| BenefitsLink Welfare Plans Newsletter |   |
May 13, 2005
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Patients' Rights Legislation Re-Emerges in Congress
Excerpt: "House Democrats, led by Rep. John Dingell (D-Mich.), introduced a patients' bill of rights, based on legislation that passed the Senate in 2001, that would establish federal protection for enrollees harmed by their health plans, including a right to sue." (modernhealthcare.com)
Hillary Clinton and Newt Gingrich Agree on Health System Information Technology Reform
Excerpt: "US Senator Hillary Rodham Clinton (D-New York) showed off an odd political alliance Wednesday as she unveiled a new measure to reform the nation's health care system. The bill, The 21st Century Health Information Act, would replace paperwork with confidential, electronic health information networks designed to save lives and money by eliminating medical errors, according to a USA Today report." (PLANSPONSOR.com; one-time registration required)
Leavitt Report Urges Investment to Speed Health IT Adoption
Excerpt: "HHS Secretary Mike Leavitt ... released a report calling for increased funding to spur health care IT adoption, .... Leavitt released the report at the Business Roundtable's CEO Health Care Summit, according to an HHS release .... The report by the Health Information Technology Leadership Panel identifies three crucial factors for health IT: an interoperable universal network, government leadership in driving adoption and a public-private collaboration to establish standards ...." (California HealthCare Foundation)
The Commonwealth Fund Health Care Opinion Leaders Survey, Part III
Excerpt: "The Commonwealth Fund Health Care Opinion Leaders Survey was conducted by Harris Interactive on behalf of The Commonwealth Fund, with a broad group of 289 opinion leaders in health policy and innovators in health care delivery and finance. It was the third in a series of six bimonthly surveys designed to highlight leaders' perspectives on the most important and timely health policy issues facing the nation." (The Commonwealth Fund)
Opinion: None of Us Can Afford Our Health Care System
Excerpt: "No matter whether it is employers, employees, retirees, government, taxpayers, or patients, no one can afford the high costs of care. We are seriously harming our nation's future by failing to control costs and get real value for our investments. Paying too much for care damages our ability to compete on the world market: our costs are 74% higher than in Germany and far higher than such countries as China, Korea, Japan, and India." (The Commonwealth Fund)
Opinion: Costs of Health Care -- New Solutions for an Old Problem
Excerpt: "Among the three challenges of health care -- providing access, ensuring quality, and controlling costs -- the latter seems the most daunting. Perhaps this is because efforts to reign in costs date back at least 70 years. In the 1920s, concerns about the cost and distribution of medical care resulted in the formation of the Committee on the Costs of Medical Care." (The Commonwealth Fund)
2005 Pres.cription Drug State Legislation Charts by Topic and by State
Excerpt: "In 2005, state legislatures continue to have a strong health policy focus on pres.cription drugs. As of early May, more than 500 separate bills and resolutions in all 50 states proposed to address a wide array of policies, affecting access, affordability, payment and other regulation of pres.cription drugs." (National Conference of State Legislatures)
Overview: New Laws Change Health Plan Continuation of Coverage Requirements for Veterans (PDF)
2 pages. This Bulletin discusses the following two new federal laws: the Veterans Benefits Improvement Act and the National Defense Authorization Act for Fiscal Year 2004. The first of these laws changes the obligations of all group health plan sponsors. The second law gives reservists increased options to continue coverage under TRICARE, the military health program, through a new program: TRICARE Reserve Select. (The Segal Company)
Rep. Shadegg Introduces Bill to Allow Consumers to Purchase Health Insurance in Any State
Excerpt: "Rep. John Shadegg (R-Ariz.) on Thursday introduced a bill (HR 2355) that would allow people to purchase health insurance from any state, regardless of their place of residence, CQ HealthBeat reports. Shadegg and supporters said the bill would help uninsured U.S. residents find affordable coverage by allowing them to consider lower-cost options from other states." (Kaiser Family Foundation)
