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HHS Fact Sheet Provides Reminder of HIPAA Liability for Business Associates (PDF)

"Business associates can be held directly liable for certain types of HIPAA violations. Business associates include TPAs, consultants or brokers, and other entities that receive PHI on behalf of a health plan. HHS actively enforces the HIPAA Rules, with costly outcomes for covered entities and business associates."

What Plan Sponsors Need to Know About Anti-Obesity Medications (PDF)

"While allowing these medications to be covered may lead to more short-term pharmacy spending, in the long-term it could alleviate overall costs by treating diseases associated with obesity.... Utilization management (UM) helps to ensure that these drugs are only used for patients who have diabetes. Prior authorization could also be implemented[.]"

New Fiduciary Rule Takes Effect for Health Savings Accounts (PDF)

"While acknowledging that HSAs generally hold fewer assets and may exist for shorter durations than IRAs, the DOL determined that HSA owners are entitled to receive the same protections from conflicted investment advice as IRA owners. The DOL also recognized that HSAs may have associated investment accounts that can be used as long-term savings accounts for retiree health care expenses. In addition, the DOL clarified that the final rule does not apply to recommendations to welfare plans (such as health plans, disability plans or term life insurance) where they do not contain an investment component."

Updated 417(e) Mortality Table Will Decrease 2024 Lump Sum Values in Most Defined Benefit Plans

"Preliminary analysis shows that the new table will reduce lump sums by approximately 1.25% to 1.5% for participants in plans with a normal retirement age of 65. This reduction is significant, but may be lost in the effect of increasing corporate bond rates trending higher than those in place for 2023 lump sums."

IRS Releases Final Forms and Instructions for 2023 ACA Reporting (PDF)

"No major substantive changes were made to the final forms and instructions for 2023 reporting.... The 2023 instructions include information on the new electronic filing threshold for information returns required to be filed on or after Jan. 1, 2024, which has been decreased to 10 or more returns"

PCORI Fee Amount Adjusted for 2024 (PDF)

"The [IRS] has issued Notice 2023-70 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2023, and before Oct. 1, 2024. The updated PCORI fee amount is $3.22 multiplied by the average number of lives covered under the plan. For plan years that ended on or after Oct. 1, 2022, and before Oct. 1, 2023, the PCORI fee amount is $3.00 multiplied by the average number of lives covered under the plan."

Medicare Part D Notices Are Due Before Oct. 15, 2023 (PDF)

"Medicare Part D imposes disclosure requirements on employers with group health plans that provide prescription drug coverage to Medicare- eligible individuals. Plan sponsors must provide the annual Medicare Part D creditable coverage disclosure notices to individuals before Oct. 15, 2023. Model notices are available for employers to use."

DOL Releases Updated Model Employer CHIP Notice (PDF)

"[EBSA], has released a new model Employer CHIP Notice with information current as of July 31, 2023.... [CHIPRA] imposes an annual notice requirement on employers that maintain group health plans in states that provide premium assistance subsidies under a Medicaid plan or a Children's Health Insurance Plan (CHIP)."

Flexible Analysis Helps a Sponsor Make Optimal Risk-Transfer Decisions

"Some sponsors are willing and able to settle or mitigate risks all at once, but many others chose a longer-term strategic approach. An approach like this may be accomplished through any combination of matching investments to plan liabilities, offering lump sum benefits to terminated vested or retired participants, or transferring benefit obligations to an insurer via a group-annuity contract. Strategy aligns resources with efficient use when resources are not unlimited."

Benefits That Support Employees as Caregivers

"[1] Paid leave ... [2] Mental health services/EAP ... [3] Emergency/back-up care ... [4] Lifestyle spending accounts ... [5] Family planning and adoption benefits ... [6] Flexible work arrangements ... [7] Lactation support ... [8] Concierge services."