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January 13, 2005
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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.
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15 Predictions for Consumer-Directed Health Care in 2005
Excerpt: "A year ago, ICDC asked industry experts what they thought would be the biggest consumer-directed health (CDH)-related trends of 2004. Most of their predictions were dead on. Health savings accounts (HSAs), combined with rising health coverage costs, they said, would make 2004 a pivotal year for CDH enrollment." (INSIDE CONSUMER-DIRECTED CARE via AISHealth.com)
Health Savings Accounts Market Is Growing Rapidly, According to America's Health Insurance Plans
Excerpt: "More than 438,000 U.S. residents signed up for health savings accounts and HSA-compatible high-deductible health insurance plans by the end of September 2004. America's Health Insurance Plans, Washington, presented those figures and other HSA market survey results here today at a press conference. AHIP estimates that at least 75 carriers are offering HSA-compatible health coverage, and the group has based its HSA market survey results on responses from 29 of those carriers." (National Underwriter)
Across the States: Profiles of Long-Term Care 2004
Excerpt: "Key facts and findings from AARP's Public Policy Institute to help policymakers and others assess state long-term care systems. Mary Jo Gibson, Steven Gregory, Ari Houser and Wendy Fox-Grage present a national overview of key long-term care issues, as well as state profiles with 85 indicators for each state and the District of Columbia." (AARP)
State May Pay More In Health Insurance Premiums For State Workers Than School Workers
Excerpt: "A federal district court properly dismissed a plaintiff's constitutional claims of equal protection and due process challenging the fact that the state of Arkansas contributes more for health insurance premiums for state employees than for public school employees. This was the ruling of the Eighth Circuit U.S. Court of Appeals in Carter v. State of Arkansas, et al. (No. 04-1017)." (Spencer Benefits Reports)
Administration Sick-Leave Policy Irks Massachusetts Lawmakers
Excerpt: "A new Romney administration policy on sick leave for executive branch employees has some lawmakers and unions upset, but the administration says it is simply trying to even the playing field for all state workers. At issue are individual sick-leave banks, which according to long tradition are set up to benefit state employees who are seriously ill. Co-workers may donate vacation, sick or personal days into the bank for a sick colleague forced to miss long periods at work." (The Berkshire Eagle)
Pres.cription Benefit Included in California Health Care Cuts; Plan Relies on Help from Drugmakers
Excerpt: "In a budget plan that imposes significant cutbacks on state health care spending, Gov. Arnold Schwarzenegger has proposed a program to help low-income Californians pay for pres.cription drugs, one of a handful of new health programs for the next fiscal year. The governor's 2005-06 proposed state budget, announced Monday, earmarks $3.94 million for Cal Rx, as the program is called. The administration says it will deliver cost savings of about 40 percent by relying on voluntary ...." (The San Francisco Chronicle via The Foundation for Taxpayer & Consumer Rights)
State of California Looks at More Ways to Require Health Insurance Coverage
Excerpt: "The novel concept of requiring Californians to have health insurance - like auto insurance - is drawing interest from Gov. Arnold Schwarzenegger and lawmakers who plan to introduce legislation making it mandatory. Modeled on a national plan by the New America Foundation, a Washington-based think tank, the 'universal coverage, universal responsibility' approach faces numerous political hurdles." (The Sacramento Bee)
Overview: HIPAA Portability Rules Finalized; Agencies Propose More Changes (PDF)
3 pages. Excerpt: "The final rules clarify certain issues regarding preexisting condition limitations, creditable coverage, special enrollment periods, and related areas that have arisen since the interim rules were published. The rules make changes in a few areas, most notably to the model certificate issued when group health plan coverage terminates, the list of what is considered creditable health coverage under HIPAA, special enrollments, and limited scope dental and vision." (Aon Consulting)
Heads of NCVHS, Office for Civil Rights Disagree on Government's Privacy Efforts
Excerpt: "Because of inadequate outreach, HIPAA is Greek to many people, with requirements like the privacy notice an empty gesture and 'rights' an illusion, says Mark Rothstein, chair of the privacy and confidentiality subcommittee of the National Committee on Vital Health Statistics (NCVHS), which advises HHS on HIPAA implementation." (REPORT ON PATIENT PRIVACY via AISHealth.com)
Public Comments Requested: U.S. Government Plans National Medical Records Information System
