| BenefitsLink Welfare Plans Newsletter |   |
December 13, 2004
Today's sponsor: The National Underwriter Company
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National Underwriter publications in the BenefitsLink Bookstore! The National Underwriter Company is regarded as one of the premiere publishers of professional references. A leader in publications and online services in the areas of Financial Planning, Employee Benefits & Retirement Planning as well as Life & Health and Risk Management since 1897. Click above to see the list of informative publications.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Text of Proposed GASB Statement on Accounting for Termination Benefits (PDF)
25 pages. Excerpt: "Under this proposal, an employer that offers a termination benefit in the form of healthcare benefits provided to a group that also includes active employees would be required to separate the cost of healthcare for terminated employees from the cost for active employees in the group. The proposal would require such benefits to be measured based on projected total claims costs (or age-adjusted premiums approximating claims costs) for terminated employees." (Governmental Accounting Standards Board)
MEWA Sponsor and Individual Corporate Officers Liable for Breach of Fiduciary Duty
Excerpt: "The DOL filed this suit alleging breach of fiduciary duty by (among others) two individuals who established a company to sponsor a self-funded multiple employer welfare arrangement ... The plan sponsor collected almost $26 million in premiums but had only about $200,000 in the bank and between $5 million and $17.5 million in unpaid claims when the DOL sued." (Employee Benefits Institute of America Inc. (EBIA))
COBRA Coverage Began Retroactively Despite Late Election Notice; Statutory Penalties Awarded
Excerpt: "[A]lthough this court found in favor of the employer on the retroactive premium issue, we continue to recommend caution in determining the amount and timing of the initial premium payment when a late COBRA election notice is provided." (Employee Benefits Institute of America Inc. (EBIA))
Text of HHS Semiannual Regulatory Agenda (PDF)
66 pages. (Department of Health & Human Services)
Employer Failed to Provide Full and Fair Review of Claims Administrator's Denial
Excerpt: "[T]he employer improperly deferred to the claims administrator's initial claim determination because, in gathering information for the appeal, the employer asked the claims administrator to send 'only . . . pertinent back-up information that supports [the claims administrator's] decision.' In addition, the employer decided that the claim was for an item that was not medically necessary, but sought no medical advice in making the determination ..." (Employee Benefits Institute of America Inc. (EBIA))
Programs to Test Chronic Care Strategies
Excerpt: "CMS (Centers for Medicaid and Medicare) [last] week announced its picks for companies to participate in 10 experimental programs to manage care of patients with chronic conditions. The hope is that keeping these patients healthier will improve their lives -- and save the government money." (eWeek)
Opinion: Why Can't We Buy Health Insurance Online?
Excerpt: "Congressman John Shaddegg (R-AZ) has a bill that would allow us to purchase health insurance online; it's called the Health Care Choice Act. Consumers would be able to use the Internet or physically go to another state and buy a health insurance policy. The policy they buy would contain the benefits from the state where the consumer purchased the policy. The bill has picked up momentum ... " (Karen Kerrigan via Insurance Newscast)
Opinion: Consumers Are Paying the Hidden Price for Health Care
Excerpt: "[I]t's time for business to mobilize its army of lobbyists for a national system of coverage that is comprehensive and competitive, and contains strong incentives not to spend. Like car insurance, it has to be mandatory ..." (New York Times; one-time registration required)
Make Sure Employees Take Time Off, Doctor Advises
Excerpt: "Taking a vacation: You wouldn't think it would be such a difficult task. Mel Borins frets that it has become one. The medical doctor, public speaker and author of the books 'Go Away Just for the Health of It' and 'An Apple a Day: A Holistic Health Primer' discusses this odd problem ..." (Workforce.com; one-time registration required)
Link to New Online Human Life Calculator
Excerpt: "How much insurance do you need? Will your current insurance be enough? Use this simple calculator to find out." (MetLife)
Links to Items on Executive Comp, Benefits in General
Year-End Reminders for Benefit Plan Sponsors (PDF)
At pp. 10-11 of 14-page document. (Kutak Rock LLP)
Elaine Chao to Remain as DOL Secretary for Second Bush Term
Excerpt: "[I]t was announced that Labor Secretary Elaine Chao will remain in her post during President Bush's second term." (HR Policy Association)
Newly Posted Press Releases
Employees, CEOs Saw Stock Option Values Decline Sharply Between 2001 and 2003, Watson Wyatt Study Finds
(Watson Wyatt)
Milliman Experts Address Benefits of `True Group Long-Term Care' in New White Paper for Insurers
(Milliman USA)
National Business Coalition On Health And Local Coalitions Launch Bridges To Excellence Initiative
(National Business Coalition on Health)
Newly Posted or Renewed Job Openings
Vice President - Relationship Management
for BISYS Retirement Services
in PA
Division Head Client Services
for TPA company based in PA
in PA
DC Benefits Operations Manager
for Hewitt Associates
in CA
Human Resources - HR Benefits Representative
for Central Virginia Electric Cooperative
in VA
Client Services / Account Manager
for ExpertPlan, Inc.
in NJ
Part Time Actuary
for Howard Simon & Associates, Inc.
in IL
Pension Consultant / Administrator
for White Plains NY Mid-Sized Pension Consulting Firm
in NY
Premier Wealth Plan Implementation Mgr.
for Merrill Lynch
in NJ
Consulting Actuary
for RSM McGladrey, Inc.
in IL
Handy Links:
- View Today's Active Message Threads
- Search BenefitsLink
- Using the Web for Employee Benefits Research
- Employee Benefits Library
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