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(a) New Guidance Documents (None today.) (b) News Union Says G.M. Health Plan Misses Drug Savings Excerpt: "Even though General Motors and the United Automobile Workers have just reached a major settlement aimed at easing the automaker's health care liability, the union's umbrella organization says the company's board has not done all that it could to hold drug costs down." (The New York Times; free registration required) Means Test Sought for Medicare Drug Plan Excerpt: "The Bush administration is advancing a proposal to levy higher premiums and deductibles on upper-income seniors enrolled in Medicare's new prescription drug benefit, raising fees on beneficiaries with incomes over about $80,000 a year, administration officials said yesterday." (The Washington Post; free registration required) Ford Interested in VEBA; Chrysler Seeks UAW Concessions Previously Granted to GM, Ford Excerpt: "Ford Motor Executive Chair Bill Ford on Wednesday said that company executives largely are satisfied with the model set by the tentative contract between United Auto Workers and General Motors, which includes the creation of a voluntary employees' beneficiary association, the Detroit Free Press reports . . . ." (Kaiser Family Foundation) Your Health Data, Plugged In to the Web: Microsoft Promises Privacy on New Portal Excerpt: "Microsoft launched a free, ad-supported online health portal called HealthVault yesterday that allows people to upload their medical records to the Web and share the information with doctors." (The Washington Post; free registration required) IT Professionals, Others Chime In on Microsoft's Health Information 'Vault' System Excerpt: "The plan is to offer personal health care records online via a system called HealthVault. Numerous big names in the medical field have signed up for the service, including the 'American Heart Association, Johnson & Johnson LifeScan, NewYork-Presbyterian Hospital, the Mayo Clinic and MedStar Health'. The ultimate purpose of the service is to provide an online accessible but highly secure service to patients and medical facilities . . . ." (Slashdot) (c) Summaries of Guidance; Filed Comments Hewitt Federal Legislation Quick Guide Updated October 3, 2007, for Health and Welfare Plans (PDF) 8 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) Second Circuit Reviews Circuit Split on Remand Orders Excerpt: "In previous posts providing an overview when district court remands to plan administrators may be appealed, little could be said about the Second Circuit Court of Appeals position. The recent case, Giraldo v. Building Service 32B-J Pension Fund, while not providing a definitive position, nonetheless provides insight as to the Second Circuit's view on the issue." (Health Plan Law blog by Attorney Roy F. Harmon III) (d) Trends, Surveys, Research National Project to Provide Health Care Quality, Cost Data Online Excerpt: "The Robert Wood Johnson Foundation has pledged $15.9 million in grants to develop and test a national model for reporting health care cost and quality data to the public, Health Data Management reports." (California HealthCare Foundation) Employers Offer Help on College Admissions Excerpt: "Companies are rolling out a new benefit that aims to alleviate a big source of stress for many middle-aged employees: help getting their kids into college.' (The Wall Street Journal Online) Seasonal Allergies Cost Employers Millions Per Year Excerpt: "The allergy season . . . brings high absenteeism and decreased productivity in the workplace. Dr. David Hagaman, medical director of the Vanderbilt University asthma, sinus and allergy program in Tennessee, estimates his allergy patients miss an average of two days of work during the season." (The Business Journal of Milwaukee via bizjournals.com; free registration required) (e) Policy, Opinion, Advocacy The Impact of Guaranteed Issue and Community Rating Reforms on Individual Insurance Markets 49 pages. Excerpt: "As states consider proposals to expand access to health care coverage, a new study assesses the impact of prior efforts in states across the country. Over the past decade, numerous states have launched 'insurance reforms' with significant unintended consequences. A number of these initiatives were repealed or significantly changed within a few years of implementation. The study by Milliman, Inc. on behalf of America's Health Insurance Plans (AHIP) examined what happened." (America's Health Insurance Plans) Links to Items on Executive Comp, Benefits in General Is This the End for Patenting ERISA Strategies? Excerpt: "I have written before about the particular question of whether ERISA strategies should be subject to patent, and, as I discussed in a BNA article on the subject, I don't run with those who think business method patents should be pushed that far. The Wall Street Journal law blog has an interesting post . . . that touches on all of this, in particular on a new appellate decision concerning business method patents that may well drive the final nail in the coffin on the idea of patenting ERISA strategies." (Stephen D. Rosenberg via Boston ERISA Law Blog) Hewitt Federal Legislation Quick Guide for October 3, 2007, on Human Resources & Employment Law (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 human resources and employment law. (Hewitt Associates) Employers, Employees View Employee Benefits As 'Strategically Important,' While Struggling with Cost Control Excerpt: "From Spencer's Benefits Reports: Benefit plan sponsors continue to view employee benefits as 'strategically important,' and their top objective over the next five years continues to be to manage benefits costs, according to Prudential's recently released Study of Employee Benefits: 2007 and Beyond." (Wolters Kluwer Financial Services) Broad Definition of Deferred Compensation Arrangements Creates Potential Pitfalls for Employers Excerpt: "Voluminous final Treasury regulations were issued April 10 under Section 409A of the Internal Revenue Code. The section governs nonqualified deferred compensation arrangements -- a term that is broad in its reach. In addition to regulating traditional executive compensation and equity compensation arrangements, Section 409A also regulates compensation devices that many employers have not typically considered as deferred compensation." (Workforce Management; free registration required) Newly Posted Events Are You Being Overcharged For Your Retirement Plan? Most Plan Sponsors Are! with Roger Rovell and Steve Gissiner in Florida on November 8, 2007 presented by Investech Retirement Plan Services Deferred Compensation Arrangements Under Internal Revenue Code Section 409A - Webcast Nationwide on October 9, 2007 presented by Seyfarth Shaw LLP ERISA Litigation in Arizona on February 14, 2008 presented by ALI-ABA (American Law Institute-American Bar Association) ERISA Litigation - Webcast Nationwide on February 14, 2008 presented by ALI-ABA (American Law Institute-American Bar Association) Newly Posted Press Releases ASPPA and CIKR Support Uniform Fee Disclosure Requirements ASPPA (American Society of Pension Professionals & Actuaries) PBGC Assumes Best Manufacturing Inc. Pension Plan Pension Benefit Guaranty Corporation (PBGC) Mosse & Mosse's Philip Grisafi Elected President of the International Society of Certified Employee Benefits Specialists International Society of Certified Employee Benefit Specialists (ISCEBS) Newly Posted or Renewed Job Openings (Post a Job | View All Jobs | RSS Feed ) Asset Transfer Administrator for Vanguard in PA Sr. ERISA Consultant/Business Development for The Meyers Group in MA Benefit Analyst (Defined Benefits) for MassMutual Financial Group in Client Services Manager for AST Capital Trust Company in AZ Retirement Services Education Specialist for MassMutual Financial Group in GA National Accounts Communication Consultant for MassMutual Financial Group in MA Fund Accountant for AST Capital Trust Company in AZ Client Services Coordinator (Relationship Manager) for AST Capital Trust Company in AZ Medical Consultant for MassMutual Financial Group in CT 401(k) Retirement Plan Administrator for Medical-Dental Consultants, Inc. in RI Handy Links:
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