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=========================================================== BenefitsLink Welfare Plans Newsletter (Plain Text Format) December 13, 2004 =========================================================== We thank and invite your attention to today's sponsor: The National Underwriter Company =========================================================== National Underwriter publications in the BenefitsLink Bookstore! (Advert.) <URL:http://benefitslink.com/modperl/a_d.cgi?a_d=2004_12_13_welfare> http://benefitslink.com/modperl/a_d.cgi?a_d=2004_12_13_welfare (Click on above address, or copy and paste it into your web browser, to learn more.) The National Underwriter Company is regarded as one of the premiere publishers of professional references. A leader in publications and online services in the areas of Financial Planning, Employee Benefits & Retirement Planning as well as Life & Health and Risk Management since 1897. Click above to see the list of informative publications. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Text of Proposed GASB Statement on Accounting for Termination Benefits (PDF) <URL:http://www.gasb.org/exp/ed_termination_benefits.pdf> http://www.gasb.org/exp/ed_termination_benefits.pdf 25 pages. Excerpt: "Under this proposal, an employer that offers a termination benefit in the form of healthcare benefits provided to a group that also includes active employees would be required to separate the cost of healthcare for terminated employees from the cost for active employees in the group. The proposal would require such benefits to be measured based on projected total claims costs (or age-adjusted premiums approximating claims costs) for terminated employees." (Governmental Accounting Standards Board) ---------------------------------------------------------- MEWA Sponsor and Individual Corporate Officers Liable for Breach of Fiduciary Duty <URL:http://www.ebia.com/static/weekly/articles/2004/ERISA041209Chao.html?partnerId=BNL123693> http://www.ebia.com/static/weekly/articles/2004/ERISA041209Chao.html?partnerId=BNL123693 Excerpt: "The DOL filed this suit alleging breach of fiduciary duty by (among others) two individuals who established a company to sponsor a self-funded multiple employer welfare arrangement ... The plan sponsor collected almost $26 million in premiums but had only about $200,000 in the bank and between $5 million and $17.5 million in unpaid claims when the DOL sued." (Employee Benefits Institute of America Inc. (EBIA)) ---------------------------------------------------------- COBRA Coverage Began Retroactively Despite Late Election Notice; Statutory Penalties Awarded <URL:http://www.ebia.com/static/weekly/articles/2004/COBRA041209Chaganti.html?partnerId=BNL123693> http://www.ebia.com/static/weekly/articles/2004/COBRA041209Chaganti.html?partnerId=BNL123693 Excerpt: "[A]lthough this court found in favor of the employer on the retroactive premium issue, we continue to recommend caution in determining the amount and timing of the initial premium payment when a late COBRA election notice is provided." (Employee Benefits Institute of America Inc. (EBIA)) ---------------------------------------------------------- Text of HHS Semiannual Regulatory Agenda (PDF) <URL:http://a257.g.akamaitech.net/7/257/2422/13dec20040800/edocket.access.gpo.gov/ua041213/pdf/ua041008.pdf> http://a257.g.akamaitech.net/7/257/2422/13dec20040800/edocket.access.gpo.gov/ua041213/pdf/ua041008.pdf 66 pages. (Department of Health & Human Services) ---------------------------------------------------------- Employer Failed to Provide Full and Fair Review of Claims Administrator's Denial <URL:http://www.ebia.com/static/weekly/articles/2004/ERISA041209Krodel.html?partnerId=BNL123693> http://www.ebia.com/static/weekly/articles/2004/ERISA041209Krodel.html?partnerId=BNL123693 Excerpt: "[T]he employer improperly deferred to the claims administrator's initial claim determination because, in gathering information for the appeal, the employer asked the claims administrator to send 'only . . . pertinent back-up information that supports [the claims administrator's] decision.' In addition, the employer decided that the claim was for an item that was not medically necessary, but sought no medical advice in making the determination ..." (Employee Benefits Institute of America Inc. (EBIA)) ---------------------------------------------------------- Programs to Test Chronic Care Strategies <URL:http://www.eweek.com/article2/0,1759,1739060,00.asp> http://www.eweek.com/article2/0,1759,1739060,00.asp Excerpt: "CMS (Centers for Medicaid and Medicare) [last] week announced its picks for companies to participate in 10 experimental programs to manage care of patients with chronic conditions. The hope is that keeping these patients