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March 24, 2005
Today's sponsor: World Congress
(Click on company name or banner to learn more.)
The World Congress 1st Annual Human Capital Management Congress The World Congress is proud to present the 1st Annual Human Capital Management Congress taking place this October 31 - November 2, 2005 at the Omni Shoreham Hotel in Washington, DC. The HCMC will bring together the most innovative and knowledgeable industry experts addressing the most pertinent issues relating to health and human capital management. The event is uniquely designed to discuss the impact of benefits on employee productivity, healthcare costs and overall company competitiveness.
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Employers Look to Medicare Plans for Help With Retiree Medical Coverage
Excerpt: "Experts say most employers that provide group retiree health benefits are likely to stay with their current coverage plans next year, despite the wide array of new Medicare pharmacy coverage options available starting Jan. 1, 2006." (MANAGED CARE WEEK via AISHealth.com)
Survey Shows Employee Assistance Programs Are Top Outsourced Function
Excerpt: "Employee assistance programs are the most commonly outsourced function, according to the Human Capital Management (HCM) poll from outsourcing firm Genesys. With 62% of respondents identifying it as the most popular function to outsource, employee assistance programs led background screening (54%), payroll processing (50%), benefits administration (49%), and payroll tax filing (42%)." (PLANSPONSOR.com; one-time registration required)
Senator Calls for Privacy Protections in Federal Health Benefits Program
Excerpt: "A senior Democratic senator called on the Office of Personnel Management Tuesday to strengthen the protection of personal health information for those in the Federal Employees Health Benefits Program." (GovExec.com)
Issue Brief: More Americans Willing to Limit Physician-Hospital Choice for Lower Medical Costs
Excerpt: "More Americans are willing to limit their choice of physicians and hospitals to save on out-of-pocket medical costs, according to a new national study by the Center for Studying Health System Change (HSC). Between 2001 and 2003, the proportion of working-age Americans with employer coverage willing to trade broad choice of providers for lower costs increased from 55 percent to 59 percent -- after the rate had been stable since 1997." (Center for Studying Health System Change)
Report: Outcomes-Based Physician Compensation: Pay-for-Performance Design Principles (PDF)
39 pages. Excerpt: "This document provides a set of design principles to guide the development of pay-for-performance programs. Each principle was carefully developed for review by a 23-member steering committee that convened regularly over a five-month period. The committee was composed of practicing physicians, health plan administrators, disease management administrators, large employer purchasers, an actuary and academic researchers." (Johns Hopkins and American Healthways)
Abstract of 'Inquiry' Article: The Managed Care Backlash: Did Consumers Vote with Their Feet?
Excerpt: "The managed care backlash led many to predict the demise of health maintenance organizations (HMOs). This paper examines trends in HMO enrollment in all metropolitan communities from 1994 to 2000 to identify factors that led to diminishing enrollment in the backlash era and circumstances in which HMOs maintained or expanded their presence." (RAND)
Growth of Health Savings Accounts Could Translate Into Shrinking Revenues for Health Plans
Excerpt: "By 2012, fees related to health savings accounts (HSAs) could top $1 billion, according to a new report from Cambridge, Mass.-based Forrester Research, Inc. While that's great news for the financial firms that have jumped into the HSA market as account administrators, it means many health plans will watch their slice of the health care payment pie shrink steadily during the next several years." (INSIDE CONSUMER-DIRECTED CARE via AISHealth.com)
General Motors to Seek Cuts in Union Health Benefits
Excerpt: "Facing their worst financial outlook in years, executives at General Motors said yesterday that they wanted union workers to accept the same health benefit cuts already taken by white-collar workers. 'We need a competitive plan for all of our employees,' said Gary Cowger, G.M.'s head of North American operations, .... 'An across-the-board competitive health care plan for salaried and hourly employees could save us billions of dollars a year.'" (The New York Times; one-time registration required)
Status of Proposed California Ballot Measures Addressing Pres.cription Drug Costs Examined
Excerpt: "The San Diego Union-Tribune on Wednesday examined the 'battle between consumer groups and the pharmaceutical industry' over lower-cost pres.cription drugs that is 'threatening to escape the confines of the Legislature and escalate into a full-scale ballot war in the fall.' The article highlighted the status of various groups' proposed ballot measures." (California HealthCare Foundation)
Consumer-Driven Health Plans Growing, According to Survey
Excerpt: "Roughly one in five surveyed companies currently offers a consumer-driven health plan, and about half of those that don't are considering such a plan, a survey has found. Chicago-based Aon Consulting and the Brookfield, Wis.-based International Society of Certified Employee Benefit Specia.lists polled more than 200 benefit managers and found that 22% of companies currently offer a consumer-driven option, providing a health reimbursement arrangement, health savings account or both." (Business Insurance)
Change in Challenging Times: A Plan for Extending and Improving Health Coverage
