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Health & Welfare Plans Newsletter

November 10, 2023

3 New Job Opportunities 3 New Job Opportunities


[Guidance Overview]

IRS Announces Benefit Plan Limits for 2024 (PDF)

"Here is the cost-of-living adjustment (COLA) grid with the limits for 2024 and the corresponding limits for 2023.... [This chart] also includes important health and welfare plan notice and filing deadlines, as well as retirement benefit plan annual limits with key retirement plan notice and filing deadlines."  MORE >>


[Guidance Overview]

2024 Health FSA Limit Increased to $3,200

"The adjustment for 2024 represents a $150 increase to the current $3,050 health FSA salary reduction contribution limit in 2023.... The indexed carryover limit for plan years starting in calendar year 2024 ... will increase to $640.... [E]mployer contributions (including non-cashable flex credits) generally cannot exceed $500 per plan year for the health FSA to maintain excepted benefit status (absent a dollar-for-dollar matching structure)."  MORE >>


[Guidance Overview]

Updated Enforcement Guidance for Transparency in Coverage Machine Readable Files

"Q2 of FAQs Part 61 explains that the Departments will no longer continue to maintain an 'enforcement safe harbor' for the TIC in-network rates machine readable file requirement and ... they are rescinding the statement of enforcement discretion provided in FAQs Part 53.... Plans that are unable to determine dollar amounts for the in-network rates should follow the Department's technical reporting guidance."  MORE >>


[Guidance Overview]

Is a Tobacco Surcharge a 'Wellness Program'?

"Tobacco use is a health status factor that is protected by the [HIPAA/ACA] rules on nondiscrimination in health status. So, any financial incentives (whether rewards or penalties) related to tobacco use must comply with the wellness program requirements."  MORE >>

Willis Towers Watson

[Guidance Overview]

2023 Telemental Health Regs Chart New Course in Post-PHE World

"The 2023 updates report a significant evolution of the telemental health and telehealth industries, including extended regulatory flexibilities that promote increased use of telehealth.... [E]xpansion and innovation have contributed to an expanded focus on telefraud and increased enforcement activity."  MORE >>

Epstein Becker Green

[Guidance Overview]

New York Expands Regulation of ‎Pharmacy Benefit Managers While ERISA ‎Preemption Remains ‎Uncertain

"PBMs operating in New York State must be licensed by DFS by January 1, 2024.... The new provisions significantly increase documentary and informational materials PBMs must submit to [the Department of Financial Services (DFS)], such as contracts, financials, governance, and ownership structure. Companies applying for licensure must also certify their compliance with DFS's cybersecurity regulation."  MORE >>

Locke Lord

District Court Denies Employer's Motion to Dismiss ERISA Breach of Fiduciary Duty Claim for Misrepresentation About Life Insurance Coverage

"Plaintiff alleged that Defendant breached its fiduciary duties under ERISA Section 502(a)(3), by providing inadequate advice on how to effectuate the extension of her husband's life insurance policy and that she was therefore entitled to 'make whole' compensation under the equitable theory of surcharge ... The Court found that Defendant's argument against equitable surcharge was not supported." [Foughty v. Cleaver-Brooks, Inc., No. 23-3074 (N.D. Ga. Nov. 3, 2023)]  MORE >>

Roberts Disability Law

Tips for Implementing a Menopause Benefit

"[1] Get feedback from employees.... [2] Think about working with a provider.... [3] Make sure menopause benefits are supplemented by other comprehensive benefits.... [4] Train company leaders.... [5] Consider working with a women's group or ERG.... [6] Educate employees.... [7] Educate the entire workforce."  MORE >>

Society for Human Resource Management [SHRM]; membership may be required to view article

Understanding Mitigation of Cybercrime Through Adherence to HIPAA Regulatory Requirements and Organizational Best Practices (PDF)

18 pages. "[A] HIPAA-centric defensive strategy provides an employer plan sponsor with the means to identify, segregate, and potentially exterminate ransomware infiltration prior to the malware's proliferation with a user's network ... In this way, while a single device may become corrupted, savvy device operators are able to reduce the potential for an attack to infect the user's entire network."  MORE >>

The Baldwin Regulatory Compliance Collaborative

Benefits in General

[Guidance Overview]

2024 Quick Benefit Facts (PDF)

"[This] guide offers a handy single-sheet reference giving key 2021-2023 annual limits for retirement plans on one side, with health, fringe benefit and [ACA] figures on the other."  MORE >>


[Guidance Overview]

Benefits Planning for Year End and 2024

"Although there is no amendment required to single employer retirement plan documents by December 31, 2023, there are operational requirements that you will need to implement and keep records of the choices you make  ... Many employers rely on their TPA or broker to manage ... compliance requirements. Employers should verify that the TPA or broker is complying with all of the changes, as the penalties generally fall on the employer sponsoring the group health plan subject to these requirements."  MORE >>

Jackson Walker

Employee Benefits Jobs

View job as Relationship Manager
            for Benefit Plans Plus, LLC

Relationship Manager

Benefit Plans Plus, LLC

Remote / Saint Louis MO / Hybrid

View job as Relationship Manager for Benefit Plans Plus, LLC

View job as Retirement Services Account Administrator II
            for Frost Bank

Retirement Services Account Administrator II

Frost Bank

Austin TX / Hybrid

View job as Retirement Services Account Administrator II for Frost Bank

View job as Senior Client Operations Support Specialist
            for 401k Generation

Senior Client Operations Support Specialist

401k Generation

Altamonte Springs FL / Hybrid

View job as Senior Client Operations Support Specialist for 401k Generation

Press Releases

Retirement Advisor Council Elects Board Members Kelly Famiglietta and Amy Glynn

Retirement Advisor Council

Transamerica Teams with State Street Global Advisors to Help More Americans Become Retirement Ready


Webcasts and Conferences
(Health & Welfare Plans)

Are Your ERISA Fiduciaries in the Sights of the Plaintiffs’ Bar?

November 14, 2023 WEBINAR

Seyfarth Shaw LLP

2023 ERISA Litigation: What You Need to Know

December 12, 2023 WEBINAR

Faegre Drinker

Connect Global Employee Benefits & Workforce Strategies Summit

July 22, 2024 in IL

International Foundation of Employee Benefit Plans [IFEBP]

Last Issue's Most Popular Items

Text of IRS Rev. Proc. 2023-34: Inflation-Adjusted Amounts for 2024 (PDF)

Internal Revenue Service [IRS]

Planning for 2024: Compliance for Health and Welfare Benefit Plans


Text of Instructions for 2023 IRS Form 8889: Health Savings Accounts (HSAs) (PDF)

Internal Revenue Service [IRS]

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BenefitsLink® Health & Welfare Plans Newsletter, ISSN no. 1536-9595.

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