Aug 28, 2022 | Legislative Updates
The Departments of Labor (DOL), Health and Human Services (HHS) and the Treasury (Departments) jointly released FAQs implementing provisions of the No Surprises Act, including the requirement that plans and issuers disclose certain balance billing protections to participants. Previously, the Departments released a model notice that could be used to satisfy these disclosure requirements. Based on public comments, the Departments revised this model notice and included it in the appendix of the latest FAQs. Read more…
Aug 25, 2022 | by Rick Chelko, Commentary
The recently enacted Inflation Reduction Act includes a series of provisions intended to reduce prescription drug costs for Medicare beneficiaries. Because the bill got through Congress via the budget reconciliation process, it was not allowed to include drug pricing provisions that apply to the commercial market (i.e., employer-sponsored health plans).
So, the law couldn’t do it, but can employers do it on their own? Or maybe the bigger question is: Will they? Worse yet, will this law create a significant cost shift from Medicare to private sector plans? Only time will tell! (more…)
Aug 2, 2022 | Legislative Updates
The IRS issued Revenue Procedure 2022-34 to index the contribution percentages in 2023 for determining the affordability of an employer’s plan under the Affordable Care Act. Read more…