Excerpt: "[The authors] propose a plan that insures all and improves the value and cost-effectiveness of health care by knitting together employer-sponsored insurance and Medicaid; promoting prevention, research, and information technology; and financing its investments through a dedicated value-added tax." (Health Affairs)
Towers Perrin U.S. Legislative Tracking Charts — Health and Welfare -- Updated March 21, 2005 (PDF)
10 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin)
HSA Marketplace
Excerpt: "Since the Jan. 1, 2004, effective date for health savings accounts (HSAs), health insurers have flooded the HSA marketplace with different products and partnerships. Click here for a spotlight of the latest news." (Spencer Benefits Reports)
Advisers to Employers Cautioned to Look Out for Health Savings Account Fees
Excerpt: "A new report foretells health savings accounts will produce more than a billion dollars in fees - paid by employers - over the next seven years. That figure demands that advisers know what the options are for their clients. The report (http://www.forrester.com/), issued by Forrester Research, estimates that combined account, asset management and transaction fees will be about $1.2 billion in 2012." (The Adviser)
Links to Items on Executive Comp, Benefits in General
Financial Reporting: FASB Mandates How Companies Should Account for Share-Based Compensation
Excerpt: "Companies this year must use the fair value method to value options and other share-based compensation. This article will explain the financial statement changes and offer a firsthand account from a CPA and CFO who began expensing options in 2003." (Journal of Accountancy)
Appeals Court Rules No Workers Compensation Death Benefits for NY State Domestic Partners
Excerpt: "A workers compensation law that excludes death benefits for domestic partners passes constitutional muster, a New York appeals court ruled last week. The claimant in Valentine vs. American Airlines was a New York City-registered domestic partner for 21 years with a man who died in November 2001 while working as a flight attendant. The two owned a home together, jointly held bank accounts and designated each other as executors and beneficiaries in legal documents, court records show." (Business Insurance)
Towers Perrin U.S. Legislative Tracking Charts — Human Resources -- Updated March 21, 2005 (PDF)
5 pages. Excerpt: "These charts summarize selected federal legislation that would affect employee benefit programs. The bills included on the charts are based on judgments regarding the prominence of the issue, the likelihood of enactment, and the influence of the sponsors." (Towers Perrin)
Hewitt Federal Legislation Quick Guide Updated as of March 22, 2005
Excerpt: "Hewitt's Federal Legislation Quick Guide provides short updates on federal legislation that is currently under active consideration by Congress or has recently been enacted into law regarding health and welfare benefit plans, retirement plans, and human resources and employment law." (Hewitt Associates)
Medicare Report Emphasizes Shortfall: Medicare's Financial Outlook Has Deteriorated on All Fronts
Excerpt: "The two independent trustees overseeing Social Security and Medicare broke with the Bush administration's trustees yesterday, saying Medicare's financial problems far exceed Social Security's and are in urgent need of attention." (The Washington Post; one-time registration required)
Newly Posted Events
401(k) Plans
in Massachusetts on May 17, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
401(k) Symposium
in Massachusetts on June 23, 2005
presented by SunGard Corbel
Cafeteria Plans
in Massachusetts on May 18, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
COBRA Compliance for Group Health Plans
in Massachusetts on May 20, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Designing Retirement Plans: 2006 and Later
in Illinois on June 9, 2005
presented by ASPPA Benefits Council of Chicago
ERISA Compliance for Health & Welfare Plans
in Massachusetts on May 19, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA Portability, Privacy & Security
in Minnesota on May 13, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HIPAA Portability, Privacy & Security
in Massachusetts on May 20, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
HSAs, HRAs, & Consumer-Driven Health Care
in Massachusetts on May 19, 2005
presented by Employee Benefits Institute of America Inc. (EBIA)
Sexual Harassment? 401(k) Plan Headaches? Payroll Tax Problems? -- A Compliance Seminar for HR Professionals
in District of Columbia on April 5, 2005
presented by Swidler Berlin LLP
Newly Posted Press Releases
Sun Life Financial Expands Partnership with Assist America to offer SecurAssist® Services to Group Life Customers
(Assist America, Inc.)
Digital Documents, LLC Releases Their Latest Document Scanning Services Vendor Evaluation Matrix to Assist Organizations in Selecting a Document Scanning and Imaging Services Vendor.
(Digital Documents, LLC--The Leader in Document Scanning and Imaging Services)
Movers and Shakers: Newly Posted Announcements of Promotions and New Personnel
(Post Yours!)
Mullin Consulting Appoints Matthew Andersen as Senior Managing Consultant
(Mullin Consulting, Inc)
James C. Paul
(Downey Brand LLP)
Newly Posted or Renewed Job Openings
401k Account Executive
for BISYS Retirement Services
in PA
Actuarial Associate- Retirement
for Towers Perrin
in CT, DC, GA, MA, NJ, NY, PA
ERISA Attorney/ Consultant
for Towers Perrin
in MA
Pension Plan Coordinator
for Transamerica
in GA
Compliance Analyst
for Great-West Corporate
in WI
Defined Benefit Administrator
for Great-West Corporate
in WI
DB Implementation Analyst
for Milliman
in TX
Pension Specialist
for Milliman
in TX
Installation Administrator
for Transamerica
in CA
Compliance Analyst
for Great-West
in CO
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