Sen. Edwards Lashes Out at Frist-Breaux Draft

March 14, 2001 (PLANSPONSOR.com) - Senator John Edwards (D-NC) has lashed out at a new patient's bill of rights from Senators Frist (R-TN) and Breaux (D-LA), still in the draft stages.

Edwards called the bill an “HMO Bill of Rights”, according to CongressDaily/A.M., and said the terms of the draft “appear to have multiple problems”, including:

  • A provision that would allow states to opt out of having to adopt the federal patient protection standards if a governor could show that it would raise health care costs in the state by 2% or more
  • A requirement that most new cases be tried in federal court, which Edwards said don’t have the resources to handle the cases

The Frist-Breaux bill would also let a state opt out if it could establish that:

Get more!  Sign up for PLANSPONSOR newsletters.

  • It has a state protection that is essentially the same or
  • It has low HMO enrollment

In its current form, the Frist-Breaux bill ( Employers Might Find Patient Protection in Frist Bill ) would:

  • Allow employers to designate a third party that will have “clear and exclusive” authority to make determinations that give rise to a cause of action
  • Require patients to exhaust administrative appeals before going to court
  • Bar punitive damages
  • Limit non-economic damages to $500,000.

– Nevin Adams       editors@plansponsor.com

Barclays Unveils Prime Brokerage SecLending Platform

February 14, 2001 (PLANSPONSOR.com) - Barclays Capital has rolled out STRAX, an Internet based securities lending system that links lenders and borrowers of equity securities to its custodian, beneficial owner and hedge fund clients.

It is reportedly the only service available today that allows lenders or hedge funds to submit live bids/offers and get instant fills.  However, STRAX is only available to the custodial lenders or hedge fund clients of Barclays Capital’s Prime Brokerage unit.

The STRAX rollout is the latest expansion of Barclays Capital capabilities, including:

Never miss a story — sign up for PLANSPONSOR newsletters to keep up on the latest retirement plan benefits news.

  • Expanding Barclays Capital’s equity prime brokerage service to include fixed income products
  • the completion of Barclays Capital’s electronic equity trading platform for Japan
  • Introduction of convertible asset swaps.


 

«