October 3, 2006 Today's sponsor: Employee Benefits Institute of America Inc. (EBIA) (Click on company name or banner to learn more.)
Committee on Ways and Means Report on the Health Opportunity Patient Empowerment Act of 2006 Excerpt: "'Committee on Ways and Means filed the report, H. Rept. 109-704, to accompany H.R. 6134, the 'Health Opportunity Patient Empowerment Act of 2006." (U.S. House Committee on Ways and Means) House Ways and Means Committee Approves Bill to Make HSAs More User-Friendly Excerpt: "A key provision of the bill would allow HDHP enrollees a one-time transfer of funds from a flexible spending account or a health reimbursement arrangement into an HSA. Another provision of the bill would allow a similar one-time transfer of funds from an Individual Retirement Account." (INSIDE CONSUMER-DIRECTED CARE via AISHealth.com) Medical Privacy Case Rejected by the U.S. Supreme Court Excerpt: "The final rule put in place in 2003 leaves it up to health-care providers whether to seek patients' consent to use or disclose information for routine uses. The rule requires that disclosure must be limited to the 'minimum necessary' information to accomplish the intended purpose." (AP via The New York Times; one-time registration required) Tracking Health Care Costs: Spending Growth Remains Stable at High Rate in 2005 Excerpt: "Two factors stand out as having potential to lower spending trends. First, in the pharma.ceutical sector, a number of important blockbuster drugs have either recently lost patent protection (Zocor) or are scheduled to lose patent protection in the near future (Zoloft). Second, the trend toward increased patient cost sharing has accelerated." (Center for Studying Health System Change) Employers Help Working Parents Find Babysitters Excerpt: "Recognizing the need for reliable child care, at least six employers have agreed to provide discounted or fully subsidized memberships to SitterCity as an employee benefit. The idea is to improve work-life balance by easing the stress of finding an occasional babysitter, a full-time nanny, back-up child care in an emergency, or a pet sitter for an upcoming vacation." (Employee Benefit News) Work-Life Concerns Impede Senior Executive Promotions Excerpt: "A recent survey by the Association of Executive Search Consultants shows that a growing number of senior executives would turn down a promotion if they thought it would tip their work-life balance." (Employee Benefit News) Hearing Benefits Could Be Music to Employee Ears Excerpt: "[W]hy are hearing plans such a forgotten benefit while dental and vision coverage is considered standard? It could be because employees are reluctant to recognize their diminished hearing or are too sheepish to ask about a benefit. Employers who raise awareness of hearing problems and implement a hearing benefit could see a major return on investment." (Employee Benefit News) Unions Key on Health Benefit for Public Employee Retirees in New Jersey Counties Excerpt: "In all but one of the state's 57 other counties, county-government retirees have all or part of their health insurance paid by the county's retirement system. San Joaquin County's lack of a retiree health benefit has come under fire from union officials, who say it should be available." (www.recordnet.com) Working Paper: Health Insurance Patterns Nearing Retirement Excerpt: "This chapter asks how well Baby Boomers are protected against . . . later-life health shocks. Our main finding is, that while exposure to risk is relatively high, the realization of risk is unlikely and relatively little wealth is at stake." (Pension Research Council; registration required to download full-text of paper) EBRI Issue Brief: Sources of Health Insurance and Characteristics of the Uninsured (PDF) 32 pages. Excerpt: "This Issue Brief provides historic data through 2005 on the number and percentage of nonelderly individuals with and without health insurance. Based on EBRI estimates from the U.S. Census Bureau's March 2006 Current Population Survey (CPS), it reflects 2005 data. It also discusses trends in coverage for the 1994–2005 period and highlights characteristics that typically indicate whether an individual is insured." (Employee Benefit Research Institute) Hewitt Federal Legislation Quick Guide Updated September 26, 2006, for Health and Welfare Plans (PDF) 10 pages. This 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. (Hewitt Associates) Links to Items on Executive Comp, Benefits in General Overview: SEC's New Executive Comp Disclosure Requirements and Companies with Retirement Plans Excerpt: "The changes to the rules for disclosure of executive and director compensation that the Securities and Exchange Commission (SEC) adopted this summer1 include requirements for additional reporting for companies with retirement plans. These new requirements have not yet received much media attention. This Compliance Alert focuses on the additional requirements and their implications." (The Segal Company) Hewitt Federal Legislation Quick Guide for September 19, 2006, on Human Resources and Employment Law (PDF) 9 pages. This 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 human resources and employment law. (Hewitt Associates) Newly Posted Events Journey deep into the world of IRAs in Montana on November 7, 2006 presented by Wolters Kluwer Financial Services Journey deep into the world of IRAs in Florida on November 7, 2006 presented by Wolters Kluwer Financial Services Journey deep into the world of IRAs in Texas on November 7, 2006 presented by Wolters Kluwer Financial Services Journey deep into the world of IRAs in Texas on November 8, 2006 presented by Wolters Kluwer Financial Services Journey deep into the world of IRAs in Florida on November 8, 2006 presented by Wolters Kluwer Financial Services Pension Protection Act Series - Multiemployer Plans Nationwide on October 11, 2006 presented by Morgan Lewis & Bockius LLP Pension Protection Act Series - Multiemployer Plans Nationwide on October 12, 2006 presented by Morgan Lewis & Bockius LLP The Pension Protection Act 2006-Dallas in Texas on October 6, 2006 presented by Executive Benefits Design Group Vesting - Basics and Beyond Web Seminar Nationwide on October 17, 2006 presented by SunGard Corbel Newly Posted Press Releases Employers Saved More than $4 Million Last Year through Midwest Business Group on Health’s HMO Buyers Group (Midwest Business Group on Health) Heat is on for Seniors Thanks to Information from the National Council on Aging’s BenefitsCheckUp (National Council on Aging (NCOA)) Newly Posted or Renewed Job Openings Trust Administrator - Employee Benefits for Old Point Trust & Financial Services, N.A. in VA Health and Welfare Project/Client Manager for TRI-AD in CA Regional Operations Manager for Invesmart, Inc. in WA Relius Administration Pension Analyst for SunGard in FL Compliance Testing Consultant for Diversified Investment Advisors in NY 401(k) Administrator for ABA, Inc. - Accrued Benefit Administrators, Inc. in CA Pension Consultant for Mercer Advisors in CA Benefits Specialist/Administrator for Benefits Group WorldWide, Inc. in CA Marketing Communications Specialist for BISYS Retirement Services in PA Handy Links:
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