Insights

On January 17, 2024, the DOL released guidance regarding pension-linked emergency savings accounts (PLESAs) as part of the implementation of the SECURE 2.0 Act. The guidance, which is in the form of 20 frequently asked questions (FAQs), provides general compliance information. The FAQs were developed in consultation with the IRS and follow a recent IRS notice concerning PLESA anti-abuse rules. (Please see our January 17, 2024, Compliance Corner article.) As explained by the first five FAQs, PLE

On January 22, 2024, the DOL, HHS, and IRS (the departments) issued FAQ guidance addressing required coverage of contraceptive drugs under the ACA in response to reports of “unreasonable medical management techniques and other problematic practices” imposing barriers to contraceptive coverage without cost-sharing. The ACA requires non-grandfathered group health plans and insurers to cover without any cost-sharing at least one form of contraception in each of 17 FDA-identified contraceptive cate

On December 19, 2023, the US Court of Appeals for the Eleventh Circuit (the Eleventh Circuit) filed an opinion in W.A. Griffin, MD v. Blue Cross Blue Shield Healthcare Plan of Georgia, Inc., per curiam, affirming the decision of the district court that an assignment of benefits by a patient to a medical provider did not include sufficiently explicit language to transfer the right to bring nonpayment, statutory penalty suits under ERISA. Plaintiff W.A. Griffin (Griffin) is a medical provider who

On January 18, 2024, the DOL released proposed regulations on automatic portability transactions for retirement plans when employees change jobs. This proposed change could make it easier for employees to keep track of existing retirement plan accounts with a benefit valued at $7,000 or less upon job termination. Currently, the rules allow those account balances to automatically roll over into a Safe Harbor IRA if the employee does not take certain actions upon job termination. The proposed rul

No. While the ACA requires applicable large employers to offer their full-time employees (and dependents) the opportunity to enroll in affordable minimum value coverage under an eligible employer-sponsored plan, this requirement does not apply to independent contractors, assuming they are properly classified as such. The analysis used for purposes of the ACA is similar to but not precisely the same as that used for other employment classifications such as that used for determining worker status

Business reorganizations, such as mergers and acquisitions, impact many aspects of benefits compliance. In this webinar, we discussed health and welfare benefit compliance considerations that often arise during a business reorganization. Topics addressed included considerations under the ACA, COBRA, ERISA, and Code Sections 125 and 105. In addition, we reviewed how the transaction structure, benefit offerings, employer size, and plan funding impact benefits compliance obligations. By the end of

With the start of another year comes the evaluation of last year’s progress and making new goals. As you plan this year’s achievements, understanding today’s trends and market shifts offers you the opportunity to make better-informed decisions that lead to successful outcomes for your business. Moving into the first half of 2024, the H2 2023 Property and Casualty Trend Report and Claims Journal offers a recap on markets as they changed over the course of Q3 and Q4 and offers projections from ou

On January 9, 2024, the DOL announced its final rule on worker classification for purposes of the Fair Labor Standards Act (FLSA). The FLSA became law in 1938 and established the federal minimum wage, overtime pay requirements, and other protections for employees. However, the FLSA defines “employee” very generally as “any individual employed by an employer.” Accordingly, a multifactor test eventually emerged in the federal courts to determine whether a worker was an employee subject to the FLS

On January 11, 2024, the DOL published a final rule adjusting civil monetary penalties under ERISA. The annual adjustments relate to a wide range of compliance issues and are based on the percentage increase in the consumer price index for all urban consumers (CPI-U) from October of the preceding year. The DOL last adjusted certain penalties under ERISA in January of 2023. Highlights of the 2024 penalties that may be levied against sponsors of ERISA-covered plans include: Failure to file Form