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June 10, 2005
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HIPAA Security Standards: #4 Technical Safeguards (PDF)
17 pages. Excerpt: "The security series of papers will provide guidance from the Centers for Medicare & Medicaid Services (CMS) on the rule titled “Security Standards for the Protection of Electronic Protected Health Information, found at 45 CFR Part 160 and Part 164, Subparts A and C, commonly known as the Security Rule." (Centers for Medicare & Medicaid Services via HIPAAvisory.com)

HIPAA Security Standards: #5 Organizational, Policies and Procedures and Documentation Requirements (PDF)
12 pages. Excerpt: "The security series of papers provides guidance from CMS on the HIPAA Security Rule. The series will contain seven papers, each focused on a specific topic related to the Security Rule. The papers are designed to give HIPAA covered entities insight into the Security Rule, and assistance with implementation of the security standards. This series explains specific requirements, the thought process behind those requirements, and possible ways to address the provisions." (Centers for Medicare & Medicaid Services via HIPAAvisory.com)

AMA Might Push for Legislation that Would Restrict Where Doctors Can Work
Excerpt: "The American Medical Association's Board of Trustees will recommend to the group's House of Delegates that it consider pushing for state or federal legislation to forbid corporations and hospitals from directly employing physicians, the Miami Herald reports. In a formal report, the AMA trustees noted that the group has a long-standing belief that it is unprofessional for doctors to work for organizations in which they could gain from profits." (Kaiser Family Foundation)

Opinion: Cooking the Books? The Difference between the Reserve Column and the Profit Column
Excerpt: "[I]f an insurance company wants to jack up premiums, or pay less taxes, it shifts money from the profit column over to reserves. That's called over-reserving. Take California. Recently, state regulators found HMOs and insurers holding as much as 13 times more in reserve than the state required. No wonder Californians have skyrocketing premiums. Americans need to wake up to the fact that insurer's pricing is driven by their investment opportunities. It's called the insurance cycle." (The Foundation for Taxpayer & Consumer Rights)

HMOs Ask for 2006 Rate Hikes Averaging 12.4%
Excerpt: "Health maintenance organizations are seeking 2006 rate increases averaging 12.4%, the lowest increase in more than five years, according to a new analysis. That 12.4% rate hike compares with rate hikes averaging 13.7% that HMOs initially sought at the same time last year for 2005, according to data collected by Hewitt Health Resource, an Internet-based health plan management unit of Lincolnshire, Ill.-based Hewitt Associates Inc." (Business Insurance)

Rising Pres.cription Drug Costs Slowed in 2004, According to Trend Report
Excerpt: "Pres.cription drug costs rose 10 percent last year, a smaller increase than expected, according to a study of patients who are covered by Express Scripts. The pharmacy benefit manager said its clients spent about $707 per person last year for medications without any cost controls in place. That's up from about $640 in 2003, excluding high-cost injectable drugs, the company said in its 2004 Drug Trend report." (KRT NEWS SERVICE via The Star-Ledger)

ERIC & Deloitte Online Wellness Program Survey -- Close Date: Thursday, July 16, 2005
Excerpt: "The ERIC Health Policy Committee and Deloitte have launched a Wellness Program Survey. This short survey has only 17 questions (15 are yes/no or multiple choice questions). The results of the survey will be discussed by the Honorable Tommy Thompson during his keynote address at the ERIC Major Employers' Forum on Controlling Your Healthcare Budget on June 22, 2005 in Washington, DC. [To complete the survey go to https://ias.deloitte.co.uk/SURVEYS/ERISA.NSF.]" (The ERISA Industry Committee)

In Blow to Can.ada's Health System, Quebec Law Banning Private Medical Insurance Is Voided
Excerpt: "The Supreme Court on Thursday struck down a Quebec law banning private medical insurance in a decision that represents an acute blow to the publicly financed national health care system. The high court stopped short of striking down the constitutionality of the country's vaunted health care system nationwide, but specia.lists across the legal spectrum said they expected the decision to lead to sweeping changes in the Canadian health care system." (The New York Times; one-time registration required)

Links to Items on Executive Comp, Benefits in General

GM Has Announced 25,000 Layoffs and Other Industries Face Similar Benefits' Cost Burdens
Excerpt: "An increasing part of production costs in America comes from the price of promises. There are corporate commitments to provide a pension - some 44 million Americans get a monthly check - that add up to as much as $124 billion a year. There are also healthcare benefits that many companies have agreed to provide, either voluntarily or by union contract, at a cost of billions more each year." (The Christian Science Monitor)

Senate Testimony: John Endicott's Statement on the Collapse of Capital Consultants and Its Effects
Excerpt: "I want to tell you about the serious impact that the collapse of Capital Consultants had on me and on my fellow union members and the debacle that we all faced when we first heard that much of our hard-earned pension, health and other benefits had been stolen, misappropriated or lost through reckless and fraudulent schemes concocted by corrupt money managers who we had entrusted to handle our funds." (The Oregonian)

Milliman's Monthly Benefit News and Developments, June 2005 Edition (PDF)
2 pages. Includes Legislative Activity on the Benefits Front; 2005 Health Care Costs; Upcoming Key Dates for Benefit Plans; and a Regulatory Roundup. (Milliman)

Newly Posted Events

Understanding Current Pension and Employee Benefits Law and Practice
in Massachusetts on August 15, 2005
presented by ALI-ABA (American Law Institute-American Bar Association)

Newly Posted Press Releases

HMOs Propose Lowest Rate Increases in Five Years; Hewitt Associates Data Shows Aggressive Cost Management Strategies Paying Off
(Hewitt Associates LLC)

The Pension Benefit Guaranty Corporation (PBGC) has issued Disaster Relief Announcements
(Pension Benefit Guaranty Corporation (PBGC))

Smith, Conrad Bill Addresses Nation's Retirement Security Crisis
(American Council of Life Insurers)

U.S. Labor Secretary Elaine L. Chao Applauds Chairman Boehner for Introducing Pension Reform Legislation
(U.S. Department of Labor, Office of Public Affairs, Washington, D.C.)

Labor Department Testifies on Enforcement of Employee Benefits Law
(U.S. Department of Labor, Office of Public Affairs, Washington, D.C.)

Statement of Treasury Secretary John W. Snow Regarding Introduction of Pension Reform Legislation
(U.S. Department of Treasury)

Newly Posted or Renewed Job Openings
Post a Help Wanted Ad

Pension Administrator
for Benefits Consulting Group
in MA

Employee Benefits Consultant
for CUNA Mutual Group
in IA, KS, MN, MO

Market Research Analyst
for BISYS Retirement Services
in PA

Benefits Analyst
for MTA, New York City Transit
in NY

Account Executive - Client Services
for Diversified Investment Advisors
in CA



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