&BC and NIPA
What ERISA Fiduciaries, Litigators and Planners Need to Know About Settlements and Corrections
Nationwide on October 12, 2004
presented by ABA Joint Committee on Employee Benefits
Newly Posted Press Releases
Employees Facing New Plan Designs, Significant Benefit Changes During Open Enrollment Season - Watson Wyatt Identifies Seven Trends for 2005
(Watson Wyatt)
Annual Employee Benefits Conference Rescheduled November 30-December 4, 2004 In New Orleans
(International Foundation of Employee Benefit Plans)
Labor Department Announces Automatic Rollover Regulation To Preserve Savings for Retirement
(U.S. Department of Labor, Office of Public Affairs, Washington, D.C.)
New Ad Campaign From American Express Financial Advisors S Speaks From Investor Point Of View
(American Express Retirement Services)
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)
Anita Spencer (The Flex Company of America, Inc.)
Newly Posted or Renewed Job Openings
Pension Consultants/Administrators
for Northern NJ Mid-Size Pension Consulting Firm
in NJ
ERISA Attorney/ Consultant
for Towers Perrin
in NY
Relationship Manager
for MassMutual Financial Group
in IL
Actuarial Analyst/Consultant
for Matthews Benefit Group, Inc. in St. Petersburg, FL
in FL
Retirement Plan Administrator
for WESPAC
in CA
Pension Consultant
for Transamerica
in CA
Department Head, Corporate Client Service
for Search Innovations, Inc.
in AZ
Daily Valuation Operations Director
for Professional Capital Services, LLC
in DE, NJ, PA
401K Administrator - PA
for The Vanguard Group
in PA
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
Copyright 2004 BenefitsLink.com, Inc.; except that you can reprint this newsletter in full (if you also include this boilerplate part) without obtaining our permission.
Published by:
BenefitsLink.com, Inc.
https://benefitslink.com/about.html
1298 Minnesota Avenue, Suite H
Winter Park FL 32789
(407) 644-4146
Fax: (407) 644-2151
Editor and Publisher: David Rhett Baker, J.D.
Housekeeping: