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| August 15, 2007 |
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'Time Bomb' Health Costs: State's Estimated 30-Year Bill Adds Up to Nearly $20 Billion
Excerpt: "Under pressure from a national accounting board, state and local governments have started facing the long-term cost of underwriting health insurance for retired teachers and other employees. For Alabama, the estimated 30-year price tag amounts to almost $20 billion." (Press-Register (Alabama))
Few Public Sector Employers Understand Financial Implications of GASB Standards, Says Aon Consulting
Excerpt: "With city, state and county governments facing hundreds of billions of dollars in non-pension obligations to retirees, the majority of public sector employers have started to address new accounting standards to manage these liabilities. But few employers understand all the changes necessary to reduce their expense under these new rules, according to a survey by Aon Consulting, the human capital consulting firm of Aon Corporation." (CNNMoney.com)
Sen. Gregg Joins Co-Sponsors of Sen. Wyden's Universal Health Coverage Bill
Excerpt: "Sen. Judd Gregg (R-N.H.) is the latest Republican to sign on as a co-sponsor to legislation (S 334) from Sen. Ron Wyden (D-Ore.) that would detach health insurance from employment and guarantee universal health insurance, CQ HealthBeat reports . . . ." (Kaiser Family Foundation)
Leading the Way: State Health Reform Initiatives (PDF)
29 pages. Excerpt: "Governors cannot wait for federal solutions to the rising cost of health care and the growing number of the uninsured. As a result, health care reform efforts at the state level have been a priority for governors in recent years. States are approaching health care reform broadly and are aiming to improve cost containment efforts through quality improvement and measurement, incorporating prevention and wellness into their health plans, and using information . . . ." (National Governors Association)
San Francisco's Novel Health Plan for the Uninsured Is Attracting Members at a Fast Pace
Excerpt: "The program is expected to cost as much as $200 million annually, funded with taxpayer money, member co-payments and mandatory business contributions totaling about $30 million annually. San Francisco restaurants are fighting the proposed mandatory payments." (San Francisco Business Times via bizjournals.com; free registration required)
Companies Adopt Financial Incentives for Doctors
Excerpt: "Beginning in 2008, IBM, Wachovia, Novant-Presbyterian Healthcare, Belk and Duke Energy will reward physicians who provide quality care based on national standards. The five Charlotte, N.C. area companies have partnered with the Charlotte Health Care Collaborative in an effort to improve quality care for their workers." (Employee Benefit News; free registration required)
Opinion: Will Employers Shine in the Media Spotlight on Health Care?
Excerpt: "It's great to see health care getting some long-overdue public attention. What would be even better? Seeing more employers turn the tables on the industry. It would both lower the cost, and improve the quality, of employee health care benefits." (Employee Benefit News; free registration required)
Tying Health Benefits to Health Status: A Few Words of Caution
Excerpt: "To encourage workers to improve their health, some new insurance products provide supplemental benefits to members who meet specific health thresholds, such as a low body-mass index or cholesterol level, or practice certain healthy behaviors, such as not smoking. Some of these wellness programs are described by the vendors marketing them as being exempt from the Health Insurance Portability and Accountability Act (HIPAA) . . . ." (Watson Wyatt Worldwide)
Massachusetts Offices Overwhelmed by Number of State Health Plan Applicants
Excerpt: "Thousands of Massachusetts residents are unable to enroll in state-subsidized health insurance plans because the number of applicants is overwhelming state offices, the Boston Globe reports." (Kaiser Family Foundation)
CalPERS to Halt Global Screening
Excerpt: "Once touted as a bold initiative, a landmark strategy that barred investments in politically troubled emerging market countries was scrapped Monday by trustees of the California Public Employees' Retirement System. The move comes as the $245 billion pension fund increasingly looks to boost investments in public and private markets worldwide, especially in fast-growing countries such as China. The changing landscape could include the opening of foreign real estate investment offices." (The Sacramento Bee; free registration required)
Presidential Candidates Passionately Promise Change in Employer-Sponsored Care
Excerpt: "From Giuliani to Obama, candidates talk about overhauling employer-sponsored health care plans -- in one way or another. But one analyst thinks it's more about commitment to a cause than creating a presidential policy blueprint." (Workforce Management; free registration required)
Fair Market Value in Health Care Transactions (PDF)
23 pages. Excerpt: "This paper will address the varying requirements for fair market value in transactions involving physicians and hospitals and other health care providers. The paper will first examine the Stark law and how and when transactions may satisfy Stark's requirements for fair market value. Second, the use of fair market value for compliance with the federal Anti-Kickback statute will be addressed. The paper will then address the implications of fair market value for . . . ." (Haynes and Boone, LLP)
Firms Dock Pay of Obese, Smokers
Excerpt: "Companies seeking to cut rising health care costs are starting to dock the pay of overweight and unhealthy workers. Clarian Health, an Indiana hospital chain, will require workers who smoke to pay $5 out of each paycheck starting in 2009. For workers deemed obese, as much as $30 will be taken out each paycheck until they meet certain weight, cholesterol and blood pressure standards." (The Washington Times)
The 2008 Presidential Candidates on Health Care Reform (PDF)
10 pages. Excerpt: "While it is still early in the campaign process and plan details are incomplete for most candidates, these summaries provide a snapshot of the candidates and their blueprint for reform. Our intent is to be thorough and accurate in compiling what they have said or indicated they want to do. As their plans take shape we intend to explain what their proposals mean for the health care system and for Americans' ability to have access to affordable coverage." (Council for Affordable Health Insurance)
Palm Beach Community College Refuses to Offer Domestic Partner Benefits
Excerpt: "Adding domestic partner benefits would not have cost the college anything because it pays only for employee benefits and not the benefits of an employee's spouse or child." (South Florida Sun-Sentinel)
