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January 19, 2007
Sponsored by: International Foundation of Employee Benefit Plans
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The International Foundation of Employee Benefit Plans is a comprehensive resource for those working with benefit plans. Members enjoy personalized secondary research services, informative publications and online information, as well as discounted educational programs, books and distance learning options. Known as the cosponsor of the CEBS designation, the International Foundation also offers numerous ways to keep current with benefit issues, so you are prepared to answer your participants' questions.
Massachusetts Law Threatens Bottom Line of Not-for-Profit Health Providers
Excerpt: "Massachusetts' new health insurance law 'is creating an unexpected financial crisis for many clinics, nursing homes and other health care providers,' the Boston Globe reports." (Kaiser Family Foundation)
Court Deals Potential Setback to California Health Plan
Excerpt: "A federal appellate court this week struck an indirect but potentially fatal blow to one of the most controversial pieces of Gov. Schwarzenegger's comprehensive health insurance plan -- requiring employers to either provide coverage to workers or pay 4% of their payrolls into a state insurance purchase pool." (The Fresno Bee)
President Bush Urges Congress To Pass Genetic Privacy Bill
Excerpt: "President Bush . . . called on Congress to pass legislation to ensure the privacy of genetic testing results, the New York Times reports. Experts say safeguarding genetic privacy would encourage millions of U.S. residents to undergo testing for cancers and other diseases that could lead to earlier detection and treatment . . . ." (Kaiser Family Foundation)
Managed Care Technology Expert Predicts Profound Changes to U.S. Health Care System in 2007
Excerpt: "Profound changes are in store for the U.S. healthcare system in 2007, according to Jeff Margolis, chairman and CEO of The TriZetto Group Inc. . . ., whose technology touches nearly 50% of the U.S. insured population. A 20-year leader in developing information-technology systems for the managed-care industry, Margolis offers his top predictions for next year and beyond . . . ." (Business Wire via Human Resource Executive Online; free registration required)
Retail Industry Leaders Association v. Fielder: A Case of Preemption over Federalism
The target page presents an overview of the court's ruling with commentary on various aspects. (Health Plan Law: posted by Roy F. Harmon III)
More Employers Are Offering Commuter Benefits to Alleviate the Burden on Their Employees
Excerpt: "To combat the daily commuting hassles, the most common strategies used by employers are flextime (43%), telecommuting (27%), encouraging carpools (16%), tax-free commuter benefits (15%), facilitating vanpools (11%) and increasing employee compensation in response to the climbing cost of gas (9%), reveals TransitCenter's recent poll of 312 HR executives." (Employee Benefit News)
HIPAA's National Provider Identifier -- Why Health Plans Should Care
Excerpt: "Beginning on May 23, 2007, yet another of the Health Insurance Portability and Accountability Act's (HIPAA's) administrative simplification provisions will go into effect. On that date, all covered health care providers must have obtained a new national unique identifier, known as the National Provider Identifier, or 'NPI.'" (Kirkpatrick & Lockhart Preston Gates Ellis LLP)
Commentary on Consumer-Directed Health Plans and Health Savings Accounts
Excerpt: "One reason employers may be less excited about these products is that their average national total cost (the HDHP premiums plus the employer contributions to an HSA or HRA, if employers make such a contribution) is no lower than that of traditional plans (like HMOs and PPOs)." (Pension & Benefits Blog)
Groups Propose Health Plan for Coverage of Uninsured
Excerpt: "A broad coalition of business and consumer groups, doctors, hospitals and drug companies laid out a major proposal on Thursday to provide health coverage to more than half of the nation's 47 million uninsured by expanding federal benefit programs and offering new tax credits to individuals and families." (The New York Times; free registration required)
Opinion: The Quest for Health Care Reform and How Insurance Companies Control Our Heath Care
Excerpt: "What is beyond dispute is that the American system of financing health care is incredibly successful and lucrative, the best in the world - for insurance companies. What remains undemonstrated is whether insurance companies are good for our health care system." (Alibi via Physicians for a National Health Program)
California Health Care Reform Proposal Follows ME, VT, And MA in Statewide Initiatives