Excerpt: "The federal government is putting together a plan for digitizing (computerizing) every patient's medical record - a new national health information network (NHIN). The purpose: to more easily disclose, share, and disseminate your private medical record data as now permitted by the federal 'medical privacy' rule. The U.S. Department of Health and Human Services (HHS) wants to hear from you." (Citizens' Council on Health Care)
Arkansas Bill Makes Second Attempt at Any-Willing-Provider Law
Excerpt: "A bill filed with the Arkansas Legislature on Tuesday would prohibit managed care networks from practices that 'discriminate' against doctors and hospitals, a move the bill's sponsor says will put an 'any willing provider' law into effect. Senate Bill 43 is intended to open closed insurance networks such as those of Arkansas Blue Cross and Blue Shield, allowing health-care providers who are willing to meet an insurer's terms to see patients at in-network rates, said ..." (Arkansas Democrat-Gazette)
California Blues Markets a Hipper Health Plan to Young Adults
Excerpt: "WellPoint subsidiary Blue Cross of California is trying to persuade young adults ages 19 to 29 that having health insurance is not only smart and affordable, but as cool and trendy as iPods, cell phones with video screens, and a working knowledge of poker. The Thousand Oaks, Calif.-based company's new suite of PPO products for the individual market, collectively dubbed Tonik, is intended to attract young people who are essentially healthy and haven't felt a need for insurance, ...." (American Medical News)
Four U.S. Senate Committee Leaders Urge More Health Care Information Technology Funding
Excerpt: "Four Senate committee leaders have urged the Bush administration to include 'sufficient funding' for health care information technology in its fiscal 2005 budget proposal, CQ HealthBeat reports. Sens. Michael Enzi (R-Wyo.), Edward Kennedy (D-Mass.), Chuck Grassley (R-Iowa) and Max Baucus (D-Mont.) in a letter said the use of IT would be the most effective way to reduce costs and improve patient care. The letter called for the administration to propose a 'complete plan' for ...." (California Healthcare Foundation)
Dietary Guidelines for Americans 2005 Addresses Weight Loss for First Time
Excerpt: "Dietary Guidelines for Americans is published jointly every 5 years by the Department of Health and Human Services (HHS) and the Department of Agriculture (USDA). The Guidelines provide authoritative advice for people two years and older about how good dietary habits can promote health and reduce risk for major chronic diseases." (Executive Office of the President/Department of Health and Human Services)
Links to Items on Executive Comp, Benefits in General
Overview: Interpretations with Respect to 457(f) Plans under Guidance Provided under Notice 2005-1 (PDF)
16 pages. Excerpt: "According to IRS Notice 2005-1, taxpayers should note that although Code Section 409A makes a number of fundamental changes, it does not alter or affect the application of any other provision of the Code or common law tax doctrine (in particular, Code Section 457(f))." (Gardner Carton & Douglas)
Overview: FASB Ushers In New Era in Accounting for Stock Options
Excerpt: "After decades of controversy and over a year and a half of deliberations the Financial Accounting Standards Board (FASB) issued a new accounting standard that will require companies to recognize an accounting expense for stock option grants and other stock-based awards. Under the new standard, which amends FAS 123 and is referred to as FAS 123(R), companies will no longer be able to follow the intrinsic value accounting method of the prior standard, APB 25." (Towers Perrin)
Insurers and Producers Should Organize Team to Evaluate Current Contingent Compensation Practices
Excerpt: "It is clear that some disclosure of compensation will ultimately be required by each of the states in the West Coast region. Both insurers and producers should begin to organize a contingent compensation team to evaluate current practices and procedures. Outside counsel should be consulted to provide expertise on conducting the evaluation and to ensure that privilege remains intact in the likelihood of civil, criminal or regulatory action." (Bullivant Houser Bailey PC)
Overview: Treasury's Initial Guidance on Nonqualified Deferred Compensation
Excerpt: "Compliance with section 409A and Treasury's guidance will involve not only an analysis of the obvious tax implications of the new law, but also the myriad of securities law, employment law, corporate governance, and business and accounting issues that will accompany most companies' review and amendment of their compensation programs and agreements." (Womble Carlyle)
Overview: Nonqualified Deferred Compensation Gets Relief for 2005 (PDF)
7 pages. Excerpt: "This Alert focuses on the IRS transition relief and other initial guidance that was recently issued in Notice 2005-1. Of key importance, most so-called nonqualified deferred compensation plans and arrangements will not need to be amended until the end of 2005 to comply with the new rules, as long as the plans are operated in good faith compliance with §409A." (Aon Consulting)
Overview: IRS Guidance under Code Section 409A Affecting Nonqualified Deferred Compensation Plans (PDF)
