July 11, 2006 Today's sponsor: ASPPA • Working for America's Retirement™ (Click on company name or banner to learn more.)
Text: EBSA Information Letter Regarding the Definition of 'Multiple Employer Welfare Arrangement' Excerpt: "[The DOL was asked w]hether an arrangement providing benefits to employees of the clients of a professional employer organization is a multiple employer welfare arrangement under ERISA section 3(40)." (U.S. Department of Labor, Employee Benefits Security Administration) The Best Medical Care in the U.S. Is at VA Facilities Excerpt: "[I]f you want to be sure of top-notch care, join the military. The 154 hospitals and 875 clinics run by the Veterans Affairs Dept. have been ranked best-in-class by a number of independent groups on a broad range of measures, from chronic care to heart disease treatment to percentage of members who receive flu shots. It offers all the same services, and sometimes more, than private sector providers." (Newsweek via Physicians for a National Health Program) Depression in the Workplace Costs Employers Billions Each Year (PDF) Excerpt: "[T]his publication [is divided] into three parts: The first part outlines and quantifies the effects of workers' untreated depression; the second describes the current state of therapy; and the third covers many of the techniques and resources that employers may use to help their employees overcome their depression." (Managed Care Magazine) Opinion: A New Dimension for Care Management--Including Prevention and Wellness Excerpt: "There are significant challenges in improving performance in the areas of cost, quality and service. Many challenges, especially in the care management area, the core of the healthcare delivery model, lie ahead. Most payors have not obtained satisfactory results with traditional techniques." (HealthLeaders News) How Much More Cost-Sharing Will Health Savings Accounts Bring? Excerpt: "Proponents of health savings accounts (HSAs) believe they can reduce medical spending by making consumers more sensitive to the costs of care. [HSAs] together with high-deductible health plans should encourage consumers to make prudent treatment decisions because they are spending their own money. However, a new Commonwealth Fund-supported study finds that because of the tax subsidies accountholders receive, HSAs may actually lower effective out-of-pocket costs for some enrollees." (Health Affairs via The Commonwealth Fund) Patients and Insurance Companies Concerned As Prices Soar for Cancer Drugs Excerpt: "The cost of a cancer drug pres.cription rose nearly 16% last year, compared with 3% for other pres.criptions, says a June report by Express Scripts, a pharmacy benefit manager. The average cost of a 30-day pres.cription for cancer drugs is now nearly $1,600." (USA TODAY) Michigan Firms Get Health Coverage Cost Break for Worker Lifestyle Changes Excerpt: "Michigan employers who reward employees for living healthier lifestyles can save an average of 10% on their health care bill under a new Blue Care Network of Michigan program. A news release said that the Healthy Blue Living program kicks off October 1 and rewards those employees being healthier in their lifestyle with lower co-payments and deductibles." (PLANSPONSOR.com; one-time registration required) Towers Perrin U.S. Legislative Tracking Chart: Health and Welfare (July 7, 2006) (PDF) Excerpt: "Summary: 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) Letter to House Urges Consideration of the Health Care Choice Act (PDF) 3 pages. Excerpt: "[On July 10, 2006] 51 organizations signed a letter and sent it to the House leadership debunking misleading information and urging the leadership to consider H.R. 2355, the 'Health Care Choice Act,' sponsored by Representative John Shadegg (R-AZ)." (Council for Affordable Health Insurance) DOL Web Site Asks, Can the Retiree Health Benefits Provided by Your Employer Be Cut? Excerpt: " Some employees are fortunate: they belong to employer-provided health care plans that carry over to retirement. However, an important question arises for employees and retirees: How secure are my health care benefits after retirement? Under what circumstances can the company reduce or terminate my health benefits?" (U.S. Department of Labor, Employee Benefits Security Administration) North Carolina Health Care Plan for Retired State Workers Suffers Growing Pains Excerpt: "Starting in December, new accounting standards will go into effect that require state and local governments to disclose their projected medical coverage costs for current and future state government retirees. North Carolina's figure right now is estimated as high as $13.5 billion...." (AP via StarNewsOnline.com) Links to Items on Executive Comp, Benefits in General Towers Perrin U.S. Legislative Tracking Chart: Human Resources (July 7, 2006) (PDF) 10 pages. Excerpt: "Summary: These charts summarize selected federal legislation that would affect employer 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) Opinion: Molly Ivins Speaks on 'The Politics of Greed' Excerpt: "[F]or those who have been following the collapse of the pension system, please note a series in The Wall Street Journal by Ellen Schultz taking a hard look at executive pension obligations: ..." (Truthdig) Newly Posted Events 2007 Employee Ownership Conference in California on March 21, 2007 presented by National Center for Employee Ownership (NCEO) and the Beyster Institute Consumer-Driven Health: Latest Trends and Case Study Nationwide on July 20, 2006 presented by International Foundation of Employee Benefit Plans Get the Most out of your ESOP in Washington on October 16, 2006 presented by National Center for Employee Ownership NCCMP Annual Conference 2006 in Florida on November 11, 2006 presented by National Coordinating Committee for Multiemployer Plans Pay for Performance: Love It or Hate It, Know How to Deal With It Nationwide on September 13, 2006 presented by Deloitte Pension Funding and Accounting Reform: Which Way Will the Wind Blow? Nationwide on September 6, 2006 presented by Deloitte The Retirement Plan Marketplace: Key Trends That You Can Leverage Nationwide on July 20, 2006 presented by Deloitte Newly Posted Press Releases Letter Urges Consideration of the Health Care Choice Act (Council for Affordable Health Insurance) About a Third of Those Married/Living with a Partner Say They Agree on What They Should Save for Retirement (Wall Street Journal) Business Roundtable Releases New Research That Sets the Record Straight on Executive Compensation (Business Roundtable) Perspective Partners Introduces TANDM-401(k) (Metrics Partners) Fiserv ISS and Presidium Retirement Advisers Inc. Launch New Collective Investment Funds (Target Marketing Solutions, Inc.) Newly Posted or Renewed Job Openings 401(k) Plan Administrator for Pollard & Associates, Inc. in MD Assistant Pension Administrator for Pollard & Associates, Inc. in MD Actuarial Analyst for RSM McGladrey Retirement Resources in IL Senior Actuarial Analyst for RSM McGladrey Retirement Resources in IL Consulting Associate for RSM McGladrey Retirement Resources in MN Employee Benefits Attorney for Frost Brown Todd LLC in OH Senior Communications Consultant for New York Life Investment Management LLC in NJ Regional Vice President - Third Party Administrator for Zenith Administrators in WA Regional Vice President - Third Party Administrator (CA) for Zenith Administrators in CA Major Account Sales Representative for Ceridian in ANY STATE Marketing & Communications Specialist for BWD Group LLC in NY Account Executive for The Principal Financial Group in MI Client Services Director for The Principal Financial Group in TN Pension Administrator for Hinsdale, Illinois Pension Consultant in IL HR Technology Administrator for Vanguard in PA Manager, Employee Benefits for MTA- New York City Transit in NY Manager, Cost Management and Analysis for MTA- New York City Transit in NY Handy Links:
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