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Health & Welfare Plans Newsletter

August 29, 2023

5 New Job Opportunities 5 New Job Opportunities

 

[Official Guidance]

HHS Selects the First Ten Drugs for Medicare Drug Price Negotiation

"The selected drug list for the first round of negotiation is: [1] Eliquis; [2] Jardiance; [3] Xarelto; [4] Januvia; [5] Farxiga; [6] Entresto; [7] Enbrel; [8] Imbruvica; [9] Stelara; [10] Fiasp; Fiasp FlexTouch; Fiasp PenFill; NovoLog; NovoLog FlexPen; NovoLog PenFill. These selected drugs accounted for $50.5 billion in total Part D gross covered prescription drug costs, or about 20%, of total Part D gross covered prescription drug costs between June 1, 2022 and May 31, 2023," [Also available: Fact Sheet from the Office of the Assistant Secretary for Planning and Evaluation (ASPE) and CMS Fact Sheet on the drugs selected for the Medicare Drug Price Negotiation Program]  MORE >>

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

[Guidance Overview]

2024 Healthcare Affordability Percentage May Make Benefits More Expensive for Employers

"Employers who use the safe harbor dollar amount to set employee contributions will need to reduce the current employee contributions for the lowest-cost, self-only plan option in 2024.... For Oregon and Washington employers where minimum wages are more than double the federal wage, using the Rate of Pay safe harbor method would allow employers to charge approximately $50-$100 more per month (depending on minimum wage in the city or county) than the $101.94 allowed by using the FPL safe harbor."  MORE >>

Schwabe, Williamson & Wyatt, P.C.

[Guidance Overview]

Oregon's PFML Program Is Going Live Soon: What Employers Need to Know

"Eligible employees may receive benefits under Oregon's paid family and medical leave (PFML) program starting September 3, 2023.... This advisory provides a brief overview of PFML program basics, explains recent changes to PFML and related laws, and highlights some key considerations to help employers navigate this new program."  MORE >>

Davis Wright Tremaine LLP

[Guidance Overview]

The 'No More Restrictive' Requirement for NQTLs Under the Proposed MHPAEA Regs

"As proposed, NQTLs would be subject to numerical standards testing similar to the current law testing that applies to financial requirements and NQTLs. While the 'substantially all' prong would not change, some minor modifications would be made to the 'predominant' prong. Under the proposed regulations, when testing NQTLs, the term 'predominant' would refer to the most common or most frequent variation of an NQTL within a benefit classification rather than 'more than one-half.' "  MORE >>

McDermott Will & Emery

No Surprises Act Arbitration Is Too Expensive

"Providers finally obtained court ordered relief to the $350 administrative fee each party was required to pay as part of the Federal Independent Dispute Resolution (IDR) Process under the No Surprises Act. Until the [HHS, DOL and Treasury] set a new administrative fee amount, the administrative fee for disputes initiated on or after August 3, 2023, will be $50 per party per dispute." [Texas Medical Association (TMA) v. HHS, No. 23-0059 (E.D. Tex. Aug. 3, 2023)]  MORE >>

Akerman

Medicare Enrollees' Use and Out-of-Pocket Expenditures for Drugs Selected for Negotiation Under the Medicare Drug Price Negotiation Program (PDF)

"Medicare enrollees taking the 10 drugs covered under Part D selected for negotiation for initial price applicability year 2026 paid a total of $3.4 billion in out-of-pocket costs in 2022 for these drugs. Average annual out-of-pocket costs per enrollee taking these drugs ranged from a high of $5,247 per enrollee for Imbruvica to a low of $121 per enrollee for NovoLog in 2022. Among enrollees who do not receive financial assistance, average annual out-of-pocket costs ranged from a high of $6,497 per enrollee for Imbruvica to a low of $261 per enrollee for NovoLog."  MORE >>

Assistant Secretary for Planning and Evaluation [ASPE], U.S. Department of Health and Human Services [HHS]

Hospital Prices for Commercial Plans Are Twice Those for Medicare Advantage Plans When Negotiated by the Same Insurer