19 pages. Excerpt: "With the release of IRS Notice 2005-1, nonqualified deferred compensation plan sponsors have the first set of guidance regarding amendments needed to comply with new Code Section 409A." (Gardner Carton & Douglas)
OPM Moves to Standardize Pay and Benefits Rules for Federal Employees
Excerpt: "The Office of Personnel Management wants to standardize many of the pay, leave and hours of work rules to help agencies migrate to the standardized government wide e-Payroll system. Proposed rules published by OPM in the Federal Register on Jan. 5 include policies for standardizing minimum leave charges, military leave, teleworkers' locality pay, compensatory time for religious observances, time limits on the use of compensatory time, elimination of hybrid work schedules, annual ...." (GOVEXEC.com)
Prepare Now for 2005 Deferred Compensation Grants
Excerpt: "Compensation managers should also be aware of the need to set up a tracking system to distinguish grants made before Dec. 31, 2004, which are grandfathered under the old rules, and grants made on or after Jan. 1, 2005, which fall under the new rules. 'You won't be allowed to 'mix and match' monies under the different rules,' [Judy Thorp of KPMG] said, so a tracking system is critical." (Stephen Miller via Society for Human Resource Management)
Overview: FASB Issues Final Standard on Share-Based Payments
Excerpt: "This Alert highlights some of the important changes in FAS 123(R) as compared to both the original Exposure Draft and FAS 123." (Aon Consulting)
Newly Posted Events
2006 Great Lakes Benefits Conference
in Illinois on May 15, 2006
presented by American Society of Pension Professionals & Actuaries (ASPPA)
401(k) Plans
in Ohio on April 19, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
403(b) and 457 Plans: An Expanding Pension Market Webcast
Nationwide on January 26, 2005
presented by American Society of Pension Professionals & Actuaries (ASPPA)
Demonstration of Online Tools For Consumers Enrolled in Consumer-Directed Health Plans
in District of Columbia on January 25, 2005
presented by Kaiser Family Foundation
Extensive New HIPAA Portability Regs Just Issued! - How to Comply
Nationwide on February 10, 2005
presented by HRTrainingCenter.com
Form 5500 Update
Nationwide on March 24, 2005
presented by McKay Hochman Co., Inc.
HIPAA Security Countdown: Are You Ready?
Nationwide on January 26, 2005
presented by International Foundation of Employee Benefit Plans
HSA 2005
in Illinois on May 17, 2005
presented by Business Capital Edge
HSAs, HRAs, & Consumer-Driven Health Care
in Ohio on April 21, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Introduction to Form 5500
Nationwide on March 22, 2005
presented by McKay Hochman Co., Inc.
McKay Hochman First Quarter 2005 Update
Nationwide on February 17, 2005
presented by McKay Hochman Co., Inc.
Ongoing Webinar: Designing Your Life in Retirement -- A Guide to Planning Your Future
Nationwide on January 17, 2005
presented by Planning For Life
Ongoing Webinar: The Enhanced Lifestyle Planner: Organize Your Thinking & Expand Your Goals
Nationwide on January 20, 2005
presented by Planning For Life
Online Course: HIPAA Security Rule Basics
Nationwide on January 13, 2005
presented by International Foundation of Employee Benefit Plans
Newly Posted Press Releases
Eldercare, Phased Retirement Programs Impact Men and Women Differently, Watson Wyatt Analysis Finds
(Watson Wyatt)
Gilsbar, Inc. Named One of New Orleans’ Best Places to Work for the Second Year in a Row
(Gilsbar, Inc.)
Is The Revolution Now? Health Savings Account Survey Will Track Market
(Spencer Benefits Reports)
CalPERS Launches Phone Tip Line to Monitor and Prevent Disability Fraud
(CalPERS (California Public Employees' Retirement System))
New Employee Wellness Benefit Introduced: The "Managing My Life" Series
(Planning For Life)
ASPPA Partners with University of Michigan to Deliver Education and Examination Program
(American Society of Pension Professionals & Actuaries (ASPPA))
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)
Jim Femia
(Sentinel Benefits)
Newly Posted or Renewed Job Openings
Senior Plan Administrator
for American National Insurance Company
in TX
FSA Manager/Administrator
for Primark Benefits
in CA
FSA Salesperson
for Primark Benefits
in CA
Recruiter
for S.C. INTERNATIONAL, LTD.
in
Manager, Disbursement Services
for ICMA Retirement Corporation
in DC
Employee Benefit Communication Services Consultant
for Employee Benefit Solutions, Inc.
in TX
401(k) Record keeper
for Hoyman Dobson & Company P.A. CPA's
in FL
Employee Benefits Attorney
for Marvel Consultants, Inc.
in OH
Retirement Plan Specialist (PART-TIME)
for Diversified Investment Advisors
in MI
Employee Benefits Technical / Legal Consultant II
for BB&T Institutional Services
in NC
Actuarial Analyst
for McGladrey & Pullen
in IL
OptionsPlus Senior Account Administrator
for Fiserv Investment Support Services
in CO
Senior DC Administrator
for Coble Pension Group, L.L.C.
in AZ
Regional Sales Manager
for McGladrey & Pullen
in MN
Sr. Communications Associate -- Business Development and Marketing
for Scottsdale AZ Consulting Firm - Benefits & HR Outsourcing
in AZ
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