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New NJ Family Leave Act Broadens Employee Access and Benefits, Complicates Employer Compliance

"Beginning on or about 07.17.26, New Jersey employers with at least 15 employees must provide employees with leave under the New Jersey Family Leave Act. Out-of-state employers with at least 15 employees also must provide leave to their New Jersey based employees. ... [S]ignificant open questions remain as to whether this law creates any new leave rights or simply layers additional job protection on existing leave rights when an employee receives short-term disability or family leave insurance benefits."  MORE >>

RetireReady NJ Launches Statewide Retirement Savings Program

"Established by the New Jersey Secure Choice Savings Program Act, RetireReady NJ is a State-administered retirement savings program that aims to reach workers who do not have access to private employer retirement plans. New Jersey businesses with 25 or more employees that have been in business for two years or more and do not currently offer a qualified retirement plan will be required to register with the program."

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NJ Mandates Severance Pay Under NJ WARN Act Changes

"The NJ WARN Act will now apply to all employers with 100 or more employees, regardless of their tenure or the number of hours they work each week.... The notice period will now move from 60 days to 90 days.... [E]mployers will be required to pay severance to all affected employees, regardless of whether advance notice is given. The required severance amount is equal to 1 week of pay for each full year of employment."  MORE >>

Blame Actuaries and Politicians for NJ Pension Underfunding

Excerpt: The actuaries said the plan was overfunded. It had the money to cover all liabilities and then some. Investment gains would cover future benefit accruals. This lasted through the Whitman, DiFrancesco, McGreevey, and Codey administrations. No pension contributions were made even though benefits were enhanced in 2001 by about 9%. Even when Governor Jon Corzine came in, the contributions he was now told were required barely covered a half-year's benefit payouts and there was a supposed $25 billion shortfall.  MORE >>

Spotlight on Gene Therapies

"The growth of gene therapy has put pressure on plan sponsors to review strategies for their covered population, including financial implications and decisions about coverage criteria."

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'Oh, Cluck': New Ad Campaign Spotlights Costly Abuse of Surprise Billing Law

"As abuse and misuse of the No Surprises Act continues from some private equity-backed and out-of-network providers, a new ad campaign highlights how misaligned incentives create a ‘fox guarding the hen house’ dynamic, allowing bad actors to flood the law’s independent dispute resolution (IDR) process with outrageous, often ineligible claims.... Without meaningful guardrails, oversight, or accountability, the IDR process has so far added more than $5 billion in excessive costs that employers and consumers ultimately have to pay."  MORE >>

Voluntary Benefits Litigation Spotlights Disclosure

"For years, voluntary or enhanced benefits were treated as the safest part of the benefits package with minimal risk, explains Eric Silverman, founder of Voluntary Disruption. He says ERISA lawsuits involving accident, critical illness, cancer and hospital indemnity plans have forced a closer look at how these benefits are selected, priced, monitored and communicated. And the key takeaway is that process matters, even when benefits are not employer-funded."  MORE >>

Spotlight on Government Funding and Future of ACA (PDF)

"During 2017, the Republicans will keep the spotlight on writing a playbook to repeal and replace the ACA.... [A]ny replacement law would, in all likelihood, maintain some or all of the ACA insurance market reforms ... The timing and roadmap for any repeal and replacement of the ACA is not yet determined, and employers should not expect such actions to be simultaneous."  MORE >>

BLS Spotlight on Statistics: Health Care

Excerpt: This Spotlight uses BLS data to shed some light on what is happening in [the dynamic and interesting field of health care]. Read on to explore these data and discover the 'diagnosis' on health care industries and occupations as well as the 'prognosis' on future employment!  MORE >>

Medicare Part D 2010 Data Spotlight: A Comparison of PDPs Offering Basic and Enhanced Benefits (PDF)

Excerpt: Companies that sponsor Medicare Part D prescription drug plans are required to offer a basic benefit, either the standard Part D benefit defined by law or an actuarially equivalent benefit design. Plan sponsors can also offer plans with enhanced drug benefits. Enhanced plans are required to have a greater actuarial value than basic plans, but plans vary in the ways in which they improve coverage. This Part D Data Spotlight examines key differences between basic and enhanced Medicare stand-alone prescription drug plans (PDPs), including monthly premiums, cost sharing, and gap coverage.  MORE >>

