| BenefitsLink Welfare Plans Newsletter |   |
March 31, 2005
Today's sponsor: International Quality & Productivity Center (IQPC)
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Learn Proven Methods to Reduce your Healthcare Costs! 3rd ANNUAL HEALTHCARE COST CONTAINMENT STRATEGIES FOR EMPLOYERS April 27 - 28, 2005 * Miami, FL Hear 14 new case studies on how to reduce your healthcare costs by implementing disease management, wellness and consumer-driven healthcare programs. Learn best practice tips from some of the most successful US companies including: Microsoft, JP Morgan Chase and Georgia-Pacific. Click above or Visit http://www.iqpc.com/NA-1790-03/enews Register by February 28th and save $200!
(Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor)
Judge Blocks Rule Allowing Companies to Cut Benefits When Retirees Reach Medicare Age
Excerpt: "A federal district judge on [March 30, 2005] blocked a Bush administration rule that would have allowed employers to reduce or eliminate health benefits for retirees when they reach age 65 and become eligible for Medicare." (The New York Times; one-time registration required)
Employer Groups Lobbying Against Proposed 7.65% Federal Tax on Cafeteria Plan Employee Benefits
Excerpt: "Employer groups are lobbying against a proposal to levy a 7.65% federal tax on employee benefits that are offered through cafeteria plans. The proposal, developed by the Joint Committee on Taxation, would make the benefits subject to FICA taxes and generate $164 billion for Social Security and Medicare over 10 years. Lawmakers potentially could use the committee's recommendation as a way to fund a variety of new bills." (BenefitNews Connect)
ABC March 28, 2005, Comment Letter to DOL, IRS, and HHS Regarding HIPAA Portability Proposed Rules (PDF)
8 pages. Excerpt: "The purpose of this letter is to raise concerns regarding the following proposed rules: I. Counting creditable coverage; II. Tolling of the special enrollment period; III. Special enrollment requests; IV. Newborn enrollment; and V. FMLA educational statement." (American Benefits Council)
New Method Helps Determine ROI of Health Care Management
Excerpt: "The Institute for Health and Productivity Management has introduced a new method for employers to use to measure the return on investment in disease management and other advanced care management services." (Business Insurance)
Senators Discuss Competing Pres.cription Drug Reimportation Bills
Excerpt: "Sens. David Vitter (R-La.) and John Thune (R-S.D.) recently have been meeting with Sen. Byron Dorgan (D-N.D.) to discuss competing bills that would allow U.S. residents to import lower-cost pres.cription drugs from other countries, the Hill reports. According to the Hill, the senators have been meeting to discuss 'how a reimportation measure might move on the [Senate] floor.'' (The National Journal Group, Limited via BlueCross BlueShield Association)
Employee Health Care Decision-Making through Communication and Technology (PDF)
2 pages. Excerpt: "A high priority for the success of the new health and welfare programs is a significant change in how health care is used. Part of the role of communication is creating change -- in behavior, thinking, and sometimes beliefs about the role of health care coverage. On one hand, the answer is still to implement a well-developed, audience-appropriate communication strategy aimed at helping employees make thoughtful decisions for their families' needs." (Aon Consulting)
Hospital Bills: Comparison Shopping in Gibberish Resists Informed Consumers
Excerpt: "The whole idea of consumer-driven healthcare rests on consumers being able to make informed choices on their care based on price and quality. Much emphasis has already been placed on developing consumer-driven health plan products. Somewhere along the line, a key ingredient has mostly been overlooked: What good is consumer-driven healthcare when consumers can't understand a hospital bill?" (HealthLeaders News)
Opinion: Tax Treatment of Health Insurance and Tax Fairness
Excerpt: "The Tax Reform Commission heard testimony yesterday from star witnesses Gene Steuerle of the Urban Institute and Mark Pauly of the Wharton School about the essential importance of addressing the tax treatment of health insurance. The hearing in New Orleans focused on tax fairness and how the tax system affects families. The $150 billion-plus annual subsidy for job-based insurance fails the test of fairness and has a big impact on families. It is the single largest tax preference ...." (Galen Institute)
Links to Items on Executive Comp, Benefits in General
