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=========================================================== BenefitsLink Welfare Plans Newsletter (Plain Text Format) October 22, 2004 =========================================================== We thank and invite your attention to today's sponsor: IQPC =========================================================== Conference on Curbing Obesity through Workplace Wellness Programs (Advert.) <URL:http://benefitslink.com/cgi/a_d.cgi?a_d=2004_10_22_welfare> http://benefitslink.com/cgi/a_d.cgi?a_d=2004_10_22_welfare (Click on above address, or copy and paste it into your web browser, to learn more.) Utilizing Wellness Programs to Decrease Costs, Increase Productivity, and Combat Obesity December 14 - 15th, 2004 * InterContinental Hotel * New Orleans, LA - Recognize how introducing wellness programs results in healthier employees and a healthier bottom line - Reduce abstenteeism and increase productivity through wellness programs including weight management/loss plans - Integrate wellness programs into health plans for your employees - Get lower health insurance rates for your company by helping employees lose weight and maintain a healthier lifestyle - Investigate the current and future obesity issues faced by the healthcare industry and hear best practices on how your organization can most cost effectively react (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Overview on Action Required by ERISA Fiduciaries in Recent Insurance Probe <URL:http://www.benefitscounsel.com/archives/001238.html> http://www.benefitscounsel.com/archives/001238.html Excerpt: "Recent news of Spitzer shaking up the insurance industry has filled the news over the past week. However, yesterday's article in the Wall Street Journal ... entitled 'Class-Action Threat Added to Challenges Facing the Insurers' discusses the impact of the probe on the employee benefits arena. ... The WSJ article states that 'the insurance probe started by New York Attorney General Eliot Spitzer into kickbacks and other improper incentives in the insurance industry is widening ....'" (Attorney B. Janell Grenier via Benefitsblog.com) ---------------------------------------------------------- Marsh Lawsuit Causes Suspension of Placement Service Agreements and Demand for Disclosure <URL:http://www.benefitnews.com/law/detail.cfm?id=6631> http://www.benefitnews.com/law/detail.cfm?id=6631 Excerpt: "New York Attorney General Eliot Spitzer's lawsuit against Marsh & McLennan Cos.could lead to the end of contingency commissions industry-wide. Marsh and two major insurers, Ace Ltd. and American International Group, already have suspended contingency fees, also called placement or market service agreements. Marsh has been accused ... of abusing those agreements by colluding with AIG, Ace, Hartford Financial Services Group and Munich Re to rig bids and steer business ...." (The Adviser) ---------------------------------------------------------- Kansas U.S. District Court Overturns Coverage Denial for a Cochlear Implant in Opinion (PDF) <URL:http://www.ksd.uscourts.gov/opinions/032434KHV-50.pdf> http://www.ksd.uscourts.gov/opinions/032434KHV-50.pdf 20 pages. US District Judge Kathryn Vratil overturned the decision to deny coverage to the plaintiff for a cochlear implant after losing her hearing. Judge Vratil said the denial was 'arbitrary and capricious.' Vratil also ruled that the coverage denial notices the plaintiff received from the health insurance plan didn't meet the requirements of the Employee Retirement Income Security Act. The case is Baker v. Tomkins Industries Inc., D. Kan., No. 03-2434-KHV, 10/7/04. (United States District Court, District Of Kansas) ---------------------------------------------------------- WSJ Examines Debate Over Cost Effectiveness of Disease Management Programs <URL:http://bcbshealthissues.com/proactive/newsroom/release.vtml?id=133799&PROACTIVE_ID=cecec6ceccc7cac7cdc5cecfcfcfc5cececbccc7cbcbcfccc8c5cf> http://bcbshealthissues.com/proactive/newsroom/release.vtml?id=133799&PROACTIVE_ID=cecec6ceccc7cac7cdc5cecfcfcfc5cececbccc7cbcbcfccc8c5cf Excerpt: "The Wall Street Journal [10/20/04] examined the debate over the long-term cost effectiveness of disease management programs for individuals with chronic illnesses. .... According to the Journal, 'plenty of evidence' exists on the ability of disease management programs to improve quality of life, limit progression of disease and reduce hospitalizations for individuals with chronic illnesses. However, 'we still don't know what the economic impacts of disease management are' ...." (The National Journal Group via BlueCross BlueShield Association) ---------------------------------------------------------- With Another Round of Double-Digit Increases in Health Plan Premiums Seen, CDH Products Surge <URL:http://www.benefitnews.com/health/detail.cfm?id=6634> http://www.benefitnews.com/health/detail.cfm?id=6634 Excerpt: "Health plans predict 11.5% premium rate increases for next year, down from 12.8% this year, according to the Sherlock Co.'s ... annual Health Plan Pricing Survey. Employee contributions are expected to be 18.2%, double the employer contribution of 9.3% after the effect of buy downs. This continues the string of double-digit jumps, and that most likely is why new findings by the Milliman Group ... show HMOs and PPOs diving into the consumer-driven health field." (The Adviser) ---------------------------------------------------------- Overview: the Outlook of Retiree Health Benefits (PDF) <URL:http://www.tiaa-crefinstitute.org/Publications/resdiags/issue81.pdf> http://www.tiaa-crefinstitute.org/Publications/resdiags/issue81.pdf 11 pages. Excerpt: "Retirees are one group that is particularly vulnerable to health plan changes. This article looks at what employers have done in regard to sponsoring these benefits generally and then looks at what employers in higher education are doing for retired faculty." (Sylvester S. Schieber, Watson Wyatt Worldwide, via TIAA-CREF) ---------------------------------------------------------- Senator Kerry on Health Care <URL:http://nahu.timberlakepublishing.com/article.asp?article=1032> http://nahu.timberlakepublishing.com/article.asp?article=1032 Excerpt: "Today, a family's ability to ensure that all its members get the quality health care they deserve is challenged like never before. Roughly 45 million Americans have no health insurance at all. Even those with heath care coverage have seen costs soar dramatically � health insurance has increased by more than $2,600 for the typical family over the last three years. Skyrocketing health care costs not only hurt our families -- they hurt our economy." (National Association of Health Underwriters) ---------------------------------------------------------- President Bush on Health Care <URL:http://nahu.timberlakepublishing.com/article.asp?article=1031> http://nahu.timberlakepublishing.com/article.asp?article=1031 Excerpt: "I believe all Americans should have access to affordable, high-quality health care. Rising health care costs impose a burden on families and small businesses and put coverage out of the reach of many Americans. My plan will help reduce the rising cost of health care, provide new and affordable health coverage options for all Americans, and provide ... a path to greater opportunity, more freedom and more control over your own health care and your own future." (National Association of Health Underwriters) ---------------------------------------------------------- Side-by-Side Comparison Chart of Bush, Kerry Health Care Proposals <URL:http://www.nahu.org> http://www.nahu.org Excerpt: "NAHU has prepared a side-by-side comparison of the health care reform proposals offered by President Bush and Senator Kerry, looking at over a dozen different issues.' (Click on 'Side-by-Side Comparison' on the target page; the resulting document is in Microsoft Word format.) (National Association of Health Underwriters) ---------------------------------------------------------- Overview: Bush Administration's Proposed Solutions for Controlling Health-Care Costs (PDF) <URL:http://www.grantthornton.com/downloads/SepOct_04_JMPM_104379.pdf> http://www.grantthornton.com/downloads/SepOct_04_JMPM_104379.pdf 2 pages. Excerpt: "The first solution that makes up President Bush's health-care agenda has been enacted into law: HSAs. The second solution has been passed by the House and is stuck in the Senate: AHPs." (The Journal of Medical Practice Management via Grant Thornton) ---------------------------------------------------------- Overview: Recent Guidance from Treasury and Labor Departments About Health Savings Accounts <URL:http://www.dorsey.com/services/service_detail.aspx?FlashNavID=services_practice&page=pub_detail&serviceid=3713003&pubid=173369003> http://www.dorsey.com/services/service_detail.aspx?FlashNavID=services_practice&page=pub_detail&serviceid=3713003&pubid=173369003 Excerpt: "The Department of Labor's Field Assistance Bulletin established that although employer-sponsored HDHPs are ERISA plans, HSAs are generally not subject to ERISA, even if employers contribute to them. Therefore, HSAs are not required to comply with ERISA's reporting, disclosure, and fiduciary requirements. Employers risk making HSAs subject to ERISA if they take any of the following actions [listed in this overview]." (Dorsey & Whitney) ---------------------------------------------------------- Towers Perrin Legislative Tracking Chart -- Health and Welfare -- Updated October 21, 2004 (PDF) <URL:http://www.towers.com/towers/webcache/towers/United_States/publications/Periodicals/Leg_Tracking_Charts/2004_10_21/LTC_HW_2004_10_21.pdf> http://www.towers.com/towers/webcache/towers/United_States/publications/Periodicals/Leg_Tracking_Charts/2004_10_21/LTC_HW_2004_10_21.pdf 22 pages. The chart covers health Benefit mandates, health coverage incentives, Medicare, and other health and welfare bills. (Towers Perrin) ---------------------------------------------------------- Overview: Final COBRA Notice Regulations Issued by Department of Labor on May 26, 2004 <URL:http://www.dorsey.com/services/service_detail.aspx?FlashNavID=services_practice&page=pub_detail&serviceid=3713003&pubid=173369103> http://www.dorsey.com/services/service_detail.aspx?FlashNavID=services_practice&page=pub_detail&serviceid=3713003&pubid=173369103 Excerpt: "On May 26, 2004, the Department of Labor (DOL) issued final regulations on COBRA notice requirements. The final regulations largely follow the proposed regulations with minor changes and a few clarifications. A copy of the final regulations can be obtained at: http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-11796.pdf."; (Dorsey & Whitney) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Discount Rate Selection to Measure Liabilities for Disclosures Presents New Issues This Year <URL:http://www.towers.com/towers/webcache/towers/TP_Monitor/jsp/showdoc.jsp?webc=TP_Monitor/2004/10/articles/mon_article_1004a.htm> http://www.towers.com/towers/webcache/towers/TP_Monitor/jsp/showdoc.jsp?webc=TP_Monitor/2004/10/articles/mon_article_1004a.htm Excerpt: "Selecting a discount rate to measure liabilities for year-end financial disclosures is always an important process for employers sponsoring pension and retiree welfare plans, but there are special factors this year that may cause many companies to adopt a revised process. The financial and reporting requirements under the Sarbanes-Oxley Act, increased scrutiny by analysts and regulators, a heightened focus by audit firms on plan assumptions, ...." (Towers Perrin) ---------------------------------------------------------- US Airways Pilots Vote to Take 18% Pay Cuts and to Accept Elimination of Retiree Health Care <URL:http://www.nytimes.com/2004/10/22/business/22air.html> http://www.nytimes.com/2004/10/22/business/22air.html Excerpt: "The vote means members of the Air Line Pilots Association, ..., are exempt from the emergency cuts. Instead, their pay will be cut 18 percent a year, a total of $1.8 billion in savings for the airline through 2010. The new contract will also sharply reduce US Airways' contribution to the pilots' retirement plan, eliminate health care benefits for pilots after they retire, and increase the number of hours that pilots must fly each month." (The New York Times; one-time registration required) ---------------------------------------------------------- Opinion: Why Take G.ay Couples' Only Benefit Away with Michigan's Proposal 2 Amendment? <URL:http://www.freep.com/voices/columnists/elel21_20041021.htm> http://www.freep.com/voices/columnists/elel21_20041021.htm Excerpt: "About the only benefit we as a couple have enjoyed here in Detroit is the domestic partner medical and dental insurance available through my job at Wayne State University. The amendment prohibits not only marriage between same-sex couples, but also the recognition of any 'similar union for any purpose' -- hence, no civil unions nor domestic partnerships." (Christopher T. Leland via Detroit Free Press) ---------------------------------------------------------- Cindie Moore, Washington Counsel of NCTR, October 18, 2004, Update of Federal Report to Members (PDF) <URL:http://www.nctr.org/pdf/fedupd2004_26.pdf> http://www.nctr.org/pdf/fedupd2004_26.pdf 7 pages. Excerpt: "The most urgent issues for NCTR members at present are regulatory, not legislative. The report describes three regulatory items, two of which are action items and the third is an issue that will likely require action shortly. The report then provides information about the top legislative issues." (National Council on Teacher Retirement) ---------------------------------------------------------- Towers Perrin Legislative Tracking Chart -- Human Resources -- Updated October 21, 2004 (PDF) <URL:http://www.towers.com/towers/webcache/towers/United_States/publications/Periodicals/Leg_Tracking_Charts/2004_10_21/LTC_HR_2004_10_21.pdf> http://www.towers.com/towers/webcache/towers/United_States/publications/Periodicals/Leg_Tracking_Charts/2004_10_21/LTC_HR_2004_10_21.pdf 8 pages. Excerpt: "The chart summarizes selected federal legislation that would affect employee benefit programs." (Towers Perrin) ---------------------------------------------------------- Labor Department Doubles Workers' Retirement and Health Benefit's Recovery This Year <URL:http://www.nytimes.com/aponline/national/AP-Pensions-Investigations.html?oref=login> http://www.nytimes.com/aponline/national/AP-Pensions-Investigations.html?oref=login