An online, clickable version of this newsletter is available at: http://benefitslink.com/2004/2004_12_22_welfare.html
=========================================================== BenefitsLink Welfare Plans Newsletter (Plain Text Format) December 22, 2004 =========================================================== We thank and invite your attention to today's sponsor: ALM =========================================================== Complete Benefits Law Guidance from Law Journal Press (Advert.) <URL:http://benefitslink.com/modperl/a_d.cgi?a_d=2004_12_22_welfare> http://benefitslink.com/modperl/a_d.cgi?a_d=2004_12_22_welfare (Click on above address, or copy and paste it into your web browser, to learn more.) The nation's workforce and health care system are constantly evolving and so are the legal issues. Law Journal Press helps you handle any benefits law question with up-to-date, authoritative books on all aspects of the field. Get legal and practical advice from leading experts on everything from COBRA to ERISA, "contingent" employees to family and medical leave, and more. Browse our product listings for detailed information and special offers. (Please visit our sponsors. We try to make sure their products and services will be of interest to you. Thanks! --Editor) ---------------------------------------------------------- Proceed Cautiously Before Covering Imported Pres.cription Drugs Under Your Health Plans <URL:http://www.faegre.com/articles/article_1485.aspx> http://www.faegre.com/articles/article_1485.aspx Excerpt: "With employees making health plan elections for next year, and with the deadline for most health flexible spending arrangement (FSA) reimbursements approaching, employers may be faced with requests to cover or reimburse the cost of imported pres.cription drugs under their health plans. Some employers may also be considering covering imported pres.cription drugs as a way to lower their health plan costs." (Faegre & Benson LLP) ---------------------------------------------------------- California DLSE Pulls Proposed Emergency Regulation Regarding Meal and Rest Periods <URL:http://www.littler.com/nwsltr/asap_12_CAWageHourAMENDED.htm> http://www.littler.com/nwsltr/asap_12_CAWageHourAMENDED.htm Excerpt: "On December 20, 2004, the Division of Labor Standards Enforcement (DLSE) pulled the Emergency Regulation that it proposed ten days earlier and replaced it with a new proposal (full text appears [on target page]) that it filed under the regular rule-making process of the Administrative Procedure Act (APA)." (Littler Mendelson, P.C.) ---------------------------------------------------------- Survey Says Workers Want More Paid Vacation in Spite of Larger Financial Issues <URL:http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20041221-000663-1406> http://www.smartmoney.com/bn/ON/index.cfm?story=ON-20041221-000663-1406 Excerpt: "Full-time employees know the importance of financial stability, health care, disability insurance and retirement savings. They just value paid vacation time more. That's the finding of a recent employee benefits study conducted by MetLife Inc. ..., to be released early next week. The study found that 63% of those surveyed are worried about making ends meet, while 59% are concerned about having the right amount of health insurance and 49% fret about outliving their retirement savings." (Dow Jones Newswires via SmartMoney.com) ---------------------------------------------------------- Status of HIPAA Regulations: Compliance Calendar -- Updated December 2004 <URL:http://www.hipaadvisory.com/../regs/compliancecal.htm> http://www.hipaadvisory.com/../regs/compliancecal.htm Excerpt: "Based on a presentation by HHS Staff at the February, 2002 Meeting of the NUCC/NUBC; amended & updated by Phoenix Health Systems. [Includes] Status of HHS HIPAA Administrative Simplification Regulations; HIPAA Administrative Simplification Provisions Pending External Input; Administrative Simplification Compliance Act Regulations; Enforcement; and, Fines for Non-Compliance." (Phoenix Health Systems via HIPAAdvisory.com) ---------------------------------------------------------- Newspapers Examine Recent State Efforts on Pres.cription Drug Reimportation <URL:http://www.kaisernetwork.org/daily_reports/rep_index.cfm?hint=3&DR_ID=27352> http://www.kaisernetwork.org/daily_reports/rep_index.cfm?hint=3&DR_ID=27352 Excerpt: "Three newspapers recently published articles about state efforts to reimport pres.cription drugs from abroad. Summaries [on efforts in Illinois, West Virginia, and Wisconsin are on target page] ...." (Kaiser Family Foundation) ---------------------------------------------------------- Consumer Reports' Consumer Rating Service Could Change Pres.cription Drug Practices <URL:http://www.benefitnews.com/health/detail.cfm?id=6875> http://www.benefitnews.com/health/detail.cfm?id=6875 Excerpt: "Consumer Reports' new drug-rating service, which compares product prices and effectiveness, could change how doctors, manufacturers, PBMs and pharmacies do business, observes Sean Brandle, head of the national Rx consulting group at The Segal Co." (BenefitNews Connect) ---------------------------------------------------------- Bush Administration