[Guidance Overview]

IRS Proposes Permanent, Automatic 30-Day Extension for Furnishing ACA Forms

"The IRS recently released proposed rules that would make permanent and automatic the 30-day extension for furnishing ACA reporting forms to individuals.... [T]he proposed relief is available for 2021 reporting.... This has not changed the deadline for filing with the IRS.... [T]he preamble to these proposed rules reiterated that good faith relief will not be available anymore."  MORE >>

HUB International

[Guidance Overview]

IRS Proposes ACA Reporting Relief and Deadline Extensions

"[T]he proposed regulations provide that an employer would not be required to send Forms 1095-B/C to part-time employees and non-employees enrolled in the employer's self-insured plan, as long as the employer posts a 'clear and conspicuous notice' on the employer's website stating that individuals may receive a copy of their statement upon [request].... [T]his relief does not apply with respect to full-time employees."  MORE >>

Groom Law Group

[Guidance Overview]

IRS Proposes Regs on ACA Reporting: Good News and Bad News for Employers

"During the era of transitional good faith relief, the IRS has been accommodating of employers filing incomplete or inaccurate information on Forms 1094 and 1095. With the relief coming to an end, employers should take extra care to ensure the information they are reporting, especially the coding on Forms 1095-C, is accurate.... [T]he effective cost of [any] corrections may be the information reporting penalties."  MORE >>

Bradley

[Guidance Overview]

Key Dates for Calendar Year 2022: Qualified Health Plan Data Submission and Certification; Rate Review; and Risk Adjustment (PDF)

"This document summarizes proposed key dates for calendar year 2022 regarding some activities and policies that are outlined in other documents. CMS is not soliciting additional comments on the substance of the underlying policies or proposed key dates through release of this document."  MORE >>

Centers for Medicare & Medicaid Services [CMS], U.S. Department of Health and Human Services [HHS]

[Guidance Overview]

Agencies Issue Regs Implementing Prescription Drug and Health Care Spending Reporting Requirements, Including Rules for Aggregating Data

"In addition to general identifying information such as the beginning and end dates of the plan year, the number of enrollees covered, and each state in which the plan is offered, a broad range of health care spending information must be reported.... [T]he agencies advise that plans, insurers, and third-party reporting entities may submit most of the required information on an aggregate basis. The only plan-level information collected will be the general plan information."  MORE >>

Thomson Reuters / EBIA

Economic Effects of Offering a Federal Paid Family and Medical Leave Program (PDF)

11 pages. "[T]he Build Back Better Act [HR 5376] ... would establish a program whereby the federal government would provide paid family and medical leave for eligible workers.... In addition to the effect on the federal budget, that program would affect workers, employers, and states. This document describes the key channels in the labor market through which those changes could affect the economy ... The document also describes channels through which such paid leave could continue to affect the labor market in the longer run."  MORE >>

Congressional Budget Office [CBO]

Employers Warn of Health Coverage Risk Posed by 'Affordability' Change Included in Build Back Better Act

"The [Build Back Better Act (HR 5376)] ... includes a provision that would lower the share of premiums employees have to pay for coverage deemed affordable and adequate under the [ACA] to 8.5% of household income for 2022-25.... [T]he affordability threshold for 2022, as set by the [IRS], is 9.61% of income -- down from 9.83% in 2021 -- for a policy that covers only the employee.... CBO estimates the bill's changes would result in a decrease of 2.8 million in employer-based coverage enrollment from 2022-31."  MORE >>

Bloomberg Law

Paying for Drugs in Medicare Part D Under Current Law and Under Proposals to Redesign the Program (PDF)

15 pages. "Part D plans receive a fixed payment per enrollee from the federal government and bear financial risk for part of enrollees' drug costs, so plan administrators have an incentive to control costs by managing drug utilization and negotiating lower prices."  MORE >>

Congressional Budget Office [CBO]

EBSA Restores Over $2.4 Billion to Employee Benefit Plans, Participants and Beneficiaries in FY 2021 (PDF)

"In FY 2021, EBSA closed 1,072 civil investigations with 741 of those cases (69%) resulting in monetary results for plans or other corrective action.... EBSA's enforcement program helped 16,024 terminated vested participants in defined benefit plans collect benefits of $1.548 billion owed to them.... In FY 2021, EBSA obtained 449 non-monetary corrections ... [including] removal of 6 fiduciaries, orders barring 34 individuals from acting as fiduciaries, court appointments of 16 independent fiduciaries, and 124 cases involving reforms of plan procedures, such as improved search procedures for missing participants."  MORE >>

Employee Benefits Security Administration [EBSA], U.S. Department of Labor [DOL]

House Version of 'Build Back Better' Act Includes Retirement Plan and Benefits Provisions

"Moving after-tax assets from eligible plans to a Roth IRA would be prohibited.... High-income individuals with large retirement balances could not contribute to an IRA.... Additional RMDs would be required for high-income individuals with large retirement balances.... Statute of limitations would increase to six years for IRA noncompliance.... Prohibited transaction provision would be added for certain IRA investments.... Four weeks of paid leave for all workers.... Fringe benefits for bicycle commuting."  MORE >>

Ascensus

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Center for Retirement Research at Boston College

2022 Dissertation Fellowship Program Applications Now Open

Center for Retirement Research at Boston College

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Agencies Issue Two Rounds of No Surprise Billing Guidance

The Wagner Law Group

Mental Health Parity: Don't Be Left Out in the Cold!

Jackson Lewis P.C.

Wellness Programs as Alternative to Employer Vaccine Mandates (PDF)

Winstead PC