April 19, 2001 (PLANSPONSOR.com) - Today saw the
launch of the FTSE/Xinhua China 25 Index, a capped, tradable
index featuring the largest, most liquid Chinese
equities.
The index, a joint venture between FTSE and Xinhua
Financial Network, was designed both as a performance
measure and as a basis for the creation of index-linked
funds, derivatives and exchange traded funds for foreign
investors looking for exposure to China?s market.
As China?s relevance to the global market increases in
the advent of WTO, so too has the demand for indices that
adopt global standards.
April 18, 2001 (PLANSPONSOR.com) - Plan sponsors
across the country could get a peek ahead at next year's
healthcare costs, through the eyes of the nation's largest
public pension system.
The California Public Employees Retirement System
(CalPERS) votes today on a recommendation calling for a 6%
increase in premiums and a change in co-payments for office
visits and prescriptions.
The Health Benefits Committee has recommended
a health premium package to the Board of Administration
which includes:
a line up of eight health maintenance organizations
(HMOs)
a 6% premium increase
a future enrollment freeze for Health Net, one of the
system’s largest carriers
an increase to $10/office visit copay from
$5/visit
changes in prescription drug copays
If adopted by the Board of Administration tomorrow, the
package would cost $1.758 billion, compared to $1.65
billion for the 2001 rates.
Tiered Structure
The prescription drug plan was modified to encourage the
use of generic drugs and mail order purchasing. It also
aligned the HMO benefit with the CalPERS preferred provider
organizations, which switched to the three-tiered benefit
earlier this year.
Under the proposed three-tier prescription drug plan,
members purchasing a 30-day supply from retail pharmacies
would pay:
$5 for generics
$10 for brand name drugs
$15 for nonformulary drugs
Those who purchase 90-day prescriptions by mail would
pay
$10 for generics
$15 for brand name drugs
$30 for nonformulary drugs
Currently, members pay a $5 copay on all
prescriptions.