| BenefitsLink Welfare Plans Newsletter |   |
January 26, 2005
Today's sponsor: Financial Research Associates
(Click on company name or banner to learn more.)
MEDICARE PART D IMPLEMENTATION SUMMIT April 28 – 29, 2005 • Washington D.C. To register: 800-280-8440 • Build effective education and outreach programs to ensure competitive enrollment • Understand the likely implications of “dual eligibles” on your plan • Learn how different pricing strategies will appeal to different market segments • Gain practical insight into effective contract negotiation strategies with manufacturers • Maximize your marketing budget by aligning your efforts with those of the CMS • Understand the special requirements for delivering Rx services in LTC facilities • Examine cost-effective formulary management techniques
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Is The Revolution Now? Health Savings Account Survey Tracks Market Trends
Excerpt: "Spencer Benefits Reports, Aspen Publishers, and CCH, Inc., continue to solicit employer data for the 2005 Survey Of Consumer-Driven Health, which will take the pulse of employers' responses toward Health Savings Accounts and Health Reimbursement Arrangements. Firms representing more than a quarter of a million employees already have been surveyed. Each employer that completes the survey will receive a copy of the published results upon request at no charge." (Spencer Benefits Reports)
High-Tech Alliance on Track for a Digital Health Network with the Interoperability Consortium
Excerpt: "Eight of the nation's largest technology companies, including I.B.M., Microsoft and Oracle, have agreed to embrace open, nonproprietary technology standards as the software building blocks for a national health information network." (The New York Times; one-time registration required)
Health Care Quality Matters: January 2005 Issue: Commercially Produced Quality Measures
Excerpt: "Summary: Consumers need to critically evaluate all sources of information about their health care, including the ranking systems that are increasingly being offered through their health plans and employers. Health care leaders and physicians, too, need to be sure they understand 'what's under the hood' when it comes to these commercially produced measures." (The Commonwealth Fund)
N.Y. Governor Proposes Hike in Hospital Bill Surcharge
Excerpt: "A 1996 New York law that already inflates employers' health care costs by hundreds of millions of dollars each year soon could cost employers even more. A state budget bill proposed earlier this month by Gov. George Pataki would increase and extend for two more years a surcharge on bills incurred in New York hospitals." (Business Insurance)
High-Cost Stents Yield Savings for Health Plans, but Not Hospitals
Excerpt: "Drug-eluting stents have been praised for their ability to maintain cleared arteries in patients with blocked blood vessels, reducing medical costs and improving patients' outcomes. This effective but expensive new technology -- part-pharmaceutical, part-medical device -- is driving up medical costs for both health insurers and hospitals." (MANAGED CARE WEEK via AISHealth.com)
Managed Care Plans Provide Robots to Increase Generic Drug Use
Excerpt: "Physicians are increasingly using robotic drug dispensers to encourage their patients to take generic drugs as a way to lower pharmaceutical costs, which managed care plans say are their fastest growing expense, American Medical News reports." (California Healthcare Foundation)
Lawyers Smolder over Michigan Firm's No-Smoking Policy
Excerpt: "Employment lawyers are up in arms about a decision by a Michigan company not to hire smokers, charging that the policy is blatantly discriminatory. Opponents say that such a personnel approach - which also forces all employees to be tested for tobacco use - goes legally overboard because it regulates smoking, a legal activity, the National Law Journal reported. But the company asserts that it is within its rights." (PLANSPONSOR.com; one-time registration required)
Opinion: Interstate Sale of Health Coverage Could Reduce Health Care Costs
Excerpt: "The Bush administration should '[a]llow interstate sales of health insurance,' which would reduce health care costs without 'cost[ing] a penny from the treasury,' David Gratzer, a physician and senior fellow at the Manhattan Institute, writes in a Wall Street Journal opinion piece. Gratzer notes that 'premiums vary greatly from state to state,' in part because '[m]any states dictate the type of services and providers' insurance companies must include, which 'drives up the price ....'" (Kaiser Family Foundation)
Overview: Final Rules on Medicare Part D Drug Benefits (PDF)
2 pages. Excerpt: "The Centers for Medicare & Medicaid Services (CMS) has released final regulations to implement the new pres.cription drug benefit under Part D of Medicare. This development has financial, accounting, plan management and communication implications for employers that currently provide post-65 retiree drug coverage. The regulations provide most of the answers that employers need to review the effectiveness of their retiree medical programs and evaluate potential tactical or ...." (Towers Perrin)
Pharmacy Benefit Managers Embrace New Technology to Enhance Efficiency and Service
Excerpt: "From the use of comprehensive company Web sites to computer systems that integrate medical and pharmaceutical data, pharmacy benefit managers (PBMs) are embracing technology to improve speed and accuracy and to provide better customer service." (DRUG BENEFIT NEWS via AISHealth.com)
Drug Manufacturers Raising Prices on Popular Medications
Excerpt: "Ending a 'summer lull ahead of the politically sensitive election season,' pharmaceutical companies have begun raising prices on their products, with many increases surpassing economists' estimates of a 2.5% consumer inflation rate, the Wall Street Journal reports. According to Delta Marketing Dynamics, 31 of the 50 biggest-selling medications in the pharmaceutical industry saw price increases between November 2004 and Jan. 19, up from 22 of the top 50 one year ago." (Kaiser Family Foundation)
