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=========================================================== BenefitsLink Welfare Plans Newsletter (Plain Text Format) December 17, 2004 =========================================================== We thank and invite your attention to today's sponsor: The BenefitsLink Jobs Board =========================================================== Where the best benefits employers find the best candidates (Advert.) <URL:http://benefitslink.com/modperl/a_d.cgi?a_d=2004_12_17_welfare> http://benefitslink.com/modperl/a_d.cgi?a_d=2004_12_17_welfare (Click on above address, or copy and paste it into your web browser, to learn more.) Fill your employee benefits job openings fast by advertising on BenefitsLink. What better place to find qualified candidates? Your help wanted ad will be listed in the BenefitsLink Newsletter, will be seen by thousands of candidates who view our listings online, and will be emailed to over 3,200 job-seekers. Click to see how easy it is to place an ad! ---------------------------------------------------------- Text of Issue Brief on Mental Health Parity: Often Separate, Usually Unequal (PDF) <URL:http://www.actuary.org/pdf/health/parity_1204.pdf> http://www.actuary.org/pdf/health/parity_1204.pdf 8 pages. Excerpt: "[I]t is important to better understand current mental health parity requirements and how group plans typically address mental health coverage, as well as the cost implications of parity requirements. In this issue brief, we first describe current mental health parity requirements and how group insurance plans have responded to these requirements. We next discuss the cost implications of expanded mental health parity requirements, including the impact on other medical costs." (American Academy of Actuaries) ---------------------------------------------------------- Asset Adequacy Analysis Practice Note –- Updated December 2004 by the Life Valuation Subcommittee (PDF) <URL:http://www.actuary.org/pdf/practnotes/life_asset.pdf> http://www.actuary.org/pdf/practnotes/life_asset.pdf 78 pages. Excerpt: "This practice note was prepared by a work group organized by the Life Valuation Subcommittee of the American Academy of Actuaries. The work group was charged with updating the initial practice notes written in 1995 regarding asset adequacy analysis practices used by appointed actuaries in the United States. The practice note represents a description of practices believed by the work group to be commonly employed by actuaries in the United States in 2004." (American Academy of Actuaries) ---------------------------------------------------------- Employer Costs for Paid Leave -- Data from the National Compensation Survey <URL:http://www.bls.gov/opub/ted/2004/dec/wk2/art04.htm> http://www.bls.gov/opub/ted/2004/dec/wk2/art04.htm Excerpt: "Employer costs for employee compensation averaged $25.36 per hour worked in September 2004. Included in this amount are employer costs for paid leave benefits, which averaged $1.68." (U.S. Bureau of Labor Statistics) ---------------------------------------------------------- Groups Propose California Government Health Care Expansion, Individual Ownership Solutions <URL:http://www.californiahealthline.org/index.cfm?action=dspItem&itemID=108049&changedID=108021> http://www.californiahealthline.org/index.cfm?action=dspItem&itemID=108049&changedID=108021 Excerpt: "Californians for Healthy Kids -- a coalition of health care, religious, business and labor organizations -- on Tuesday announced that it is seeking legislative support for a bill that would extend government-sponsored health insurance to all children in the state, the Contra Costa Times reports (Silber, Contra Costa Times, 12/15)." (California Healthcare Foundation) ---------------------------------------------------------- The Fiscal Condition of the States Improved in 2004, but Health Costs Stall Full Recovery <URL:http://www.nytimes.com/2004/12/17/politics/17govs.html?ex=1260939600&en=f1895aaafa921b06&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/12/17/politics/17govs.html?ex=1260939600&en=f1895aaafa921b06&ei=5090&partner=rssuserland Excerpt: "The fiscal condition of the states improved this year, but soaring health costs have made it difficult for them to recover from the worst fiscal crisis in six decades, the National Governors Association said Thursday. States ended the 2004 fiscal year with balances totaling $25.3 billion, equal to 4.8 percent of state spending. That represents a significant increase from the previous year, when balances totaled $16.4 billion, or 3.2 percent of state spending." (The New York Times; one-time registration required) ---------------------------------------------------------- HHS to Publish HIPAA Rules, E-Prescribing Standards <URL:http://www.ihealthbeat.org/index.cfm?Action=dspItem&itemID=108033> http://www.ihealthbeat.org/index.cfm?Action=dspItem&itemID=108033 Excerpt: "HHS in the coming months plans to issue four HIPAA rules, according to its semiannual regulatory agenda, Health