January 5, 2005 Today's sponsor: BeneCom Associates, LLC (Click on company name or banner to learn more.) BeneCom Associates, LLC, for one-stop benefit communications Since 1992, BeneCom has produced benefit communications, including enrollment materials, SPDs, benefit statements, newsletters and more, for companies large and small, nationwide. So if you've been looking for an independent benefit communications specialist, look no further. Click above for more information, or give us a call at (860) 674-2626, Ext. 11, or (770) 461-5559. We're here to help. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) The Weight Debate -- Continued in Terms that Might Not Have Occurred to You Before -- Think Heresy Excerpt: "Yes, we're going to present the views of people who indulge in what many regard as health care heresy. They challenge the conventional wisdom that millions of Americans need to lose tons of weight, fast, to stave off diabetes, heart disease, cancer. They suggest that at least one of these numbers, BMI, doesn't matter much at all, and that if you take care of business (i.e., your cardiorespiratory and metabolic fitness), the stayin'-alive significance of most of the other numbers ...." (Managed Care) Health Care Company + Untested New Plan Design = Employees Become the Focus Group Excerpt: "While the insurer is trying to curb its own health care cost increases with a long-term plan to avoid medical costs by preventing illness and reducing employees' health risk factors, it also is testing the program with the goal of bringing similar products to its client base. It's up to Medical Mutual's employees to provide feedback on how the project is designed and whether or not it works." (Managed Care) Flexible Work Schedules Among Employers Are on the Rise Excerpt: "More than half of all U.S. companies are offering their employees flexible work schedules, according to job experts. The Bush administration in 2004 made changes in rules regulating overtime, which could lead to mandatory comp-time and flex-time benefits. Organized labor and other worker advocacy groups have contended that the changes will eliminate the option of taking overtime pay for 8 million employees." (Kansas City Star; one-time registration required) NCHICA Creates Task Force to Study National Health Information Network Excerpt: "The North Carolina Healthcare Information and Communication Alliance has created a task force to gather information about the development of a national health information network .... .... The NCHICA, which includes more than 250 health care providers and communications vendors, said in a statement that it wants to 'steer the federal government away from a costly solution' that would prevent widespread adoption of 'convenient communications and an electronic patient record' ...." (California Healthcare Foundation) Research Leads to Pay for Quality Performance that Binds Physicians, Plans and Hospitals Together Excerpt: "Brent James's ideas about health care quality improvement are ahead of their time, even prescient. Many health care leaders agree that his work as executive director of the Intermountain Health Care Institute for Health Care Delivery Research in Salt Lake City often reflects the way health care should be delivered. 'They often seem to be doing things before other people do them,' ...." (Managed Care) State of California Proposes HMO Drug Regulations to Implement 2002 Law on Coverage Excerpt: "The rules are meant to implement a 2002 law protecting pres.cription coverage. Co-payment size remains an issue. California regulators proposed pres.cription drug protections for HMO members Tuesday, describing the rules as the nation's first to mandate broad coverage of medically necessary medications. Although they hailed the thrust of the draft regulations, patient advocates said they feared vague language could allow health maintenance organizations to raise drug co-payments ...." (Los Angeles Times; one-time registration required) Editorial Series Examines U.S. Health Care System Reform Excerpt: "The St. Louis Post-Dispatch last week published a seven-part editorial series on the national health care system. Summaries of the articles in the series, titled 'Health Care: A Sick System,' [with links to each article, are provided here].' (The National Journal Group, Limited via BlueCross BlueShield Association) Links to Items on Executive Comp, Benefits in General Changes to Current Tax Forms and Publications: New Code Z for Box 12 on the 2005 Form W-2 Scroll