Benefits July 24, 2001

HR Professionals Oppose Senate PBOR – Poll

July 24, 2001 (PLANSPONSOR.com) - A majority of human resources (HR) professionals believe that the Senate version of the Patient's Bill of Rights will do more harm than good, according to a poll.
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Supporters of the bill believe that it will improve coverage, while those on the other side of the fence believe the legislation would do more to raise health-care costs than improve coverage.

The poll, conducted by BenefitsNext.com, BLR.com and HRnext.com, revealed that:

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  • almost 70% of HR people believe that the costs would outweigh whatever improvements it brought in coverage
  • only 16% believe that the health-care improvements would more than offset the costs,
  • while, 15% predict it would make no difference in cost or quality

The accompanying discussion in the Community section of HRnext took a similar tone, with the majority opposing the provision allowing patients to sue their HMOs in federal court if they are denied benefits, arguing that it would only benefit trial lawyers and lead to higher premiums for everyone else.

The poll was taken between July 2 and July 9, 2001 and comprised 323 votes.

Read more at PBOR Hearing Postponed, Advice Bill Hearing Scheduled .

Deals and People July 23, 2001

Byers Named CIO at Dreyfus

July 23, 2001 (PLANSPONSOR.com) - The Dreyfus Corporation has named Stephen R. Byers chief investment officer, responsible for overseeing all investment strategies and investment management staff.
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Byers joined Dreyfus, a subsidiary of Mellon Financial Corporation, in January last year as director of investments after a stint at Gruntal & Co as partner, executive vice president of capital markets and treasurer.

Between 1986 and 1997 he was employed by PaineWebber, most recently as managing director of Mitchell Hutchins Asset Management, where he was responsible for investment management and risk management activities.

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He worked for Citibank from 1978 to 1986 after beginning his career as a financial analyst with American Airlines in 1976.

Byers received a bachelor’s degree in economics and master’s degree in finance from Long Island University.

Stephen E. Canter, who previously held the position of chief investment officer at Dreyfus, was appointed chairman and chief executive officer in May.

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