In a bold move to address the healthcare affordability crisis, Blue Shield of California Chairman & CEO Bruce Bodaken announced a pledge today that Blue Shield will limit its annual net income to no more than 2 percent of revenue. This commitment will apply retroactively to income earned in 2010, when Blue Shield’s net income exceeded the 2 percent target by $180 million. That amount will go back to Blue Shield’s customers and the community.
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The pace of economic growth has slowed significantly since the start of 2011 and the slowdown is expected to continue into the start of 2012, according to a survey of CEOs of small-to-medium-sized businesses. The Vistage CEO Confidence Index was 92.9 in the Q2 2011 survey, substantially below the 105.2 posted in Q1, and erasing all the gains recorded since 93.7 was registered in Q1 2010. Though declines were present in every major survey component, the largest losses were in evaluations of the overall economy. Rather than expecting a renewed economic downturn, the majority of CEOs anticipated a stagnating economy: growth too slow to support robust gains in employment or investment, and resulting in lower revenue and profit levels than previously forecast. Half of all firms put planned investments on hold due to the slowdown in economic growth.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/vistage/51040/
Telcordia, a global leader in the development of Mobile, Broadband and Enterprise communications software and services, announced today that it has been honored as the winner of the Aegis Graham Bell 2011 Award in the “Innovation in Telecom OSS/BSS” category for the company”s Telcordia® Converged Revenue Management solution. For the second consecutive year, Telcordia received this award for its work with the region's CSPs, enabling them to accelerate new customer and revenue growth in a highly competitive market.
To view Multimedia News Release, go to http://www.multivu.com/mnr/51269-telcordia-aegis-graham-bell-award-innovation-telecom-india/
U.S. insurance companies continue to face an uncertain future. Evolving regulatory requirements and a still-shaky economy coupled with more demanding consumers, combine to present a new set of challenges to insurers today. While weaker companies continue to shake out, remaining contenders must realize that survival and success will depend largely on their willingness to innovate.
Frost & Sullivan recently published a whitepaper, Using Mobile Solutions to Improve Insurance Sector Performance, which examines how mobile technology can help control cost, manage risk and create new revenue.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/frostsullivan/53280/
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Based on its recent analysis of the retail carrier Ethernet services market, Frost & Sullivan recognizes tw telecom with the 2011 North American Frost & Sullivan Award for Growth Leadership. Each year, this award is presented to the company that demonstrates excellence in capturing the highest compound annual growth rate (CAGR) for the last three years. tw telecom’s Ethernet services revenue grew at a CAGR of 28 percent from 2008 to 2010, which is commendable considering the relatively weak economic situation during that period.
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Frost & Sullivan recently published a white paper, Virtualization for Midsize Businesses: Keep Your Foot on the Accelerator, which identifies the benefits midsize businesses gain through holistic adoption of virtualization technologies.
To overcome the many recurring challenges pertaining to data centers, there are streams of benefits virtualization across servers, storage, networks, and desktops can deliver, especially for midsize businesses with heightened strategic priorities in innovation and revenue growth. This shift to virtualization increases capacity and improves effectiveness with greater speed, flexibility and reliability than possible in non-virtualized environments.
To view Multimedia News Release, go to http://www.multivu.com/mnr/56117-frost-sullivan-white-paper-virtualization-midsize-business-efficiency-ibm
Emdeon Inc., a leading provider of healthcare revenue and payment cycle management and clinical information exchange solutions, today announced the expansion of Emdeon Clinical Exchange™, its technology-enabled solution designed to improve business and clinical outcomes and care continuity.
Emdeon Clinical Exchange encompasses products and services that are designed to unite healthcare communities. Today, hospitals, physicians, labs, payers and pharmacies use Emdeon’s leading healthcare information network to securely exchange health information over six billion times annually. These healthcare stakeholders are demanding greater connectivity to each other and the ability to facilitate comprehensive, end-to-end clinical information exchange.
To view Multimedia News Release, go to http://www.multivu.com/mnr/48120-emdeon-expands-clinical-information-exchange-capabilities
Shell and the City of Dawson Creek today celebrate the opening of the Dawson Creek Reclaimed Water Project. The facility, process and associated infrastructure, will virtually eliminate Shell’s need to draw on local fresh water sources for the operation of its Groundbirch natural gas venture in Northeast British Columbia. The multi-million dollar facility will provide a new source of revenue for the City of Dawson Creek as well as additional water for industrial and municipal uses.
