| BenefitsLink Welfare Plans Newsletter |   |
April 19, 2005
Today's sponsor: International Quality & Productivity Center (IQPC)
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HHS Publishes Draft HIPAA Enforcement Rule in Federal Register, April 18, 2005 (PDF)
36 pages. Excerpt: "The Department of Health and Human Services ... published in the Federal Register a Notice of Proposed Rulemaking (NPRM) of the HIPAA Enforcement Rule. Comments from the public are requested, and are due by June 17. The proposed rule, entitled, 'Civil Money Penalties: Policies and Procedures for Investigations, Imposition of Penalties, and Hearings,' would amend the existing rules relating to the investigation of noncompliance to make them apply to all of the HIPAA ...." (Federal Register via HIPAAdvisory.com)
HHS's Office for Civil Rights Issues Nine New FAQs on PHI Used in Legal Proceedings
Excerpt: "On Jan. 14, HHS's Office for Civil Rights (OCR) posted on its Web site answers to nine new 'frequently asked questions' (FAQs), all of which relate to the use and disclosure of protected health information (PHI) in formal legal proceedings." (REPORT ON PATIENT PRIVACY via AISHealth.com)
High-Cost Stents Yield Long-Term Savings for Health Insurers, but Not for 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)
Experts Stress Data Mining as Key Specialty Pharmacy Tool
Excerpt: "MCOs developing a specialty pharmacy strategy should collect data from every available source, advises consultant Debbie Stern, of Rxperts in Irvine, CA. 'Collect everything you have' from both pharmacy and medical benefit claims data. 'You want to look at two-to-three years of data. You want to try to capture trend." (DRUG BENEFIT NEWS via AISHealth.com)
Links to Items on Executive Comp, Benefits in General
Overview: SEC Postpones Stock Option Expensing Standard (PDF)
1 page. Excerpt: "The Securities and Exchange Commission released a new rule yesterday that amends the compliance date for FASB Statement No. 123R, Accounting for Share-Based Payments. FAS 123R, among other things, requires companies to expense for stock options. The new SEC rule permits companies to implement FAS 123R at the beginning of their next fiscal year, instead of the next reporting period that begins after June 15, 2005 (or December 15, 2005 for small businesses)." (Mellon Financial Corporation)
Mellon's HR&IS Issues Survey of Year-End 2004 Global U.S. GAAP Assumptions (PDF)
2 pages. Excerpt: "Mellon's Human Resources & Investor Solutions has released a survey of the year-end 2004 accounting assumptions for benefit plans that were used for U.S. GAAP disclosures by their clients. This For Your Information highlights the results of this survey." (Mellon Financial Corporation)
SEC Defers Mandatory Option Expensing for Many Companies: Effective Date Revised for FAS 123(R) (PDF)
2 pages. Excerpt: "On April 14, the SEC delayed the date by which many companies must implement FAS 123(R), which requires the expensing of employee stock options. The SEC's new rule allows public companies to implement FAS 123(R) at the beginning of their next fiscal year, rather than the next reporting period, that begins after June 15, 2005." (Powell Goldstein LLP)
News Scan Summarizes News in the Benefits Industry -- April 18, 2005 Edition (PDF)
6 pages. This edition includes articles titled: DOL Issues Required Notice of Rights and Duties Under USERRA; IRS Proposes Rule to Exclude Certain Disability Payments from FICA Taxes; Michigan House Approves Bill to Eliminate Tax on Health Care Benefits; and, AICPA Reports on Social Security Reform Alternatives. (Gabriel, Roeder, Smith & Company)
Overview: DOL Revises Voluntary Fiduciary Correction Program (PDF)
4 pages. Excerpt: "The revisions, which are intended to make it easier for plan sponsors and other plan officials to correct certain ERISA violations, include new transactions that can result in violations and simplified methods for correcting them. In addition to the revisions to the VFCP, the DOL has proposed amendments to the prohibited transaction exemption applicable to certain transactions under the VFCP." (Mellon Financial Corporation)
Newly Posted Events
HIPAA and Other Health Laws: Virginia Compliance Assistance Seminar
in Virginia on May 18, 2005
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
Newly Posted Press Releases
401(K) Assets Hit Record Level, Nearing $2 Trillion Says New Spark Report
(Society of Professional Administrators and Recordkeepers (SPARK))
Eisner Retirement Solutions LLC To Provide Mandatory IRA Rollover Solution
(Eisner Retirement Solutions LLC)
Meet the COBRApoint Team at the HRMStrategies
(COBRApoint)
Free Monthly COBRA Information Through Email Newsletter
(COBRApoint)
Free Daily COBRA Point delivered by email
(COBRApoint)
COBRApoint Sponsored NAPBA Legislative Spring Conference
(COBRApoint)
Newly Posted or Renewed Job Openings
AVP, Health & Welfare Consultant
for Aon Corporation
in MI, MN
Defined Benefits Manager
for Great-West Financial Services
in WI
Senior Health & Welfare Pharmacy Consultant
for Mellon
in GA
Benefit Administrator
for Mellon
in GA
Reconciliation Supervisor - PA
for Vanguard
in PA
Daily Transaction Administrator
for IPA Northeast, LLC
in NJ
Tax Manager - PA
for Vanguard
in PA
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- Using the Web for Employee Benefits Research (hypertext article)
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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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