Gives Mixed View on Drug Imports <URL:http://www.nytimes.com/2004/12/22/politics/22drugs.html?ex=1261371600&en=8cab0fe1c52ed382&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/12/22/politics/22drugs.html?ex=1261371600&en=8cab0fe1c52ed382&ei=5090&partner=rssuserland Excerpt: "The Bush administration said Tuesday that commercial importation of some low-cost pres.cription drugs from Can.ada might be feasible. But the savings to consumers would be small, it said, and the federal government would have to spend hundreds of million dollars a year to ensure the drugs' safety." (The New York Times; one-time registration required) ---------------------------------------------------------- Report on Designing Maine's DirigoChoice� Benefit Plan <URL:http://www.cmwf.org/publications/publications_show.htm?doc_id=253634> http://www.cmwf.org/publications/publications_show.htm?doc_id=253634 Excerpt: "A main feature of Maine's new Dirigo Health initiative is the DirigoChoice health plan, designed to provide an affordable, high-quality option for health coverage to Maine businesses that have 50 or fewer eligible employees, the self-employed, and individuals." (The Commonwealth Fund) ---------------------------------------------------------- Report from Focus Groups with Mainers About the Dirigo Health Plan <URL:http://www.cmwf.org/publications/publications_show.htm?doc_id=253637> http://www.cmwf.org/publications/publications_show.htm?doc_id=253637 Excerpt: "This study was initiated to gauge public views on Maine's new Dirigo Health initiative, whose goals are to make quality, affordable health care available to every Maine citizen and to initiate new processes for containing costs and improving health care quality." (The Commonwealth Fund) ---------------------------------------------------------- Opinion: Overcoming Three Failures of the U.S. Healthcare System Will Improve the Quality of Care <URL:http://www.modernhealthcare.com/article.cms?articleId=34648> http://www.modernhealthcare.com/article.cms?articleId=34648 Excerpt: "To achieve a more efficient healthcare system as well as improve quality of care, providers and health plans must compete on quality, not just price. Some brand-name competition over quality does exist among a handful of academic medical centers and prestigious organizations such as Mayo Clinic and Memorial Sloan-Kettering, but those are exceptions." (Warren Greenberg via Modernhealthcare.com) ---------------------------------------------------------- 2005 State Legislators' Guide to Health Insurance Solutions and Glossary (PDF) <URL:http://www.cahi.org/cahi_contents/resources/pdf/2005LegGuide.pdf> http://www.cahi.org/cahi_contents/resources/pdf/2005LegGuide.pdf 48 pages. Excerpt: "Here you will find many of the issues confronting the health insurance market and its consumers. We have summarized each issue, highlighted actions already taken by states, and offered possible solutions. We have also included a glossary that explains a number of industry terms. We invite you to use this Guide as a starting point for your deliberations and proposals." (The American Legislative Exchange Council and The Council for Affordable Health Insurance) ---------------------------------------------------------- Overview: Health Savings Accounts Distribution Timing: Special Transition Relief for 2004 <URL:http://www.complianceheadquarters.com/IRA/IRA_Articles/12_21_04b.html> http://www.complianceheadquarters.com/IRA/IRA_Articles/12_21_04b.html Excerpt: "The IRS recognized that many eligible individuals would be unable to establish HSAs early in 2004 because many financial organizations were not prepared to offer HSAs until late in the year. These individuals would not be able to meet the timing requirement for tax-free HSA distributions for some or all of their 2004 medical expenses.' (Bankers Systems Retirement Plan Services) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Overview: Amendment Deadline for Nonqualified Deferred Compensation Plans <URL:http://www.corbel.com/news/technicalupdates.asp?ID=290&T=P> http://www.corbel.com/news/technicalupdates.asp?ID=290&T=P Excerpt: "As part of the American Jobs Creation Act of 2004 (JOBS), Congress added Code �409A which provides new rules for nonqualified deferred compensation plans. Generally, the new rules apply to deferrals on or after January 1, 2005. Many practitioners were concerned that employers may need to amend their plans by January 1, 2005." (SunGard Corbel) ---------------------------------------------------------- Comments on and Quotes from WSJ Article on Stock Appreciation Rights and Notice 2005-1 <URL:http://www.benefitscounsel.com/archives/001312.html> http://www.benefitscounsel.com/archives/001312.html Excerpt: "Businesses won a victory Monday when the Treasury Department agreed to exempt public companies' stock appreciation rights from new restrictions on deferred executive compensation plans. The Treasury and Internal Revenue Service said stock appreciation rights will have 'limited exceptions' from new rules that tighten the tax treatment of deferred compensation programs." (Attorney B. Janell Grenier via BenefitsBlog.com) ---------------------------------------------------------- Overview: IRS