Data Management reports. HHS also plans to publish a proposed rule to adopt initial electronic prescribing standards." (California Healthcare Foundation) ---------------------------------------------------------- Healthcare Information Technology Is Growing Up -- Starting to Earn Its Keep <URL:http://www.healthleaders.com/news/feature61174.html> http://www.healthleaders.com/news/feature61174.html Excerpt: "Healthcare clinical information technology has been a kid for a long time. The parents-vendors, the government, providers and payors alike-have beamed proudly at the thought that this gangly kid would one day contribute to society. But so far the kid has just sort of skated along. .... In 2004, healthcare clinical information technology started to pay off on some of the enormous promise that advocates of paperless healthcare have been pushing for a long time." (HealthLeaders News) ---------------------------------------------------------- Companies Market Products Aimed at Obese As Employers and Insurance Companies Pay Costs <URL:http://www.usnews.com/usnews/issue/041220/biztech/20fat.htm> http://www.usnews.com/usnews/issue/041220/biztech/20fat.htm Excerpt: "Spending on obesity-related medical costs in the United States reached an estimated $75 billion in 2003, of which taxpayers paid about half through Medicare and Medicaid. Private employers are absorbing roughly $13 billion a year in costs due to obesity, including medical claims, absenteeism, and the expense of replacing workers who become disabled." (U.S.News & World Reports) ---------------------------------------------------------- Text of CBO Report: Medicaid's Reimbursement to Pharmacies for Pres.cription Drugs (PDF) <URL:http://www.cbo.gov/ftpdocs/60xx/doc6038/12-16-Medicaid.pdf> http://www.cbo.gov/ftpdocs/60xx/doc6038/12-16-Medicaid.pdf 24 pages. Excerpt: "Between fiscal years 1997 and 2002, Medicaid's expenditures on pres.cription drugs in the fee-for-service part of the program increased from $10.2 billion to $23.4 billion. About one-quarter of those amounts went to wholesalers and pharmacies to compensate them for distributing and dispensing the drugs." (U.S. Congressional Budget Office) ---------------------------------------------------------- New Consumer-Directed Health Plan Targets Part-Time and Hourly Employees <URL:http://www.benefitnews.com/health/detail.cfm?id=6864> http://www.benefitnews.com/health/detail.cfm?id=6864 Excerpt: "Phoenix-based Star HRG is offering Starbridge Choices, a consumer-directed health plan that is intended for part-time and hourly employees who do not qualify for medical coverage. The product offers illness coverage; wellness and maternity care; accidental injury coverage; pres.cription coverage; and an employee assistance program." (The Adviser) ---------------------------------------------------------- Opinion: Top 10 Health Policy Stories of 2004 <URL:http://www.cmwf.org/aboutus/aboutus_show.htm?doc_id=252816> http://www.cmwf.org/aboutus/aboutus_show.htm?doc_id=252816 Excerpt: "Last year ... we couldn't find a list of the Top 10 stories or developments in health policy. So we created our own. We're pleased to do that again this year, offering our take on the most important or interesting developments in the world that the Fund follows and does its best to change for the better." (The Commonwealth Fund) ---------------------------------------------------------- Bush Signs Up for Health Savings Account for His Family's Current and Future Healthcare Needs <URL:http://www.latimes.com/news/printedition/asection/la-na-health17dec17,1,3555350.story?coll=la-news-a_section> http://www.latimes.com/news/printedition/asection/la-na-health17dec17,1,3555350.story?coll=la-news-a_section Excerpt: "President Bush may enjoy the best healthcare in America, and for free, too. But that didn't stop him this week from setting up a tax-deferred health savings account. .... 'And I'm pleased to report that ... health savings accounts are beginning to work their way through our markets. After all, I just signed up for one two days ago,' Bush said. 'When it makes it to my level, you know it's going to be widespread these days. ....' " (Los Angeles Times; one-time registration required) ---------------------------------------------------------- Medicare Modernization Act Web Site Features Highlights and Programs of the Act <URL:http://www.cms.hhs.gov/medicarereform/> http://www.cms.hhs.gov/medicarereform/ Excerpt: "[T]he Medicare Pres.cription Drug, Improvement and Modernization Act (MMA) of 2003 ... provides seniors and people living with disabilities with a pres.cription drug benefit, more choices and better benefits under Medicare, the most significant improvement to senior health care in nearly 40 years. This page will be frequently updated with information over the next several months as CMS begins implementation of these benefits and reforms." (Centers for Medicare & Medicaid Services) ========================================================== Links To Items on Executive Comp, Benefits