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A measure allowing small employers to band together to obtain affordable group health care coverage was approved by the House of Representatives on July 26, and has moved to the Senate for consideration. The proposed legislation would create association health plans (AHPs), permitting small businesses to pool their purchasing power and buy health coverage across state lines. Long-Term Care Issues Neglected In Retirement Planning Most Americans are aware of the need to save money for retirement, but relatively few make adequate provisions to cover potential health care and nursing home costs, according to a study by Prudential Financial. DOL Reports Slowdown In Benefit Cost Increases The rising cost of employer-provided benefits slowed between June 2004 and June 2005, while growth in wages and salaries remained relatively stable over the same period, according to statistics published in the U.S. Department of Labor's "Employment Cost Index." New Roth 401(k) Option To Launch In 2006 The Roth 401(k), a new type of qualified retirement plan that will become available starting in 2006, may prove to be an attractive benefit option for companies employing highly compensated individuals not eligible to contribute to a Roth IRA, or younger workers who expect to be in a higher tax bracket when they retire. |
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