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| May 7, 2007 |
Sponsored by: Mid-Sized Pension Management Conference
(Click on company name or banner to learn more.)
| Safe Passage for Your Retirement Plan |
| Do you feel as though your retirement program is in dry dock, holding you back from exploring the open waters of plan management? Navigating the multitude of new management strategies has gotten even more difficult with the passage of the PPA 2006. There is good news ahead! It's all hands on deck for the Mid-Sized Pension Management Conference, May 8-11 in Boston. This is the one program that provides real, take away solutions to your 401(k) or DB plan issues, allowing you to reach your company's goals and help your employees meet their retirement income needs. |
Overview: HIPAA National Provider Identifiers Go into Effect
Excerpt: "On May 23, 2007, HIPAA's national provider identifier (NPI) requirements will take effect for most health care providers, health plans and other covered entities." (Ballard Spahr Andrews & Ingersoll, LLP)
A Big-Business Coalition Will Lobby Sacramento and D.C. to Expand Coverage to All
Excerpt: "Abandoning the business lobby's traditional resistance to healthcare reform, a new coalition of 36 major companies plans to launch a political campaign today calling for medical insurance to be expanded to everyone along lines Gov. Arnold Schwarzenegger is proposing for California." (Los Angeles Times; free registration required)
AALU Hears Warnings of Federal Action Against Life Insurance Tax Benefits
Excerpt: "Congressional action that might seriously undermine the tax benefits associated with life insurance consumed much of the debate among a panel of 4 experts during the 50th annual meeting of the Association of Advanced Life Underwriting, Falls Church, Va., held here last week." (The National Underwriter Company; free registration or paid subscription required)
Figuring in the High Cost of Retiree Health Benefits for Public Employees
Excerpt: "Most cities, counties and school districts in Minnesota are not setting aside money to pay future health benefits promised to retirees. Health care obligations are the main reason retirement liabilities could reach $3.3 billion over the next 30 years, according to a recent government report." (Star Tribune; free registration required)
Reps. Kennedy and Ramstad Release Report on Hearings on Mental Health Parity Legislation
Excerpt: "Reps. Patrick Kennedy (D-R.I.) and Jim Ramstad (R-Minn.) . . . released a summary of 14 field hearings conducted nationwide on mental health parity legislation, CQ HealthBeat reports . . . ." (Kaiser Family Foundation)
Mental Health Survey Reveals Problems and Opportunities
Excerpt: "Mental illness is the leading cause of indirect costs associated with lost work time, but employees still shun treatment, and managers are ill prepared to deal with the problem, HR-benefits directors report. Those are among the views shared by 515 respondents in a new survey, 'Innerworkings: A Look at Mental Health in Today's Workplace,' conducted by Employee Benefit News with help from The Partnership for Workplace Mental Health and funding from AstraZeneca Pharma.ceuticals LP." (Employee Benefit News)
Hospitals Claim HMO Unjustly Enriched by $50 Million Through Discount Abuse
Excerpt: "In the context of a dispute by health care providers with a managed care organization over proper reimbursement rates, a district court has held that the providers' claims survive ERISA preemption. Barnert Hosp. v. Horizon Healthcare Services, Inc., Slip Copy, 2007 WL 1101443 (D.N.J.) (April 11, 2007)" (Health Plan Law blog by Attorney Roy F. Harmon III)
Dental Tourism to China to Find Lower-Cost Dental Care Is Introduced
Excerpt: "If you have ever had a root canal, you may think 'dental tourism' is an oxymoron. But Ottawa entrepreneur David McConnell thinks it's a way U.S. and Canadian employees can combine affordable, high-quality dental care with an unforgettable trip to China." (Employee Benefit News)
Letter Concerning Remedies Under Genetic Information Nondiscrimination Act (PDF)
2 pages. Excerpt: "The understanding of employers and insurers has been that the intent of Congress in establishing title II of GINA was to regulate traditional employment practices -- hiring, firing, promotions -- in order to prohibit the use genetics information for these purposes." (American Benefits Council)
Opinion: Genetics Non-Discrimination Bill Needs Clarification (PDF)
2 pages. Excerpt: "Employers and insurers are seeking an important clarification to the Genetics Information Nondiscrimination Act ('GINA') so that employer sponsors of group health plans and health insurers are not subject excessive litigation and damages for matters related to the administration of health benefit plans." (American Benefits Council)