Excerpt: "from Spencer's Benefits Reports: If enacted into law, the January 8 health care reform proposals from California Gov. Arnold Schwarzenegger would follow three other states that have already enacted comprehensive health care reform. Mr. Schwarzenegger's proposals, which include an individual mandate and an employer tax for companies that do not provide health care coverage, are summarized [in the target page]." (Wolters Kluwer Law & Business)
Opinion: Top 10 Reasons for Enacting a Single Payer Health Care System (PDF)
Excerpt: "1. Everybody in, nobody out. Universal means access to healthcare for everyone, period -- the desire of 81% of all Californians, as reported in a January, 2007 Field Poll." (California Nurses Association and National Nurses Organizing Committee)
Treasury Approves Blue Healthcare Service's Application to Launch a Federal Savings Bank
Excerpt: "BHS's board of directors will convene in January to decide whether to operate Blue Healthcare Bank as an FSB rather than an industrial loan corporation (ILC), according to the Blue Cross and Blue Shield Association." (The AIS Report on Blue Cross and Blue Shield Plans via AISHealth.com)
Links to Items on Executive Comp, Benefits in General
Overview on Implementing FAS 158 for Year-End Financial Reporting
Excerpt: "In September, the Financial Accounting Standards Board (FASB) issued FAS 158, Employers' Accounting for Defined Benefit Pension and Other Postretirement Plans. For the most part, FAS 158 is remarkably simple. Companies will need to report on their balance sheet the funded status of their defined benefit plans and other postretirement plans." (CCA Strategies, LLC)
AALU Executive Reacts to Senate Deferred Compensation Proposal
Excerpt: "The Association for Advanced Life Underwriting is lobbying against the non-qualified deferred compensation provisions that were added Wednesday to the Senate Finance Committee's version of the minimum wage increase bill." (National Underwriter Life & Health; free registration or paid subscription required)
Overview of Updated 409A Guidance
Excerpt: "Last month, the Treasury Department issued Notice 2006-100, which provides updated guidance on withholding and wage reporting requirements for 2005 and 2006 under Internal Revenue Code Section 409A regarding nonqualified deferred compensation." (CCA Strategies, LLC)
Democrats Take Charge of the Legislative Agenda; Who's Who in the New Congress
Excerpt: "[W]hile the political winds definitely have shifted, in the short term, experts believe it will have little, if any, impact on benefits and retirement policy. After passage of the Pension Protection Act (PPA), legislators are 'pensioned out,' . . . . Executive compensation, however, is likely to get legislative scrutiny. Bigger shifts also may be in store if the Democrats retain control after 2008, particularly as to health-care benefits." (PLANSPONSOR.com; free registration required)
Law Firms Are Urged Not to Force Retirements
Excerpt: "A special committee of the New York State Bar Association is calling on law firms to end the practice of mandatory retirement for partners. In a strongly worded report that is to be released today, the committee concluded that 'mandatory retirement -- requiring a partner to leave the firm upon reaching an arbitrary age -- is not an acceptable practice.'" (The New York Times; free registration required)
Newly Posted Events
Successor Liability for Benefits in Asset Sales
Nationwide on February 13, 2007
presented by Paul, Hastings, Janofsky & Walker LLP
Newly Posted Press Releases
PBGC Assumes Kaiser Aluminum & Chemical Pension Plans
Pension Benefit Guaranty Corporation (PBGC)
Newly Posted or Renewed Job Openings
Senior Plan Administrator
for American National Insurance Company
in TX
Defined Contribution Compliance Consultant and Client Manager
for Results Oriented, Client Focused Retirement Plan Consulting Firm in PA
in PA
Retirement Sales Consultant
for John Mulligan & Associates, Inc.
in AK, AR, AZ, CA, CO, CT, DC, DE, IA, ID, IL, IN, KS, LA, MA, MD, ME, MI, MO, MS, MT, NC, NE, NH, NJ, NM, NV, NY, OK, OR, PA, RI, TN, TX, UT, VA, VT, WA, WI, WY
Retirement Plan Coordinator
for Capital Group Companies, Inc.
in CA
Group Benefits Operations Manager
for The Parker Group, Inc.
in CT, NJ, NY
Senior 401(k) / Retirement Plan Administrator
for Howard Simon & Associates, Inc.
in IL
Benefit Consultant
for APS - Arizona Public Service
in AZ
401(k) Plan Administrator
for Reed-Ramsey, Inc.
in IL
Pension Specialist
for Diversified Investment Advisors
in OR
Enrolled Actuary
for Summit Benefit & Actuarial Services, Inc.
in OR, WI
Handy Links:
- View Today's Active Message Threads
- Using the Web for Employee Benefits Research (hypertext article)
- Employee Benefits Library
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