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| August 2, 2007 |
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Educating Patients to Protect Themselves Against Medical Errors
Excerpt: "Some employers are trying to change the health system to prevent medical errors from occurring. Others may opt to provide employees with tools that will help them make better decisions about their medical care." (Workforce Management; free registration required)
How Benefit Shifts Can Boost Company Credit Ratings
Excerpt: "Companies may get an added boost--beyond just a balance-sheet improvement--by transferring retiree heath-care benefits to workers. The move could have a modest brightening effect on company's corporate credit metrics, says a new report from Moody's Investors Service." (CFO.com)
NCQA Asks PPOs To Supply HEDIS Figures
Excerpt: "The National Committee for Quality Assurance wants preferred provider organizations to report on members' mammogram rates and childhood immunization rates. The NCQA, Washington, is setting up a new Health Plan Accreditation standards program." (The National Underwriter Company; free registration or paid subscription required)
Judge Orders Continental Tire to Fulfill Contract, Pay Health Care Costs for Retired USW Workers
Excerpt: "Federal Judge Jack Zouhary of the U.S. District Court for the Northern District of Ohio Western Division told the German-based tire company to fulfill its contractual obligations to the retired workers from plants in Charlotte, N.C.; Mayfield, Ky. and Bryan, Ohio, and is expected ultimately to enter final relief on behalf of 2,000 affected retirees." (Business Wire via Human Resource Executive Online; free registration required)
Advisory Group on Health IT Standards Begins To Privatize
Excerpt: "HHS this month is set to begin the process of privatizing the American Health Information Community by releasing an initial notice of the availability of a competitively awarded grant for establishing an AHIC successor organization, Government Health IT reports." (California HealthCare Foundation; free registration may be required)
Confusion, Problems Are Resulting from HIPAA Minimum Necessary Standard
Excerpt: "[T]echnically, the minimum-necessary concept is not supposed to be applied to the disclosure of protected health information (PHI) for treatment purposes at all, although it is supposed to be applied to the use of PHI for treatment purposes." (Report on Patient Privacy via AISHealth.com)
Specialty Pharmacy Spending Still Increasing, As New Drugs Show Impact
Excerpt: "According to an Express Scripts analysis of IMS Health data, 2006 U.S. specialty drug spend was $54 billion, or 20% of the overall prescription drug spend. The PBM also estimates that by 2010, specialty drug spend will represent 26% of the overall prescription drug spend - $99 billion." (Specialty Pharmacy News via AISHealth.com)
Six Health System Innovations to Increase Productivity, Cut Costs and Extend Coverage
Excerpt: "[The target page proposes] six innovations that could transform the health system, while offering universal coverage. These innovations cover technological, managerial and governmental waterfronts, but stress entrepreneurial and consumer input and engagement." (HealthLeaders Media)
Patient Access to Electronic Health Record with Secure Messaging: Impact on Primary Care Utilization
Excerpt: "Conclusion: Patient access to the secure messaging feature of KP HealthConnect™ Online was associated with decreased rates of primary care office visits and telephone contacts." (The American Journal of Managed Care)
Universal Health Care Plan to Go Into Effect in September in the Dominican Republic
Excerpt: "Implementation of a new universal health care system has been postponed until September 1, 2007, to give the government more time to educate the public. The system will be financed by employer and employee contributions. The National Council for Social Security approved the new system on February 22, 2007. It was originally expected to go into effect on May 31, 2007." (Watson Wyatt Worldwide)
Links to Items on Executive Comp, Benefits in General
IASB Web Site on the Post-Employment Benefits, Including Pensions, Project
Excerpt: "In July 2006, the IASB added a project on post-employment benefits to its agenda. The project is to be conducted in two phases, which would involve a fundamental review of all aspects of post-employment benefit accounting." (International Accounting Standards Board)
Employment Status of Workers Ages 55 or Older (PDF)
Pages 2-7 of 12. Excerpt: "More older workers in the labor force: An increasing percentage of older Americans are in the labor force: Those ages 55 or older in the labor force increased from about 38 percent in 1993 to 45 percent in 2006. For those ages 65-69, the percentage increased from about 18 percent in 1985 to 29 percent in 2006." (Employee Benefit Research Institute)
An Impending Collision at the Intersection of Code Section 457 and Code Section 409A (PDF)
4 pages. Excerpt: "[The IRS] issued Notice 2007-62 announcing that new guidance will be issued under Code Section 457, a provision that is applicable to nonqualified deferred compensation plans of state and local governments and tax-exempt entities. If the anticipated guidance described in the Notice is actually issued, it will dramatically affect the design of Code Section 457(f) plans and eliminate or greatly restrict certain practices that are commonly used in many such plans." (Jones Day)
Annual Global Pay Study: Key Differences between U.S. and European Pay Practices
Excerpt: "According to Hay Group's 2006 Top Executive Compensation study, 63% of U.S. companies surveyed are providing time-vested restricted share plans to eligible employees. In contrast, less than 5% of European companies reported granting restricted shares as part of their equity plans." (Hay Group)
Nonqualified Plan Findings: 2006 Executive Benefits and Perquisites Survey
Excerpt: "Hay Group's 2006 executive benefits and perquisites survey examines the prevalence and characteristics of various programs, with a particular focus on nonqualified plans. . . . Overall, 63% of the participating organizations currently maintain some form of nonqualified retirement plan--whether defined benefit (DB), defined contribution (DC), or employee deferred compensation plan." (Hay Group)
Is Private Equity in Your Company's Future?
