Abstract
This essay briefly describes what a Voluntary Employees' Beneficiary Association (VEBA) is. The author discusses the perceived advantages and disadvantages associated with such a system, and the possible impact of modern VEBA's both for American healthcare consumers and providers.

From the Paper
"In plain English, a VEBA is a pre-funded tax free pre and post retirement medical expense account used by employees and their dependents for future health and welfare costs. This is in direct contrast to the more common and traditional method of 'Pay-as-you go' healthcare funding that current exists for the majority of businesses in the USA. A VEBA has been considered by many as nothing more than a way for an employer to contribute tax-free to a fund that can be used to purchase health and welfare benefits for its employees, the equivalent of "a lockbox filled with cash that can only be withdrawn to pay for health care costs or other welfare benefits like life and disability insurance." However, this simple analogy hides many of the intricacies and issues currently surrounding VEBAs and their renewed popularity.
"Given VEBAs general lack of recognition and limited up take, it will come as a surprise to note that they have been available in the USA since 1928. Initially, Union organizations were prominent in establishing the majority of VEBAs to provide benefit plans for their members. However, various business owners, large corporations and small companies have all introduced VEBAs to take advantage of the tax exemptions. Instead of VEBAs primarily offering a method of funding healthcare for employees, it has regularly been used as a tax-efficient financial planning tool by wealthy individuals as a method to protect their assets. In order to address many of the abuses that occurred, the Federal government introduced extensive restrictions and limitations in both 1984 and 1986."

Tags:VEBA healthcare USA, health coverage, stand-alone VEBA

Abstract
The paper reveals that the Medicare Part D program is confusing and complex, which may make it of little use to the people it is intended to serve, unless they receive personal guidance during the process. The paper further relates that unfortunately for those people, the system is underserved, reducing the frequency of one-on-one communication opportunities. The paper argues that Medicare Part D could be a valuable program to its target population, however, the program needs some refining before it is truly beneficial to all Americans who are in need of using it.

From the Paper
"Medicare Part D is a federal program that originated with the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. It was intended to assist Medicare recipients with the prescription drug costs that they incur. Participation in the program is voluntary; that is, the Medicare beneficiary must actively enroll in the plan. People who are eligible for both Medicare and Medicaid are excepted from this rule. Instead, they are automatically enrolled in one of the prescription drug..."

Tags:medicare, prescription, drugs

From the Paper
"This research examines the Earned Income Tax Credit (EITC). The overall objective of this examination is to assess the advantages and disadvantages of the EITC as a way of reducing income inequality within the United States. In this research, this overall objective is addressed through focusing on the effects of the EITC on (1) the levels of disposable money income of beneficiary families and (2) the incentives of beneficiary families to work.

EITC: Description and Objectives
The EITC was enacted in 1975 to "offset the impact of Social Security and Medicare taxes on low-income individuals and to encourage them to work instead of relying on welfare benefits"

From the Paper
"Introduction
Trusts are one way in which assets can be sheltered from estate taxes and in which the probate process (associated with wills) can also be avoided. In recent years, Americans have begun to use trusts and trust funds in increasing numbers, and many Americans now have Living Trusts which make it possible to pass on assets and proceeds from assets to heirs without paying estate taxes or having the estate go through a lengthy and sometimes costly probate. The use of trusts does not eliminate taxes altogether, however, and it is important to understand how the taxable income of a trust (the distributable net income) affects the trust and beneficiaries. This research examines the use of trusts and some of the issues surrounding distributable net income."

Abstract
The paper looks at how the Internal Revenue Code has defined charitable organizations and the trusts that are eligible to receive donations with tax exceptions. The paper looks at large scale sham cases that used the provisions of charity to evade tax and the resulting legislation that has removed the special status of charitable organizations and has brought them under their scrutiny. The paper looks at when a donor gets benefits of tax deductions and when a taxpayer will not be able to avail the provisions of the charity provisions where there has been an 'ear marked' donation.

Outline:
Introduction
Definition & Classification of Charity
Analysis of Taxation and its Incidence on Beneficiaries for Charities
Legislation
Benefits and Deductions
Negation of Tax Benefits, and Incidence of Tax
Beneficiaries
Sham Beneficiaries
Conclusion

From the Paper
"The definition of a trust is said to be: A separate taxable entity "for federal income tax purposes." The trusts are legally of many types, but generally are created out of the will or arrangement by a donor or creator of the trust and an appointed trustee takes the charge and responsible of the trust and all assets and property of the trust which is a new legal entity. The beneficiary or beneficiaries are the person or persons who derive benefit from the trust or are entitled to receive income or benefits from the values held by the trust. Thus the beneficiaries could be a class of persons as described by the charter of the trust eg: Visually challenged persons. Or it could even be the members of the trust including the founder, in which case too the trust being a separate entity can hold the amounts in trust for them. Thus the beneficiaries could be any person. There are business and investment trusts that are created for the purpose of business or are based on profit making and this is usually done using the capital provided by the donors or creators of the trust. This type of trust closely resembles a partnership and can be taxed as a business entity in the same way as a company. Thus there is no tax exemption as in the case of charitable trusts. (CCH Incorporated, Commerce Clearing House, CCH Tax Law, 2007) A liquidating trust likewise is formed to liquidate assets and it is taxed as a trust."