Ten Healthy Reasons to Take a Vacation
Excerpt: "Not only do Americans get a meager amount of vacation time, they also tend not to use it all, according to Expedia.com's seventh annual Vacation Deprivation survey, conducted this spring. . . . It's not clear whether vacations cause better health or whether they are just an indicator of healthier lifestyles. But taking time off does appear to have physical and mental benefits." (Forbes.com)
Congress May Expand Family and Medical Leave Act
Excerpt: "Despite resistance from business groups, the Democratic-led Congress appears to be growing sympathetic to the idea of providing workers with more time off to tend to their families." (McClatchy Newspapers)
NFIB Endorses Legislation Allowing Prescription Drug Reimportation
Excerpt: "The National Federation of Independent Business has announced its endorsement of legislation (S 242 and HR 380) that would allow the purchase of lower-cost, FDA-approved drugs from other nations, CQ HealthBeat reports . . . ." (Kaiser Family Foundation)
Overview of IRS Adoption of Final Child and Dependent Care Tax Credit Regs
Excerpt: "Final regulations relating to the child and dependent care tax credit (Code Sec. 21) have been adopted. These regulations, which reflect law changes since 1984, apply to tax years ending after August 14, 2007. The final regulations adopt, with changes, proposed regulations that were published on May 24, 2006 (NPRM REG-139059-02)." (CCH INCORPORATED)
Offspring of Obese Mothers and Risk for Certain Birth Defects
Excerpt: "Compared with nonobese mothers, obese mothers have an increased risk of having children with spina bifida, heart defects, and other birth defects, according to the results of a study reported in the August issue of the Archives of Pediatrics and Adolescent Medicine." (Medscape)
Newly Posted Events
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Nebraska on September 11, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Nebraska on September 13, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Colorado on September 18, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Connecticut on September 19, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Minnesota on September 19, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Colorado on September 20, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Minnesota on September 21, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Montana on September 21, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Wisconsin on September 26, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in New York on September 26, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Alabama on September 27, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in Wisconsin on September 28, 2007
presented by BISYS Retirement Services
2007 Fall Tour: Beyond the Essentials: Beneficiary Issues and Answers
in New York on September 28, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Nebraska on September 10, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Nebraska on September 12, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Colorado on September 17, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Connecticut on September 18, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Minnesota on September 18, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Colorado on September 19, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Minnesota on September 20, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Montana on September 20, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in New York on September 25, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Wisconsin on September 25, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Alabama on September 26, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in New York on September 27, 2007
presented by BISYS Retirement Services
2007 Fall Tour: IRA Essentials
in Wisconsin on September 27, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: 72(t) Payments
Nationwide on September 25, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Conversions and Recharacterizations
Nationwide on September 18, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Direct Rollovers and Other Portability Issues
Nationwide on September 13, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Handling IRA Legal Issues
Nationwide on September 11, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: Introduction to Qualified Retirement Plans
Nationwide on September 6, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: IRA Contributions
Nationwide on September 27, 2007
presented by BISYS Retirement Services
2007 Web/Telephone Seminar: SIMPLE IRA Plans
Nationwide on September 20, 2007
presented by BISYS Retirement Services
Cross-Tested Plan Workshop
in Georgia on August 29, 2007
presented by SunGard Relius
Cross-Tested Plan Workshop
in Kansas on August 29, 2007
presented by SunGard Relius
Cross-Tested Plan Workshop
in Washington on August 29, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plan Workshop
in Washington on August 30, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plans Workshop
in Georgia on August 30, 2007
presented by SunGard Relius
Safe Harbor 401(k) Plans Workshop
in Kansas on August 30, 2007
presented by SunGard Relius
Staff Management 101
Nationwide on August 30, 2007
presented by HRTrainingCenter.com
Newly Posted Press Releases
Hewitt Launches New Tool to Help Companies Quantify Cost Impact of Value-Based Health Care Designs
Hewitt Associates LLC
Working Mother Magazine and Flex-Time Lawyers Announce the First-Ever List of the 2007 Best Law Firms for Women
Working Mother Media
pSivida completes recruitment of European Pancreatic Cancer Study
Coalition Representing Public Workers Calls Pension Initiative "Mean Spirited and Unfair;" New Proposal Slashes Retirement for Nurses, Teachers, Firefighters and Peace Officers up to 60%
Californians for Health Care and Retirement Security (CHCRS)
Book Review: Nine Keys to Winning Baby Boomers' Assets at Retirement
RetirementDictionary.com
Newly Posted or Renewed Job Openings
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Associate Consultant, Retirement Practice
for The Bostonian Group
in MA
Benefits Administrator
for JPMorgan Retirement Plan Services
in IL
Client Service Representative - consultation
for Union Central Life Insurance, a member of the Unifi Companies
in OH
Financial Analyst - Pricing
for SHPS
in GA
Defined Contribution Specialist
for CAPTRUST Financial Advisors
in NC
Conversion Manager
for Charles Schwab
in OH
Defined Contribution Plan Administrator
for Papalia Retirement Plan Services, Inc.
in PA
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