In General ---------------------------------------------------------- Regulators Adopt Tighter Rules on Accounting for Stock Options at Public Companies <URL:http://www.nytimes.com/2004/12/17/technology/17fasb.html?ex=1261026000&en=d588572c103f5e23&ei=5090&partner=rssuserland> http://www.nytimes.com/2004/12/17/technology/17fasb.html?ex=1261026000&en=d588572c103f5e23&ei=5090&partner=rssuserland Excerpt: "Accounting regulators adopted rules yesterday requiring publicly traded companies to treat the stock options they give to employees as normal business expenses. The rule change is scheduled to take effect July 1, 2005, though a coalition led by technology companies, which often use stock-based compensation plans, has vowed to continue fighting it." (The New York Times; one-time registration required) ---------------------------------------------------------- Financial Accounting Standards Board Tells Public Companies to Start Expensing Options <URL:http://www.nytimes.com/aponline/business/AP-Accounting-Rules.html> http://www.nytimes.com/aponline/business/AP-Accounting-Rules.html Excerpt: "The Financial Accounting Standards Board's decision Thursday calls for public companies to start expensing options beginning with their first fiscal reporting period after June 15, 2005. Private companies and companies that file as small business issuers are not required to comply until after Dec. 15, 2005." (AP via The New York Times; one-time registration required) ---------------------------------------------------------- Text of Revised Statement of Financial Accounting Standards No. 123: Share-Based Payment (PDF) <URL:http://benefitslink.com/articles/fas123r.pdf> http://benefitslink.com/articles/fas123r.pdf Excerpt: "Over the last few years, approximately 750 public companies have voluntarily adopted or announced their intention to adopt Statement 123's fair-value-based method of accounting for share-based payment transactions with employees. Other companies continue to use Opinion 25's intrinsic value method.... By requiring the fair-value-based method for all public entities, this Statement eliminates an alternative accounting method ..." (Financial Accounting Standards Board) ---------------------------------------------------------- Most Large Employers Use Consultants for Benefit Plan Design, Actuarial Work and Vendor Selection <URL:http://www.benefitnews.com/finance/detail.cfm?id=6866> http://www.benefitnews.com/finance/detail.cfm?id=6866 Excerpt: "Eighty percent of the 408 respondents say they use consultants, most often for their health plans, although 55% employ them for their disability plans as well. Surprisingly, fewer than half call in consulting companies for help with retirement plans, both defined benefit and defined contribution, while 30% use consulting services for flexible benefit plans and 22% for wellness programs." (The Adviser) ---------------------------------------------------------- Text of Milliman's Fall 2004 Benefits Perspectives: Current Issues in Employee Benefits (PDF) <URL:http://www.milliman.com/eb/publications/benefits_perspectives/fall04_fin.pdf> http://www.milliman.com/eb/publications/benefits_perspectives/fall04_fin.pdf 8 pages. This issue includes articles titled: Patient Safety First, The Retirement Equity Act: Still Crazy After All These Years, and True Group Long-Term Care Coverage: The Final Piece in a Comprehensive Safety Net. (Milliman) ---------------------------------------------------------- Continental Airlines Moves to Cut Wages and Benefits for U.S. Managerial and Clerical Workers <URL:http://www.plansponsor.com/pi_type10/?RECORD_ID=27838> http://www.plansponsor.com/pi_type10/?RECORD_ID=27838 Excerpt: "In a move meant to cut costs after four consecutives years of losses, Continental Airlines has decided to implement changes to US-based management and clerical workers' wages work rules and benefits. Nearly 5,200 American-based workers will see the company suspend its 401(k) matching contributions and launch an 'enhanced' profit-sharing plan to replace an older, terminated plan, ATWonline.com is reporting." (PLANSPONSOR.com; one-time registration required) ========================================================== Newly Posted Press Releases Mental Health Parity Act Extended to December 31, 2005 (U.S. Department of Labor, Office of Public Affairs, Washington, D.C.) http://benefitslink.com/pr/detail.php?id=38522 Treasury, IRS Issue Section 409(p) Regulations (U.S. Department of Treasury) http://benefitslink.com/pr/detail.php?id=38521 Post yours! http://benefitslink.com/pr/maint.php ========================================================== Newly Posted or Renewed Job Openings Client Solutions Group Associate for ICMA Retirement Corporation in DC http://benefitslink.com/modperl/job.cgi?id=H41282 Plan Analyst/Conversion Specialist for Branch Banking & Trust Company (BB&T) in NC, SC http://benefitslink.com/modperl/job.cgi?id=H41284 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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