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| April 26, 2007 |
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Texas Two-Steps Around Retiree Benefits, Accountants Say
Excerpt: "First came the revolt by Texas, in the form of a March 1 letter sent by comptroller Susan Combs to state treasurers everywhere, calling upon them to fight the imposition of GASB rule 45. The new rule requires states and localities to report how much they owe retirees in terms of so-called other post-employment benefits, such as health care. Texas lawmakers drafted legislation making the new rule inoperative in the state." (Bloomberg News)
More Employers Should Provide Day Care for Their Workers' Children. Pro or Con?
Excerpt: "In a report by the National Conference of State Legislatures, employers cite child-care issues as causing more problems than any other family-related issue in the workplace, with increases in absenteeism and tardiness reported in nine out of 10 companies. And 80% of the companies surveyed said that work days were cut short because of child-care problems." (BusinessWeek)
Chart: Access to Sick Days Vastly Unequal Among Workers
Excerpt: "On average, 57% of private-industry workers in the United States have access to paid sick leave. That means that 43% of all private-industry workers have no paid sick days." (Economic Policy Institute)
Indiana State Employees with 10+ Years of Service Get Change in Health Coverage
Excerpt: "Indiana Governor Mitch Daniels signed a bill Tuesday that would create new health care benefits in which the state would make contributions for health care coverage for state employees or elected officials serving more than 10 years, the Associated Press reported." (PLANSPONSOR.com; free registration required)
Wal-Mart To Expand Retail Health Clinics to 400 Stores in Three Years
Excerpt: "Wal-Mart Stores will open health clinics at as many as 400 of its U.S. stores in the next three years, and as many as 2,000 in the next five to seven years, the company announced . . . ." (Kaiser Family Foundation)
Electronic Health Record Systems-A Main Pillar in European e-Health Developments
Excerpt: "Although many different technology systems for health care, commonly referred to as e-Health systems, contribute to better delivery of care, the electronic health record (EHR) system is important to ensure continuity of care as it is intended to follow the patient over time." (AARP)
Controversial Michael Moore Flick 'Sicko' Will Compare U.S. Health Care with Cuba's
Excerpt: "Sicko, which will be premiering at the Cannes Film Festival in May, is a comic broadside against the state of American health care, including the mental health system. The film targets drug companies and the HMOS in the richest country in the world -- where the most money is spent on health care, but where the U.S. ranks 21st in life expectancy among the 30 most developed nations . . . ." (AlterNet via Physicians for a National Health Program)
Health Insurers Tackle Texas Uninsured Market
Excerpt: "While Texas legislators wrestle with the issue of covering the uninsured, insurers are trying to fill the gap, a research firm notes. Humana's 'No Worry' product is the most recent submission to the market, becoming available in January in Dallas-Fort Worth and Houston for businesses with 51 to 99 employees . . . ." (The National Underwriter Company; free registration or paid subscription required)
Opinion: What's Behind All the Bad Press for Health Insurers?
Excerpt: "The timing for all this attention is not coincidental. As California moves slowly toward overhauling its health care system, the spotlight moves inexorably toward the industry at the heart of the health care status quo." (California Healthline via The Foundation for Taxpayer & Consumer Rights)
Opinion: We Don't Need Government-Mandated Health Insurance, Just More Affordability
Excerpt: "Since the states now trying to introduce universal health care never got rid of the old mandates, the cost of insurance is as high as ever. State legislatures are apparently planning to solve that problem by forcing citizens to buy the policies, just as drivers are required to buy car insurance." (The Orange County Register)
Posing As Pals, Drug Reps Sway Doctors' Choices
Excerpt: "As much as doctors would like to deny it, subtle attention from friendly drug sales representatives can have a big impact on what drugs they prescribe, according to two U.S. studies published on Monday." (Reuters)
The Effect of Prescription Drug Insurance on Utilization and Health
Excerpt: "In summary, the authors find only a modest effect of prescription drug coverage on drug utilization and no evidence of a beneficial effect of coverage on hospital admissions and health outcomes. The authors suggest several possible reasons for the lack of an effect on health." (National Bureau of Economic Research)
More Health Insurers Team Up With Vision Firms to Offer Popular Benefits
Excerpt: "'More plans have reached out to vision companies because there is demand for wellness programs that are noninvasive ways to detect disease,' . . . ." (MANAGED CARE WEEK via AISHealth.com)