Webcast: Online Tools for Consumer-Directed Health Plan Enrollees
Excerpt: "On Jan. 25, 2005, Kaiser Family Foundation hosted a demonstration of the online tools made available to enrollees in consumer-directed health plans. Executives from Humana and Lumenos -- two major firms in the consumer-directed care market -- conducted real-time demonstrations of their consumer web tools to show how enrollees might manage the costs and quality of their care." (Kaiser Family Foundation)
Providers Worry about Getting Paid under Consumer-Directed Health Care Plans
Excerpt: "To date, few health care providers have had much experience with -- or have even heard of -- consumer-directed health (CDH) plans. The few who are familiar with the concept, though, worry that the high deductibles associated with the plans will translate to patient-collection problems and increased bad debt." (INSIDE CONSUMER-DIRECTED CARE via AISHealth.com)
Senator Kerry Proposes Universal Health Coverage for All Children
Excerpt: "Vowing to use his new 'national voice' in the wake of his presidential campaign, Senator John F. Kerry yesterday unveiled a sweeping plan to bring health coverage to all children, paid for by repealing recent tax cuts for the highest-income Americans." (The Boston Globe)
Senator Kerry Introduces Legislation to Provide Health Insurance for Children
Excerpt: "Sen. John Kerry (D-Mass.) on Monday introduced a bill that would provide health insurance to all U.S. children in his 'first major initiative' since he lost the presidential election last November and resumed his position on the Senate Finance Committee, Roll Call reports." (Kaiser Family Foundation)
Links to Items on Executive Comp, Benefits in General
Survey Results Summary: Domestic Partner Benefits Up, Signing Bonuses Down in 2005
Excerpt: "The number of employers offering domestic partner benefits is on the rise, but so are health care deductibles, according to the annual BLR Survey of Employee Benefits. The annual survey for 2005 shows that the number of employers offering benefits to domestic partners has increased over the past two years, with 13% offering such benefits in 2003 compared to 19% in 2005 for exempt and nonexempt office employees." (PLANSPONSOR.com; one-time registration required)
As Benefits for Veterans Climb, Military Spending Feels Squeeze
Excerpt: "With the wars in Iraq and Afghanistan badly straining its forces, the Pentagon is facing an awkward problem: Military retirees and their families are absorbing billions of dollars that military leaders would rather use to help troops fighting today." (Wall Street Journal via SFGate.com)
Help Wish Dave Baker's Wife, Lois, a Happy Birthday
Help me wish my wife, Lois, a happy birthday! It's one of those 'black balloon' birthdays, but prudence dictates that I don't reveal which one. Drop her an email at lois@fibergypsy.com. Thanks! (Dave Baker, Publisher of BenefitsLink.com)
Newly Posted Events
Communicating your ESOP
Nationwide on June 1, 2005
presented by National Center for Employee Ownership
ESOP Feasibility: Beyond the Basics
in Missouri on March 14, 2005
presented by National Center for Employee Ownership
ESOPs as a Business Transition Tool
Nationwide on March 9, 2005
presented by National Center for Employee Ownership
Floating Rate Notes as an ESOP Investment Choice
Nationwide on April 6, 2005
presented by National Center for Employee Ownership
Handling the Repurchase Obligation
Nationwide on May 17, 2005
presented by National Center for Employee Ownership
Insurance Brokers - The Impact of Allegations of Corruption
Nationwide on January 27, 2005
presented by West LegalEdcenter
Is an ESOP Right for You?
in California on March 9, 2005
presented by National Center for Employee Ownership
Is an ESOP Right for You?
in California on March 23, 2005
presented by National Center for Employee Ownership
Is an ESOP Right for You?
in Colorado on April 5, 2005
presented by National Center for Employee Ownership
Is an ESOP right for you?
in Idaho on April 6, 2005
presented by National Center for Employee Ownership
Is an ESOP right for you?
in Oregon on April 7, 2005
presented by National Center for Employee Ownership
Is an ESOP right for you?
in Pennsylvania on April 14, 2005
presented by National Center for Employee Ownership
Is an ESOP right for you?
in California on May 24, 2005
presented by National Center for Employee Ownership
Pension Focus 2005 Conference
in Missouri on May 12, 2005
presented by Pension Consultants, Inc.
S Corporation ESOP's
Nationwide on March 22, 2005
presented by National Center for Employee Ownership
Share Equity: Create Value 2005 Conference
in California on April 20, 2005
presented by National Center for Employee Ownership (NCEO) and the Beyster Institute
Newly Posted Press Releases
CPI Enhances Plan Sponsor Internet Site with Conversion Status Features
(CPI Qualified Plan Consultants, Inc.)
ComplianceAid, LLC releases free "HIPAA Reference and Best Practices Quick Guide – Portability Notices."
(ComplianceAid, LLC)
Newly Posted or Renewed Job Openings
Principal Administrative Analyst
for University of California, Office of the President
in CA
Retirement Plan Coordinator
for American Funds
in VA
Defined Contribution Consultant
for Medium Size Midwestern Consulting firm
in OH
Senior Implementation Specialist
for CitiStreet
in NJ
Team Leader - US Outsourcing
for Mercer Human Resource Consulting
in IL, MA
Pension Account Coordinator
for Benefits Resource Group
in OH
Benefits Project Manager
for Hewitt Associates
in IL
Pension Administrator
for Boyce & Associates, Inc.
in AZ
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Copyright 2005 BenefitsLink.com, Inc.; except that you may reprint this newsletter in full (including this sentence) without obtaining our permission.
Published by:
BenefitsLink.com, Inc.
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Editor and Publisher: David Rhett Baker, J.D.
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