Many of the Self-Employed Must Purchase Health Insurance As Individuals Not Businesses
Excerpt: "The small businesses that struggle the most with health insurance may be the smallest of all: those with only one employee. . . . [Except for those in 11 states,] in dealing with insurance companies, the nation's estimated 20 million self-employed are on their own." (The New York Times; free registration required)
Small Businesses' Premiums Soar After Just One Worker's Illness
Excerpt: "[Smaller businesses face challenges] in Kansas and many other states where laws permit insurers to raise health premiums substantially for small employers when one worker incurs significant medical bills. And it is why . . . the struggles of small businesses -- which employ about 40 percent of the nation's work force -- are likely to become a central issue." (The New York Times; free registration required)
Tax to Pay for Health Plan in Illinois Faces Resistance
Excerpt: "Unlike efforts in other states, the plan would not simply shift or borrow money from existing programs but would be financed largely by a new tax on gross business receipts." (The New York Times; free registration required)
Washington State Governor Signs Bill To Expand Health Insurance
Excerpt: "Washington state Gov. Chris Gregoire (D) on Wednesday signed into law a bill that will expand health insurance to more residents and reduce health care costs in the state, the AP/Seattle Post-Intelligencer reports . . . ." (Kaiser Family Foundation)
Creating Better-Informed Pharmacy Consumers (PDF)
Excerpt: "Employee health plan sponsors that include a pharmacy benefit component face an increasing challenge with effectively educating beneficiaries due to emerging trends in consumer-focused plan designs." (International Foundation of Employee Benefit Plans)
Generic Drug Approvals: First-Time Generic Approvals: Ambien, Zoloft, Nimotop
Excerpt: "The US Food and Drug Administration (FDA) has approved first-time generic formulations for zolpidem tartrate 5-mg and 10-mg tablets for treatment of insomnia; sertraline hydrochloride tablets 150 mg and 200 mg for treatment of depression; and nimodipine 30-mg soft gelatin capsules for improved neurological outcome following subarachnoid hemorrhage." (Medscape; free registration required)
Senate Prescription Drug User Fee Reauthorization Bill Includes Drug Reimportation Provision
Excerpt: "The Senate . . . voted 63-28 to invoke cloture, or limit debate, on an amendment to a bill (S 1082) to reauthorize the Prescription Drug User Fee Act that would allow prescription drug reimportation from other nations, Dow Jones reports . . . ." (Kaiser Family Foundation)
Special Industry Report: Consumer Driven Health Care (PDF)
5 pages. Excerpt: "The theory of this new model in health care--in which consumers make rational decisions based on cost, quality and an incentive to save money--is hitting up against the realities of a marketplace that has just started changing to meet the demands of health care users." (Workforce Management; free registration required)
A Proposal to Expand State Coverage by the Colorado Consumer Health Initiative (PDF)
42 pages. Excerpt: "This proposal addresses the problems of the uninsured, the underinsured and the high cost of health care to individuals and businesses in Colorado." (Families USA)
Kennedy And Dingell Introduce 'Medicare for All' Legislation
Excerpt: "from Spencer's Benefits Reports: On April 25, Sen. Ted Kennedy (Mass.) and Rep John Dingell (Mich.) introduced companion bills in the House and Senate to provide all Americans a choice of Medicare or federal employee health care benefits." (Wolters Kluwer Law & Business)
Sen. Bennett Endorses Universal Health Insurance Bill Proposed by Sen. Wyden
Excerpt: "Sen. Bob Bennett (R-Utah) . . . announced his endorsement of the Healthy Americans Act (S 334), a bill introduced in January by Sen. Ron Wyden (D-Ore.) that would detach health insurance from employment and guarantee universal health insurance, the Deseret Morning News reports." (Kaiser Family Foundation)
Links to Items on Executive Comp, Benefits in General
'Age Friendly' Workplaces on the Rise
Excerpt: "With an estimated 70 percent of baby boomers saying they want or need to stay in the workforce longer, employment experts are emphasizing the need to create an 'age friendly' workplace, free from age bias and welcoming to mature workers. Even if many baby boomers ultimately retire earlier than they currently plan to, enough will stay on -- or reenter -- to swell the ranks of graying workers." (The Christian Science Monitor)