Seven Steps to Improve Health Benefit Design
Excerpt: "Most HR/benefits executives realize that to reduce their health care spending they must have a meticulous understanding of their employee health data. But achieving that goal can sometimes be a challenge. As a result, executives at Pitney Bowes Inc. released a playbook to help small and large employers get their heads around health benefit design and employee health data." (BenefitNews Connect)
Testimony: Living without Health Insurance: Why Every American Needs Coverage
Testimony before the House Committee on Energy and Commerce Subcommittee on Health by Grace-Marie Turner (Galen Institute)
New Web Site: CalHealthReform.org
Excerpt: "Health reform is high on the political agenda in California, and things are moving fast. CalHealthReform.org was created to help keep Californians up-to-date on the major proposals, analyses, hearings, and news. We also provide resources to help explain the issues and a discussion forum where you can share your ideas." (California HealthCare Foundation)
Colorado Senate Approves Health Care Bill That Aims To Limit Premium Variation for Small Businesses
Excerpt: "The Colorado Senate on Monday approved a bill (HB 1355) that would prohibit insurers from considering claims history or the current health of employees when setting rates for small-business health plans, the Colorado Springs Gazette reports." (Kaiser Family Foundation)
Universal Coverage Legislation Unveiled in Congress
Excerpt: "Lawmakers in the U.S. House and Senate . . . introduced legislation that would extend Medicare to all Americans, from birth until the end of life. Sen. Edward Kennedy (D-Mass.), who is co-sponsoring the bill with Rep. John Dingell (D-Mich.), said the legislation would reduce costs and promote health information technology and preventive care." (Modern Healthcare; free registration required)
Excess Health Savings Account Contributions: Unusual Situations Surface More Often with HSAs
Excerpt: "Generally speaking, the correction of excess HSA contributions follows procedures similar to that of IRAs, such as the deadline to correct the excess contribution to avoid incurring a 6 percent excise tax -- the tax-filing due date, plus extensions -- and the calculation of net income attributable (NIA) to an excess contribution.' (Wolters Kluwer Financial Services)
(ADV) Welcome to new advertiser WinMill Software
Excerpt: "WinMill is the premier technology partner for benefit funds in the New York Metro area. We have worked with dozens of funds to rebuild or replace aging computer systems. No one knows more about the technology needed to support the benefit fund industry than we do. Our client list is impressive, and our references are impeccable. " (BenefitsLink.com)
Links to Items on Executive Comp, Benefits in General
Action Plan and Checklist - Section 409A Plan Amendment Deadline (PDF)
3 pages. Excerpt: "In some cases the rules permit several alternatives for consideration, which may add to the length of the amendment process. For many companies, this will mean the amendment (and full execution) of numerous individual agreements and plan documents." (Holme Roberts & Owen LLP)
Georgetown Law and Economics Research Paper: Deferred Compensation Revisited
Excerpt: "The tax rules governing deferred compensation, codified at section 409A, are harsh and complex. The rules are focused on the least important policy considerations and overlook the most important. Professors Halperin and Yale suggest a different approach, one that would make the law simpler, fairer, and more effective." (Social Science Research Network)
Newly Posted Events
ERISA Advisory Council To Hold First Meeting Of 2007 - Meeting Is Open To The Public And Press
in District of Columbia on May 11, 2007
presented by U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
The Basics of Health and Welfare Plans
in California on May 22, 2007
presented by No. Calif. Chapter of Certified Employee Benefits Specialists (ISCEBS)
What Are Our Options: Equity Compensation Under the Final 409A Regulations - Webcast
Nationwide on May 1, 2007
presented by Venable LLP
Newly Posted Press Releases
U.S. Secretary of Labor Elaine L. Chao Appoints New Members And Leaders To 2007 ERISA Advisory Council
U.S. Department of Labor, Employee Benefits Security Administration (EBSA)
InvestLink Launches .NET Platform - Offers the Most Advanced Delivery of Technology for Defined Contribution
InvestLink
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Compliance Specialist
for CCA Strategies
in IL
Benefits Analyst Sr.
for Countrywide Financial
in AZ
Account Manager
for ING, Financial Services
in NY
Compensation Consultant/Program Manager
for Hewitt Associates
in IL
Employee Benefit Specialist
for Principal Financial Group
in AL
Retirement Plan Consultant
for Diversified Investment Advisors
in TX
Pension Specialist
for Diversified Investment Advisors
in FL
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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