Summary: FASB Issues FIN 47 on Accounting for Conditional Asset Retirement Obligations
Excerpt: "The Financial Accounting Standards Board (FASB) issued today, FASB Interpretation No. 47, Accounting for Conditional Asset Retirement Obligations (FIN 47). Per FASB's press release, FIN 47 will result in (a) more consistent recognition of liabilities relating to asset retirement obligations, (b) more information about expected future cash outflows associated with those obligations, and (c) more information about investments in long-lived assets because additional asset retirement ...." (Financial Executives International)
Commentary: Supreme Court Issues Important ADEA Opinion in Smith v. City of Jackson
Excerpt: "From SCOTUSblog this morning: The Supreme Court, in a major legal victory for older workers, ruled 5-3 Wednesday that employees need not show intentional discrimination against them based on age in order to win a case under federal law. They can prevail on a theory that an employer's job practice had a more negative impact on older than younger workers." (Attorney B. Janell Grenier via BenefitsBlog.com)
Supreme Court Removes Hurdle to Suits Alleging Age Bias in Employment
Excerpt: "Workers who sue their employers for age discrimination need not prove that the discrimination was intentional, the Supreme Court ruled on Wednesday. Adopting a pro-worker interpretation of the federal law that prohibits age discrimination in employment, the 5-to-3 decision held that employees can prevail by showing that a policy has a discriminatory impact on older workers, regardless of the employer's motivation." (The New York Times; one-time registration required)
Executive Compensation: Are You In Compliance? Congress and the SEC Are Watching... (PDF)
3 pages. Excerpt: "Regulation of executive compensation disclosure and deferrals is, like it or not, on the increase and getting more complicated. In-house counsel ought to review their disclosure and deferral practices to determine what needs revision. The failure to do so could result in embarrassing adverse publicity, and executive discontent, and could be expensive, in time and money expended dealing with government investigators, shareholder constituency groups and the IRS." (LAW JOURNAL NEWSLETTERS - CORPORATE COUNSELOR via Dechert LLP)
Hewitt Federal Legislation Quick Guide Updated as of March 29, 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)
Newly Posted Events
Employee Benefits in Mergers and Acquisitions: Key to a Successful Corporate Transaction
Nationwide on April 28, 2005
presented by Thompson Interactive, A Division of Thompson Publishing Group
Financial Illiteracy in the Workplace: The Risks, Resolution, and Rewards
Nationwide on April 13, 2005
presented by The EDSA Group, Inc.
Newly Posted Press Releases
Employee Education and Intranets Play Central Role in Shift to Consumer-Directed Health Care
(Watson Wyatt)
Still River Releases New Retirement Income Planning Software
(Still River Retirement Planning Software, Inc.)
Public-Sector Workers Have Longer Median Job Tenure
(Employee Benefit Research Institute (EBRI))
National Poll Shows Public Opinion Sharply Divided on Regulating Appearance - From Weight to Tattoos - In the Workplace
(Employment Law Alliance)
Instant HR Answers-TM- Debuts - BLR's New Human Resource Answer Site Uses 'Revolutionary' Search Technology
(Business and Legal Reports, Inc.)
District Court Ruling Will Accelerate Employer Retreat From Retiree Health Plans
(ERIC (ERISA Industry Committee))
Council supports EEOC’s appeal of court order on retiree health benefits rule
(American Benefits Council)
METRICS PARTNERS ANNOUNCES RETIREMENT PROFESSIONALS BUYERS GUIDE
(Metrics Partners)
New report assesses how employers use the Internet to raise employee Health I-CUE™
(Health2 Resources)
Newly Posted or Renewed Job Openings
Computer Operations Analyst
for Wells Fargo
in MN
ERISA Pension Attorney
for The Waage Law Firm
in CA
Administrative Assistant
for The Waage Law Firm
in CA
Flex/Cafeteria Plan Benefit Administration
for Rapidly Growing TPA
in CA
Sr. Trust Accountant
for Sempra Energy
in CA
Health & Welfare Specialist
for Long Island Employee Benefits Group Ltd.
in NY
Compliance Officer
for PennRock Financial Advisors, N.A.
in PA
Account Executive
for Transamerica
in IL, MA
Account Manager, Retirement Plans
for Charles W. Cammack, Associates, Inc.
in NJ, NY
Account Manager, Health & Welfare
for Charles W. Cammack Associates, Inc.
in NJ, NY
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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.
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