down target page to Code Z entry. Excerpt: "A new code (Code Z -- Income under section 409A on a nonqualified deferred compensation plan), for use in box 12 on the 2005 Form W-2, has been added to the 2005 Form W-2 and the Instructions for Forms W-2 and W-3. This code and other reporting will be used to identify income recognized due to participation in a nonqualified deferred compensation plan that fails to meet the requirements of Internal Revenue Code section 409A that was added by ...." (U.S. Internal Revenue Service) G.ay Spouses Press Benefits Case in R.I.: Judge Set to Rule on Mass. Woman's Retirement Health Plan Excerpt: "In a case thought to be the first of its kind in Rhode Island, a Massachusetts woman who retired from teaching in the neighboring state has asked that her health insurance benefits be extended to her same-sex spouse." (The Boston Globe) Overview: New Deferred Compensation Guidance from Treasury (PDF) 6 pages. Excerpt: "The Treasury Department and the Internal Revenue Service have released Notice 2005-1, which provides initial guidance on new Internal Revenue Code ... Section 409A, a statute that requires major restructuring of non-qualified deferred compensation programs. The guidance provides welcome transition rules for companies to comply with Code Section 409A, and essentially designates 2005 as a transition period assuming plans are operated in good faith compliance with Code ...." (Dow, Lohnes & Albertson, PLLC) Overview: IRS Issues Initial Guidance Under Section 409A of the Internal Revenue Code Excerpt: "On December 20, 2004, the IRS and Treasury Department issued the first part of what is expected to be a series of guidance concerning the application of §409A of the Internal Revenue Code of 1986, as amended .... See Notice 2005-1, 2005-2 I.R.B. __. Section 409A of the Code was enacted as part of the American Jobs Creation Act of 2004, and provides that amounts deferred under a nonqualified deferred compensation plan will be includible in gross income to the extent not subject to ...." (BNA Tax Management) Overview: New IRS Rulings Include Signing Bonuses and Cancellation of Contract Payments as 'Wages' (PDF) 3 pages. Excerpt: "On November 23, the IRS released Revenue Rulings 2004 109 and 2004-110, in which it expanded the definition of 'wages' for employment tax purposes (Federal Insurance Contributions Act (FICA), Federal Unemployment Tax Act, and Federal income tax withholding)." (Morgan Lewis) Newly Posted Events Advanced IRAs 2005 in Ohio on March 9, 2005 presented by BISYS Retirement Services Advanced IRAs 2005 in Kansas on March 9, 2005 presented by BISYS Retirement Services Advanced IRAs 2005 in Ohio on March 11, 2005 presented by BISYS Retirement Services Advanced IRAs 2005 in Florida on March 16, 2005 presented by BISYS Retirement Services Advanced IRAs 2005 in Arizona on March 16, 2005 presented by BISYS Retirement Services Advanced IRAs 2005 in California on March 18, 2005 presented by BISYS Retirement Services Advanced IRAs 2005 in Georgia on March 18, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in Ohio on March 8, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in Kansas on March 8, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in Ohio on March 10, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in Florida on March 15, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in Arizona on March 15, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in Georgia on March 17, 2005 presented by BISYS Retirement Services Basic IRAs 2005 in California on March 17, 2005 presented by BISYS Retirement Services IRA Online Institute Nationwide on May 9, 2005 presented by BISYS Retirement Services IRA Online Institute Nationwide on September 12, 2005 presented by BISYS Retirement Services Newly Posted Press Releases Non-Qualified Deferred Compensation Legislation and Regulations (Worldwide Employee Benefits Network (WEB) - NJ) Upcoming Tax and Accounting Changes for Stock Options and Other Equity Incentives (Waller Lansden Dortch & Davis) Newly Posted or Renewed Job Openings Senior Counsel - Benefits Administration for Target Corporation in MN Director of Life & Health Benefit Programs for USI Consulting Group in NY Pension Administrator Senior DC person for Campbells Administration Inc. in CA Customer Service Representative for Leggette Actuaries, Inc. in TX Benefits Recordkeeper for Small benefits consulting firm in northern New Jersey in NJ Handy Links:
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