Medicare Part D 2008 Data Spotlight: Ten Most Common Brand-Name Drugs (PDF)

2 pages. Excerpt: This Medicare Part D Data Spotlight examines the variation in coverage, cost sharing and utilization management tools for the 10 prescriptions most commonly used by Medicare beneficiaries, including treatments for cholesterol, cardiovascular health, osteoporosis, dementia, gastrointestinal reflux and ulcers.  MORE >>

Navigating RetireReady NJ: FAQ Guide for Employers

"As New Jersey rolls out RetireReady, employers face new requirements and responsibilities.... [T]his comprehensive list of Frequently Asked Questions (FAQs) [is] designed to address common concerns and help businesses navigate the enrollment and administration process. Understanding these details will ensure a smooth transition as the program is rolled out across New Jersey."  MORE >>

The ERISA Industry Committee Refiles Motion for Summary Judgment in NJ Warn Act Lawsuit

"Nearly three years ago, ERIC challenged amendments to the New Jersey WARN Act that would impose a series of requirements forcing employers in every industry to create ongoing administrative systems affecting severance benefits. Because these requirements violate [ERISA], ERIC filed suit to prevent overreach by the State and invalidate the amended law." [The ERISA Industry Committee v. Asaro-Angelo, No. 20-10094 (D.N.J. motion filed Mar. 14, 2023)]

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Now Teachers, Too: Another Big Hike in Employee Portion of Premiums OK'd for NJ Health Benefits

"New Jersey teachers in the state's School Employees' Health Benefits Program will be paying over 15% more for health coverage in 2023, similar though slightly less than the increase being imposed on municipal and county workers."  MORE >>

What Does the NJ Health Insurance Tax Mean for Employers?

"New Jersey Governor Phil Murphy recently signed a new law levying a 2.5% health insurance tax on net premiums collected for individual and large business plans across the state. Premiums for small businesses ... [and] certain self-funded coverages are not included.... It is expected to raise more than $200 million each year, funding a reinsurance program ... and subsidies for consumers. Both are designed to help low- and middle-income families who have limited access to affordable health insurance."  MORE >>

NJ Issues Final Earned Sick Leave Law Regs

"The main substantive change to the final regulations concerns the setting of a benefit year.... [It] remains a violation of the [Earned Sick Leave Law (ESLL)] for an employer to require an employee to use ESLL as part of taking FMLA or FLA leave.... [T]he ESLL would apply to union members covered by a CBA at the time of the ESLL's enactment upon expiration of that CBA.... The final regulations will not address how/when out-of-state employees are covered under the ESLL."  MORE >>

CMS Announces Reinsurance Funding for NJ, WI

"Combined, these two states will be receiving about $308 million in federal pass-through funding for state-based reinsurance programs.... [The total] estimated 2019 pass-through funding for all eight states is about $942 million ... Nearly 40 percent of this total funding will go to Maryland, which has the largest state-based reinsurance program."  MORE >>

New Jersey Governor Announces Plan to Require NJ Financial Industry to Put Customers' Interests First

"The rulemaking, being initiated by the New Jersey Bureau of Securities, would impose a fiduciary duty on all New Jersey investment professionals, requiring them to place their clients' interests above their own when recommending investments."  MORE >>

NJ Gov. Christie Introduces Plan to Use Lottery Revenue for Pensions

"The state says the plan would immediately reduce unfunded obligations by $13.5 billion for the state's separate pension funds for teachers, public employees, and police and firefighters ... [and] raise the funded ratio of the retirement system from 45 percent to 59 percent. It would provide $37 billion over 30 years."

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NJ Pension Proposal Would Exacerbate Pension Problems

"State legislators worried about New Jersey's deep pension debt are contemplating turning over administration of one of the largest retirement funds to workers and retirees. The idea behind the move sounds simple: Workers and retirees, who are beneficiaries of the system, can be relied on to run it well. The only problem is that this has already been tried around the country and has helped create some of the nation's biggest pension fiascos, as workers and unions have managed pensions for their benefit, leaving taxpayers on the hook for huge losses. This is not the kind of reform that Jersey residents facing tens of billions of dollars in pension debt need."  MORE >>