healthier will improve their lives -- and save the government money." (eWeek) ---------------------------------------------------------- Opinion: Why Can't We Buy Health Insurance Online? <URL:http://www.worksite.net/121004.htm#13> http://www.worksite.net/121004.htm#13 Excerpt: "Congressman John Shaddegg (R-AZ) has a bill that would allow us to purchase health insurance online; it's called the Health Care Choice Act. Consumers would be able to use the Internet or physically go to another state and buy a health insurance policy. The policy they buy would contain the benefits from the state where the consumer purchased the policy. The bill has picked up momentum ... " (Karen Kerrigan via Insurance Newscast) ---------------------------------------------------------- Opinion: Consumers Are Paying the Hidden Price for Health Care <URL:http://www.nytimes.com/2004/12/12/business/yourmoney/12cont.html> http://www.nytimes.com/2004/12/12/business/yourmoney/12cont.html Excerpt: "[I]t's time for business to mobilize its army of lobbyists for a national system of coverage that is comprehensive and competitive, and contains strong incentives not to spend. Like car insurance, it has to be mandatory ..." (New York Times; one-time registration required) ---------------------------------------------------------- Make Sure Employees Take Time Off, Doctor Advises <URL:http://www.workforce.com/archive/feature/23/89/82/238985.php> http://www.workforce.com/archive/feature/23/89/82/238985.php Excerpt: "Taking a vacation: You wouldn't think it would be such a difficult task. Mel Borins frets that it has become one. The medical doctor, public speaker and author of the books 'Go Away Just for the Health of It' and 'An Apple a Day: A Holistic Health Primer' discusses this odd problem ..." (Workforce.com; one-time registration required) ---------------------------------------------------------- Link to New Online Human Life Calculator <URL:http://www.metlife.com/Applications/Corporate/WPS/CDA/PageGenerator/0,1674,P6016,00.html> http://www.metlife.com/Applications/Corporate/WPS/CDA/PageGenerator/0,1674,P6016,00.html Excerpt: "How much insurance do you need? Will your current insurance be enough? Use this simple calculator to find out." (MetLife) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Year-End Reminders for Benefit Plan Sponsors (PDF) <URL:http://www.kutakrock.com/publications/employeebenefits/fall04_eb_news_wcola.pdf> http://www.kutakrock.com/publications/employeebenefits/fall04_eb_news_wcola.pdf At pp. 10-11 of 14-page document. (Kutak Rock LLP) ---------------------------------------------------------- Elaine Chao to Remain as DOL Secretary for Second Bush Term <URL:http://www.hrpolicy.org/news/news_detail.asp?ID=1905> http://www.hrpolicy.org/news/news_detail.asp?ID=1905 Excerpt: "[I]t was announced that Labor Secretary Elaine Chao will remain in her post during President Bush's second term." (HR Policy Association) ========================================================== Newly Posted Press Releases Employees, CEOs Saw Stock Option Values Decline Sharply Between 2001 and 2003, Watson Wyatt Study Finds (Watson Wyatt) http://benefitslink.com/pr/detail.php?id=38510 Milliman Experts Address Benefits of `True Group Long-Term Care' in New White Paper for Insurers (Milliman USA) http://benefitslink.com/pr/detail.php?id=38509 National Business Coalition On Health And Local Coalitions Launch Bridges To Excellence Initiative (National Business Coalition on Health) http://benefitslink.com/pr/detail.php?id=38508 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Vice President - Relationship Management for BISYS Retirement Services in PA http://benefitslink.com/modperl/show_a_job.cgi?id=H40350 Division Head Client Services for TPA company based in PA in PA http://benefitslink.com/modperl/show_a_job.cgi?id=H41209 DC Benefits Operations Manager for Hewitt Associates in CA http://benefitslink.com/modperl/show_a_job.cgi?id=H41210 Human Resources - HR Benefits Representative for Central Virginia Electric Cooperative in VA http://benefitslink.com/modperl/show_a_job.cgi?id=H41211 Client Services / Account Manager for ExpertPlan, Inc. in NJ http://benefitslink.com/modperl/show_a_job.cgi?id=H41212 Part Time Actuary for Howard Simon & Associates, Inc. in IL http://benefitslink.com/modperl/show_a_job.cgi?id=H41216 Pension Consultant / Administrator for White Plains NY Mid-Sized Pension Consulting Firm in NY http://benefitslink.com/modperl/show_a_job.cgi?id=H41217 Premier Wealth Plan Implementation Mgr. for Merrill Lynch in NJ http://benefitslink.com/modperl/show_a_job.cgi?id=H41218 Consulting Actuary for RSM McGladrey, Inc. in IL http://benefitslink.com/modperl/show_a_job.cgi?id=H41219 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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