Issues Guidance on Nonqualified Deferred Compensation in Notice 2005-1 (PDF) <URL:http://www.sablaw.com/files/tbl_s10News/FileUpload44/13642/deferredcompensation.pdf> http://www.sablaw.com/files/tbl_s10News/FileUpload44/13642/deferredcompensation.pdf 5 pages. Excerpt: "Perhaps the most important aspect of the Notice is its provision of various transition rules. Although the statutory effective date for compliance with new Code section 409A is generally January 1, 2005, Treasury and IRS acknowledge in the Notice that more guidance is needed to enable employers to comply fully with the new rules." (Sutherland Asbill & Brennan LLP) ========================================================== Newly Posted Events Guidance on the New Deferred Compensation Rules: What to do now that we have Notice 2005-1 in New York on January 13, 2005 presented by Worldwide Employee Benefits Network (WEB) <URL:http://benefitslink.com/events/detail.php?id=39044> http://benefitslink.com/events/detail.php?id=39044 Post yours! http://benefitslink.com/events/eventmaint.php ========================================================== Newly Posted Press Releases New Book Recommends Different Way of Thinking about Retirement (Watson Wyatt) http://benefitslink.com/pr/detail.php?id=38536 IRS Warns Businesses and Retirement Plans Against Abuses Involving ESOPs and S Corporations (Internal Revenue Service (IRS)) http://benefitslink.com/pr/detail.php?id=38537 Pension Reporter (5500) System from DATAIR � Year 2004 Forms Released (DATAIR Employee Benefit Systems, Inc.) http://benefitslink.com/pr/detail.php?id=38533 Fiduciary Alert � Another Year End: Global Fiduciary Advisors, LLC offers steps for retirement plan sponsors to take to ensure ERISA compliance and avoid unnecessary litigation at year end. (Global Fiduciary Advisors, LLC.) http://benefitslink.com/pr/detail.php?id=38527 Partnership to Assist Small Businesses Launched by Blue Cross and the Small Business Administration (Blue Cross of California) http://benefitslink.com/pr/detail.php?id=38534 Web-based COBRA Software Launches Free Trial Version (COBRApoint) http://benefitslink.com/pr/detail.php?id=38535 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings AVP of Retirement Programs for UnumProvident Corporation in ME http://benefitslink.com/modperl/job.cgi?id=H40884 Account Executive - Cleveland, OH for Transamerica in OH http://benefitslink.com/modperl/job.cgi?id=H41302 DB Quality Assurance Manager for Hewitt Associates in FL http://benefitslink.com/modperl/job.cgi?id=H41304 DB Benefits Service Manager for Hewitt Associates in FL http://benefitslink.com/modperl/job.cgi?id=H41305 HGB Benefits Service Manager for Hewitt Associates in FL http://benefitslink.com/modperl/job.cgi?id=H41306 401(k) Administrator for Redwood Administrators, Inc. in NJ http://benefitslink.com/modperl/job.cgi?id=H41307 DC Benefits Operations Manager for Hewitt Associates in FL http://benefitslink.com/modperl/job.cgi?id=H41308 HGB Benefits Operations Mngr for Hewitt Associates in FL http://benefitslink.com/modperl/job.cgi?id=H41309 Balance Forward Operations Manager for EMJAY Retirement Services, a Great-West Company in WI http://benefitslink.com/modperl/job.cgi?id=H41316 Retirement Services Regional Sales Directors for MassMutual Financial Group in ANY STATE http://benefitslink.com/modperl/job.cgi?id=H41318 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. Anyone can receive this newsletter; just use this web page: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter/ Your company can sponsor an issue; for details, please see: <URL:http://benefitslink.com/newslettersponsor.html> http://benefitslink.com/newslettersponsor.html We're proud of our Privacy Policy: <URL:http://benefitslink.com/privacypolicy.html> http://benefitslink.com/privacypolicy.html To view earlier issues: <URL:http://benefitslink.com/newsletters/> http://benefitslink.com/newsletters/ Published by: BenefitsLink.com, Inc. http://benefitslink.com/about.html 1298 Minnesota Avenue, Suite H Winter Park FL 32789 (407) 644-4146 Fax: (407) 644-2151 Editor and Publisher: David Rhett Baker, J.D. [EMAIL PROTECTED] =========================================================== If you'd like to STOP this newsletter, just click on this link (or copy and paste it into your web browser): <URL:http://benefitslink.com/cgi/subme/[EMAIL PROTECTED]&l=12%20&subscribe=unsubscribe> http://benefitslink.com/cgi/subme/[EMAIL PROTECTED]&l=12%20&subscribe=unsubscribe If that doesn't work for you, please use this web page: <URL:http://benefitslink.com/newsletter/> http://benefitslink.com/newsletter/ On that web page enter the following email address: [email protected] (That's the exact address under which you are subscribed.) ------------------------ Yahoo! Groups Sponsor --------------------~--> Make a clean sweep of pop-up ads. Yahoo! Companion Toolbar. Now with Pop-Up Blocker. Get it for free! http://us.click.yahoo.com/L5YrjA/eSIIAA/yQLSAA/BCfwlB/TM --------------------------------------------------------------------~-> <a href=http://English-12948197573.SpamPoison.com>Fight Spam! Click Here!</a> Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/kumpulan/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