Excerpt: "The Labor Department recovered or protected $2.85 billion in workers' retirement and health benefits from illegal transactions or fraud in the past year, more than doubling its results from 2003. Settlements reached this year with Enron Corp. and WorldCom Inc., among the largest corporate scandals that lost millions of dollars in workers' retirement plans, aren't included in the figures released Thursday by the department's Employee Benefits Security Administration." (The New York Times; one-time registration required) ---------------------------------------------------------- Full Text of the Milliman Global Employee Benefits Newsletter for September 2004 (PDF) <URL:ihttp://www.milliman.com/eb/publications/milliman_global_employee_benefits/mg_eb_200409.pdf> ihttp://www.milliman.com/eb/publications/milliman_global_employee_benefits/mg_eb_200409.pdf 12 pages. The issue includes the following articles: A German Perspective on the Impact of IAS 19, The New Pension Protection Fund in the United Kingdom, and Recent Developments in Spanish Pensions. (Milliman) ---------------------------------------------------------- Full Text of the Milliman Global Employee Benefits Newsletter for September 2004 (PDF) <URL:http://www.milliman.com/eb/publications/milliman_global_employee_benefits/mg_eb_200409.pdf> http://www.milliman.com/eb/publications/milliman_global_employee_benefits/mg_eb_200409.pdf 12 pages. The issue includes the following articles: A German Perspective on the Impact of IAS 19, The New Pension Protection Fund in the United Kingdom, and Recent Developments In Spanish Pensions. (Milliman) ---------------------------------------------------------- Stock Plan Popularity Contest: Winners and Losers Under New Accounting Rules <URL:http://www.towers.com/towers/webcache/towers/TP_Monitor/jsp/showdoc.jsp?webc=TP_Monitor/2004/10/articles/mon_article_1004c.htm> http://www.towers.com/towers/webcache/towers/TP_Monitor/jsp/showdoc.jsp?webc=TP_Monitor/2004/10/articles/mon_article_1004c.htm Excerpt: "For decades, stock options have been the most common form of long-term incentive at large companies, thanks largely to favorable accounting treatment. Until recently, virtually all companies followed Accounting Principles Board Opinion No. 25 (APB 25), which favors some types of incentive plans over others. Traditional stock options and employee stock purchase plans (ESPPs), for instance, usually incur no expense under APB 25." (Towers Perrin) ========================================================== Newly Posted Press Releases PSCA Announces 2004 Signature Award Winners (Profit Sharing/401(k) Council of America (PSCA)) http://benefitslink.com/pr/detail.php?id=38424 Alliance Benefit Group Raising The Bar On Employee Competency (Alliance Benefit Group) http://benefitslink.com/pr/detail.php?id=38423 PBGC To Protect Pensions At Lumbermens Mutual Casualty Co. (Pension Benefit Guaranty Corporation (PBGC)) http://benefitslink.com/pr/detail.php?id=38422 U.S. Labor Secretary Elaine L. Chao Announces Stronger Retirement, Health Benefit Security for American Workers (U.S. Department of Labor, Office of Public Affairs, Washington, D.C.) http://benefitslink.com/pr/detail.php?id=38421 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings 401(k) Enroller/Contractor for Transamerica-The Winning Organization in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H39512 401(k) Enroller/Contractor - Bilingual for Transamerica in CA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H39516 Client Services Consultant-San Antonio for One America in TX http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40825 DB Ongoing Project Manager for Hewitt Associates in CT http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40833 Defined Contribution Plan Administrator for BFP Associates in MA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40834 Enrolled Actuary for Long Island Employee Benefits Group, Ltd. in NY http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40835 Sr. Education Account Executive- Retirement Services for Principal Financial Group in LA http://benefitslink.com/modperl/show_a_job.cgi?database_id=H40837 Post yours! http://benefitslink.com/jobs/post_help_wanted.html =========================================================== Subscribe to the BenefitsLink Retirement Plans Newsletter, Too Sign-up form is at: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter =========================================================== Copyright 2004 BenefitsLink.com, Inc.; except that you can forward this email in full (if you also include this boilerplate part) or otherwise reprint this email in full (if you include this boilerplate part) without obtaining our permission. 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