Excerpt: "For companies targeted by private equity firms, we have developed [this] primer on compensation and benefits considerations. In general, these deals are very complex and involve their own terminology, which can be confusing to the uninitiated." (Hay Group)
Listing of IRS Published Guidance for January-July 2007
The target page links to guidance published by the Service relating to retirement plans: Treasury Regulations; Revenue Rulings; Revenue Procedures; Notices; and, Announcements. (Internal Revenue Service)
What to Do When Employees Return from Active Military Duty (PDF)
Excerpt: "This article will provide an overview of the act protecting service members with special emphasis on reemployment rights and provide guidance to employers regarding their obligations as military personnel return to reclaim the lives they left behind." (New Jersey Lawyer via Drinker Biddle & Reath LLP)
Overview: IRS Guidance on Tax Treatment of Transfers of Stock Subject to Code Sec. 83 Restrictions
Excerpt: "The IRS has issued a revenue ruling providing guidance on the tax consequences under Code Sec. 83 when restrictions are imposed on substantially vested stock, causing that stock to become substantially nonvested." (Wolters Kluwer Law & Business)
Chart: Employment Costs in Private Industry, June 2007
Excerpt: "Benefit costs for private industry rose sharply by 1.1 percent, compared to a decline of 0.3 percent the previous quarter." (U.S. Bureau of Labor Statistics)
Fortune Learns It's Great to Work at Google
Excerpt: "Now that Google has been around long enough to be eligible for Fortune Magazine's 'The 100 Best Companies to Work For' list, it promptly debuted at number one." (webpronews.com)
Complying with Final Section 409A Regulations: The Clock is Ticking
Excerpt: "Many employers have a great deal of work to do -- before January 1, 2008 -- to ensure that every nonqualified deferred compensation arrangement they maintain complies with both the written and the operational requirements of the final Treasury regulations under Section 409A of the Internal Revenue Code." (Hay Group)
Newly Posted Events
Free Webinars -- COBRA, 2006 and 2007 Legal Update with Craig J. Davidson, CEBS
Nationwide on August 21, 2007
presented by Davidson Marketing Group -- FutureOffice Network
The Final 403(b) Regulations: What you need to know!
Nationwide on August 29, 2007
presented by McKay Hochman Co., Inc.
The Final 403(b) Regulations: What you need to know!
Nationwide on September 10, 2007
presented by McKay Hochman Co., Inc.
Newly Posted Press Releases
AARP Survey Finds More Than 80 Percent of 401(k) Participants Are Unaware of Fees Associated With Their Plans
AARP
Committee Explores Barriers to Prompt Payments by Health Insurance Companies
U.S. House Small Business Committee
More Americans Age 55 and Older Are Working Full Time
Employee Benefit Research Institute (EBRI)
The SPARK Institute Raises Concerns Over "401(k) Fair Disclosure Retirement Security Act"
SPARK Institute
Judge Orders Continental Tire to Fulfill Contract, Pay Health Care Costs for Retired Workers
United Steelworkers
Working After Retirement
U.S. Railroad Retirement Board
The Paradox of Asset Allocation for Retirement Plan Participants: A Blessing or a Curse?
Compass Institute, LLC
Newly Posted or Renewed Job Openings
(Post a Job | View All Jobs)
Employee Benefits & Executive Compensation Associate
for Morgan, Lewis & Bockius LLP
in PA
Senior Sales Rep
for ING, US Financial Services
in IN, KY, OH, PA, TN, WV
RVP/External Wholesaler - Western Upstate New York
for Transamerica Retirement Services
in NY
Business Development Consultant
for ING, US Financial Services
in CT
401(k) & DC Administrator
for Flynn, Shojinaga & Associates, Inc.
in CA
Calculation Configuration Analyst
for SBC Systems
in GA
Proposal Writer
for New York Life Retirement Plan Services
in MA
Administrative Assistant/Trust Accountant
for The Nolan Company
in KS
Benefits Administrator
for Eisner Retirement Solutions
in NY
Senior Associate Health & Welfare
for Buck Consultants
in CA
WRS Relationship Manager I
for Wachovia
in NC
Senior Manager, Benefits - Retirement Plans
for Sodexho USA
in MD
Director Health & Welfare Dallas
for Buck Consultants
in TX
Human Resources Service Center Rep.
for TJX Companies
in MA
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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