"[The authors] investigated the ratio of commercial-to-MA prices negotiated by the same insurer, in the same hospital and for the same services ... Insurers negotiated median hospital prices for commercial plans that were two to three times higher than their MA prices in the same hospital for the same service. The median commercial-to-MA price ratio in the same hospital varied, from 1.8 for surgery and medicine services to 2.2 for laboratory tests and emergency department visits and 2.4 for imaging services."  MORE >>

Health Affairs Forefront

[Opinion]

U.S. Chamber of Commerce Letter to the HHS Secretary Becerra on Medicare Drug Pricing

"Prudence and good governance would dictate that in implementing the price control mechanisms of the IRA, your agency would have sought to determine the extent of the negative side effects and taken steps to the maximum extent practicable to reduce the negative impacts. We seek to know whether in establishing the drug price program and in selecting the 10 initial medicines [HHS] did the following: [1] Conducted research to know the effects of the policy on new drug development. [2] Attempted to ascertain if the new treatments would likely be concentrated in particular therapeutic specialties such as cancer and Alzheimer's. [3] Assessed the impact on seniors' timely access to new treatments."  MORE >>

U.S. Chamber of Commerce

Benefits in General

[Official Guidance]

DOL Extends Grace Period for EFAST2 Login Credentials

"While EBSA is helping users make a gradual transition by allowing users with EFAST2 accounts established before Jan. 1, 2023, to use those credentials until Dec. 31, 2023, the agency reminds all users that they must obtain Login.gov credentials by the December deadline. Users who created new EFAST2 accounts since Jan. 1, 2023, have already been directed to obtain Login.gov credentials."  MORE >>

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

Companies Outsource 40% of Their Benefits Functions

"The most common outsourced benefit services include: Employee assistance programs (EAPs) -- 80%. COBRA administration -- 79%. Pharmacy benefits administration -- 75%. Flexible spending accounts (FSAs) -- 75%. Retirement benefit payments -- 59%. Health savings account (HSA) administration -- 54%."  MORE >>

International Foundation of Employee Benefit Plans [IFEBP]

Employee Benefits Jobs

View job as Retirement Plan Relationship Manager
for The Finway Group

Retirement Plan Relationship Manager

The Finway Group

Remote / West Des Moines IA

View job as Retirement Plan Relationship Manager for The Finway Group

View job as Retirement Plan Consultant
for Benetrends Financial

Retirement Plan Consultant

Benetrends Financial

Remote / Lansdale PA / Hybrid

View job as Retirement Plan Consultant for Benetrends Financial

View job as Senior Retirement Analyst
for Dunbar, Bender & Zapf, Inc.

Senior Retirement Analyst

Dunbar, Bender & Zapf, Inc.

Remote / Pittsburgh PA

View job as Senior Retirement Analyst for Dunbar, Bender & Zapf, Inc.

View job as Actuarial Associate II
for CAPTRUST

Actuarial Associate II

CAPTRUST

Raleigh NC / New York NY

View job as Actuarial Associate II for CAPTRUST

View job as Client Management Consultant
for CAPTRUST

Client Management Consultant

CAPTRUST

Allentown PA / Raleigh NC / Charlotte NC

View job as Client Management Consultant for CAPTRUST

Press Releases

National Alliance of Healthcare Purchaser Coalitions and HR Policy Association Release Resource to Support Employers in Managing Mental Health Vendors

National Alliance of Healthcare Purchaser Coalitions

Plan Providers Can Now Include Smart’s Fiduciary Services in Pooled Employer Plans

Smart

Webcasts and Conferences
(Health & Welfare Plans)

Emerging Trends in Self-Funding and Employee Benefits

September 21, 2023 in GA

Worldwide Employee Benefits Network [WEB] - Atlanta Chapter

Last Issue's Most Popular Items

IRS Issues Affordability Percentage Adjustment for 2024

Woodruff Sawyer

A Cautionary Tale for Administrators Who Neglect Employee Benefit Plan Terms

Dickinson Wright

No Surprises Act: QPA Methodology Deemed Illegal as Texas Medical Association Wins Again in Court

Healthcare Financial Management Association [HFMA]; free registration required

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BenefitsLink® Retirement Plans Newsletter, ISSN no. 1536-9587.

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