The City of Dawson Creek, some 1,191 kilometres northeast of Vancouver, is the centre of British Columbia’s natural gas and oil producing fields. The new treatment facility will help meet the water needs of all users including the people and municipality of the City of Dawson Creek.
To view Multimedia News Release, go to http://multivu.prnewswire.com/mnr/prne/shell-and-dawson-creek-partnership/56594/
Emdeon Inc., a leading provider of revenue and payment cycle management and clinical information exchange solutions, today announced the launch of Emdeon EDGE™, an integrated, technology-enabled solution that includes complete payment integrity and cost containment services designed to help detect improper healthcare claims and prevent inaccurate payments.
To view Multimedia News Release, go to http://www.multivu.com/mnr/48121-emdeon-edge-payment-integrity-cost-management
QROPS - Qualifying Recognised Overseas Pension Schemes were introduced in 2006 as part of a major overhaul of Britain\'s pension framework, aimed at simplifying pension transfers to another country. New legislation was passed by the UK tax authority, HM Revenue and Customs (HMRC), in order to comply with an EU directive that pensions be free to move across Europe\'s borders. This ruling means that individuals, wishing to retire to countries such as France, Spain and Portugal can effectively take their UK pension funds with them: http://www.axis-finance.com/what-are-qrops.php
Who can apply for a QROPS?
A QROPS is specifically designed to allow anyone, not intending to retire in the UK, to transfer existing and frozen UK pension plans into a more appropriate retirement vehicle.
Individuals who are, or have been members of a UK registered pension fund and are currently living outside of the UK, or intending to leave the UK on a permanent basis, can consider transferring their retirement fund into a QROPS: http://www.axis-finance.com/qrops-living-in-France
Transfers to QROPS
The UK Government allows transfers to QROPS to be made free of UK tax. Their aim is to simplify the affairs of individuals leaving the UK on a permanent basis and to encourage them to continue saving in order to provide an income when they retire. There is no official limit to the amount of funds that may be transferred to a QROPS: http://www.axis-finance.com/qrops-France-pension-transfers
QROPS - HMRC Rules
What makes a scheme a QROPS?
In order to transfer your UK pension into a QROPS, it is necessary for the overseas pension scheme to be accepted by HMRC. The criteria outlined by HMRC for an overseas scheme to qualify as a QROPS include:
- The pension scheme must be established outside of the UK
- It must be recognised for tax purposes in the country where it is located
- It must be regulated in the country in which it is established
Age that benefits can be taken from a QROPS
The QROPS regime mirrors that of a regulated pension scheme in the UK. Benefits, including lump sum payments, from the transferred funds may not be distributed earlier than the normal retirement age of 55, if an individual has been a non-UK resident for less than five complete tax years: http://www.axis-finance.com/qrops-living-in-France-HMRC-Rules
QROPS Reporting requirements
HMRC should be notified if a payment is made within the first five tax years of a member becoming non-UK tax resident. Any benefits paid before five complete tax years of non-UK residency and not in accordance with UK Pension rules will be deemed an unauthorised payment.
The scheme manager does not have to notify HMRC if the payment is made 10 or more years after the day of the transfer that created the QROPS fund for the \'relevant member\', provided that the person is non UK resident for the duration of this period. This 10 year \'bracket\' for reporting payments took effect as of 6 April 2012.
QROPS List
When transferring your UK pension to a scheme overseas, it is important to check that the scheme meets the conditions to be a qualifying recognised overseas pension scheme (QROPS). Not all transfers to overseas or offshore schemes are QROPS transfers; it is therefore essential to verify that the scheme receiving your UK benefits is on the QROPS list published by HMRC, otherwise a transfer will be treated as a transfer to a non-qualifying overseas scheme and substantial penalties may be applied by HMRC at the time of transfer: http://www.axis-finance.com/qrops-list-living-in-France
How do I know if it is a legitimate QROPS scheme?
QROPS approved plans that agree to have their details published are listed on the HMRC website. A UK Pension administrator will confirm a QROPS listing before agreeing to a transfer. If not listed, the administrator will contact HMRC