Tags:deductions, evasion, fiduciaries, beneficiaries, trusts

Abstract
This paper explains that, given the Sarbanes-Oxley Act of 2002, in January, 2003, the FASB issued Interpretation Brief No. 46, Consolidation of Variable Interest Entities, which provides guidance to CPAs and financial professionals in the consolidation of variable interest entities (VIE). The author points out that the article's main points define how to choose if a VIE should be consolidated into a given firm's financial statements, provide the definition of primary beneficiaries of a VIE as well as provide guidance on how to account for a joint venture's creation of a VIE as in the case of Dell Financial Services and CTI Group. The paper states that the complexities of consolidating VIEs will increase significantly over time as joint ventures, mergers and acquisitions become the fuel of industry consolidations in manufacturing specifically.

Table of Contents:
Article Summary
Conclusion

From the Paper
"The author states the example of Dell Financial Services (DFS) and CIT Group (CIT), and the assignment of VIE consolidation to the former due to their role in the joint venture of assuming liability for losses. CIT acts as the financial intermediary that enables transactions between DFS and customers acquiring Dell products and services. Dell owns a 70% stake in CIT and had invested as of January 31, 2003 a total of $35M in its operations. The joint venture is structured such that losses generated by DFS are fully allocated to CIT, while network incomes are allocated 70% to Dell and 30% to CIT."

Tags:sarbanes-oxley, interpretation, beneficiaries, dell, mergers

Abstract
The American health care system has been at the center of debate for many years. One of the most pressing issues confronting the health care system involves Medicare and its beneficiaries. This discussion focuses on the ramifications of moving Medicare beneficiaries into managed care organizations (MCOs). The paper illustrates that moving the Medicare beneficiaries into MCOs is a bad idea because there will not to be any real cost savings, and many individuals are likely to be denied needed care.

From the Paper
"An article found in American Economic Review explains that Medicare is the second largest government entitlement program in the United States. The cost associated with running this program is astronomical. The article asserts that in 1999 the government spent $230 billion or 13% of its budget on Medicare and its beneficiaries. (Antos and Bilheimer) The major issue with Medicare is that it is expected to grow exponentially in the next few years due to the aging population. It is estimated that 47 million people will be enrolled in the Medicare program. (Antos and Bilheimer)"

Tags:medicare, mco, managed, care, organizations

Abstract
This paper discusses how the Medicare Fair Prescription Drug Price Act of 2007 is an amendment of the Medicare Prescription Drug Improvement and Modernization Act of 2003 (MMA) and how, according to the latter, Medicare beneficiaries receive a prescription drug benefit called Part D. Private prescription drug plans are also approved for Medicare beneficiaries by the federal government. It also discusses how government interference in MMA, according to the regulations of the 2007 Act, would work for the benefit of price regulation, but to the detriment of choice and market competition.

From the Paper
"The main benefit of Medicare Part D is to beneficiaries and taxpayers - in other words, to the public. Beneficiaries are allowed to choose whatever they prefer in terms of pricing and type of drugs. The market competition encouraged the negotiations between private plans and drug providers are therefore not beneficial only in terms of lower costs for certain drugs, but also in terms of choice. Some beneficiaries choose the higher priced drugs that work best for them, while others prefer lower costs for the financial benefits gained in this way. The plan therefore provides enough diversity for the public to choose from."

Tags:price, regulation, mma, part, d

Abstract
It is often true that in a bankruptcy case, creditors battle over control of the property of the debtor's estate. Creditors in certain industries have been the beneficiaries of state law in different states that have created special treatment for certain classes of creditors

From the Paper
"INTRODUCTION

It is often true that in a bankruptcy case, creditors battle over control of the property of the debtor's estate. Creditors in certain industries have been the beneficiaries of state law in different states that have created special treatment for certain classes of creditors. Industries with the strongest lobbies are usually the beneficiaries of such special protection, and the construction industry lobby has been particularly diligent in securing such benefits for suppliers of goods and services on construction projects for the improvement of real property. The traditional form of protection is the mechanics of materialmen liens granted under state law, but the procedure for the creation and perfection of mechanics and materialmen liens varies from state to state and can be very technical. Each state ..."

Abstract
An examination of the reasons why Social Security was enacted, the history of the program, Social Security today and its possible future. The author discusses the various reforms and improvements which are being currently proposed and concludes that the Social Security System is in need of many financial reforms as well as rule changes to create greater equality among beneficiaries in a changing society.

From the Paper
"The history of Social Security began with the idea of Land grants provided by Federal funds. The first Federal Grant was made in 1785 for establishing public schools in the Northwest Territory. In 1787, the Northwest Ordinance endowed States and territorial universities with land grants. From that time through the 1850s many Federally Funded hospitals, schools and public institutions were formed. The 1860 US Census reported 849,000 persons to be 65 or older. That was then 2% of the entire United States population (SSA, history, 2002).
The first private pension plan in American Industry was adopted in 1875 by American Express. It provided benefits for persons who had been with the company for twenty years and who were over 60 years of age and had become unable to perform their job (SSA, history, 2002). This was the model after which the Social Security Program was modeled."

Tags:reform, poverty, retire, fund, grant, system, pension, insurance, act, financial