Bill Introduced to Help Small Business Provide Health Insurance Coverage
Excerpt: "A lot of people who work for small businesses don't have health insurance. Now there's a plan to help them out. Legislation has been introduced to offset the health care expenses of small businesses. Sen. Jim DeMint, R-S.C. is backing the bill that would give such businesses a tax break if they offer health savings accounts (HSAs) to their employees." (Family News in Focus)
Health Savings Account Deposits Top $460 Million; 50,000+ Accounts Are Opened Each Month (PDF)
Pages 1, 5-8 of 9 pages. Excerpt: "Health savings account administrators say they have opened more than 425,000 accounts since Jan. 1, 2004, and are adding at least 50,000 new ones each month, according to interviews conducted by ICDC with 21 HSA administrators (see table, p. 6). Collectively, these firms have amassed about $460 million in HSA deposits and are bracing for what they expect will be an explosive 2006." (Inside Consumer-Directed Care)
Opinion: General Motors Workers Get Paid When Plants Close
Excerpt: "In contrast to the typical plight of unemployed workers, GM's displaced workers in Lansing didn't have to scrimp when their jobs ended. Under terms of GM's labor agreement with the United Auto Workers union, those who had been building Grand Ams will be taking temporary jobs in hospitals, schools and community service agencies in the Lansing area, drawing an amount from GM that's very close to their regular salary." (Bloomberg News)
Links to Items on Executive Comp, Benefits in General
Overview: Demystifying Volatility -- FAS 123R and Assumptions in Stock Option Valuation
Excerpt: "FAS 123R brought the valuation of share-based compensation from the opaque depths of financial statements footnotes to the forefront. It has created an immediate need for companies to understand the valuation models, key assumptions, and the financial implications. Setting assumptions is as important as selecting the valuation model." (Chicago Consulting Actuaries, LLC.)
Bill to Limit COLI Policies Introduced in House
Excerpt: "Bipartisan legislation introduced in the House on Wednesday would limit newly issued corporate-owned life insurance policies to top executives and highly compensated employees. Under the measure, H.R. 2251, coverage under COLI policies would be limited to corporate directors and highly compensated employees-those earning at least $90,000 a year or who are in the top 35% by compensation." (Business Insurance)
Hewitt Federal Legislation Quick Guide Updated as of May 10, 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)
Overview: Employee Stock-Based Compensation Awards with Non-Substantive Vesting Conditions (PDF)
3 pages. Excerpt: "This DataLine provides important guidance on how to address non-substantive vesting conditions, such as retirement eligibility provisions, of employee stock-based compensation awards under Financial Accounting Standards Board Statement No. 123, Accounting for StocBased Compensation (FAS 123), and Accounting Principles Board Opinion No. 25, Accounting for Stock Issued to Employees (APB 25)." (PricewaterhouseCoopers via)
Cisco Systems Proposes New Employee Stock Options Instrument
Excerpt: "Prominent technology company Cisco Systems has thrown a new wrinkle into the ongoing controversy over stock option expensing with a proposal to publicly sell a new options-related security. Cisco has proposed to regulators the creation of employee stock option reference securities (ESORS), which it would sell to institutional investors when it issued options to its employees, according to a New York Times report." (PLANSPONSOR.com; one-time registration required)
Newly Posted Events
Using Care Management Strategies to Reduce Benefit Costs and Improve Employee Health
in California on June 16, 2005
presented by Precept Human Capital Management
Newly Posted or Renewed Job Openings
Associate Relationship Manager
for Great-West Corporate
in KS
Group Product Design & Marketing Specialist
for Sentry Insurance
in WI
Administrative Assistant
for Growing Major Midtown Union Health Plan
in NY
Account Executive - Client Services
for Diversified Investment Advisors
in CA
Global Supply Chain - Corporate Benefits and Facilities
for Apple Computer Inc.
in CA
Handy Links:
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- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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