Effective Employee Communications
Excerpt: "Rather than an afterthought, communications should be a primary tool for increasing employee engagement, according to Christopher Chiames, a consultant with F&H Solutions Group." (Workforce Management; free registration required)
How to Ensure Your Employees Value Their Benefits Package (PDF)
10 pages. Excerpt: "When employees think about how much they earn, the figures that usually come to mind are the dollar amounts on their paychecks. Most employees don't appreciate the fact that their pay is only one part of the overall compensation equation. [Published November 2006]" (Charlton Consulting Group)
Overview: IRS's Clarifying Guidance on Completing the 2006 Form 990 (PDF)
2 pages. Excerpt: "The new guidance, which is presented in a Q&A format, is posted on the IRS website and addresses issues relating to the disclosure of information about officers, directors, trustees, key employees, highly compensated employees, and highly compensated professionals or other independent contractors." (Morgan, Lewis & Bockius LLP)
Why Men Die Younger than Women
Excerpt: "This review examines the mortality gap, primarily in the U.S. context, by providing an overview of the gender pattern in mortality, an explanation of its existence, and an assessment of how and why it has changed over time." (Geriatrics Aging via Medscape; free registration required)
For DaimlerChrysler, the Chrysler Deal Is About More Than Cash: Benefits Liabilities Are Key Factor
Excerpt: "The price for the Chrysler Group might not matter as much to DaimlerChrysler AG officials as shedding the division's huge pension and health care liabilities does. If the German company can get a deal where those liabilities -- which have been estimated to be in the $16.5-billion to $19-billion range -- are eliminated from its balance sheet, it might accept a sale price that on its own would seem low, the Free Press has learned." (Detroit Free Press)
Newly Posted Events
401(k) Plan Workshop
Nationwide on May 11, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Illinois on May 11, 2007
presented by SunGard Relius
401(k) Plan Workshop
in North Carolina on May 11, 2007
presented by SunGard Relius
401(k) Plan Workshop
in Ohio on May 11, 2007
presented by SunGard Relius
Changing Behavior or Changing Attitudes: Which Comes First? - Webcast
Nationwide on May 24, 2007
presented by International Foundation for Retirement Education (InFRE)
Focus on Health and Welfare Plans
in Virginia on May 17, 2007
presented by Capital Chapter ISCEBS
Form 5500 Preparation Workshop
in District of Columbia on June 6, 2007
presented by Capital Chapter ISCEBS
Form 5500 Preparation Workshop
in District of Columbia on June 6, 2007
presented by Capital Chapter ISCEBS
Form 5500 Workshop
in Illinois on May 10, 2007
presented by SunGard Relius
Form 5500 Workshop
in North Carolina on May 10, 2007
presented by SunGard Relius
Form 5500 Workshop
in Ohio on May 10, 2007
presented by SunGard Relius
Form 5500 Workshop
Nationwide on May 10, 2007
presented by SunGard Relius
Newly Posted Press Releases
AARP Supports Bipartisan Legislation to Give Workers Retirement Savings Options
AARP
Women's Retirement Security Act Of 2007 Introduced
American Council of Life Insurers
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Senior Communications Development Account Manager
for New York Life Investment Management - Retirement Plans Services
in MA
Actuarial Benefit Consultant
for Fidelity Investments
in IL, NC, NY, TX
401(k) Administrator/Consultant
for Madison Pension Services, Inc.
in NY
Senior Benefit Analyst
for Ameriprise Financial
in MN
Senior Marketing Manager
for Transamerica Retirement Services
in CA
401(k) Administrator
for R.L. Billings and Company
in IA
Retirement Plan Services Representative
for The Capital Group Companies
in IN
Employee Benefits Insurance Sales Professionals
for One of the nation's leading providers of Outsourced Business Services
in DC, FL, MD, PA
Client Relationship Consultant
for Gallagher Retirement Services
in NJ, NY, PA
Actuarial -- exams preferred
for Benefit Jobs LLC
in ANY STATE
Labor Relations Liaison
for University of California, Office of the President
in CA
Defined Contribution Plan Administrator
for Shore Tompkins Actuarial Resources
in IL
Analyst/Consultant
for ESOP Economics, Inc.
in PA
Account Manager - Employee Benefits
for NEMCO Brokerage, Inc.
in NY
Account Manager (Insurance/TPA)
for Zenith Administrators
in NV
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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