By Employee Benefits Practice Group The Puerto Rico Treasury Department (“PR Treasury”) recently issued guidance on procedures for obtaining new favorable determination letters with respect to retirement plans intended to be qualified under the Puerto Rico Internal Revenue Code of 2011 (the 2011 PR Code). The new guidance, which is effective January 1, 2012, is… Continue Reading
Monthly Archives: December 2011
HHS Proposes Framework for Meeting Essential Health Benefits Requirement Under Affordable Care Act
By Ilyse Schuman On December 16, 2011, the Department of Health and Human Services’ Center for Consumer Information and Insurance Oversight (CCIIO) released an essential health benefits bulletin (pdf) that describes a proposed regulatory approach that the HHS will use to define essential health benefits (EHB) under the Affordable Care Act. The health care reform law… Continue Reading
DOL Revises Electronic Fee Disclosure Guidance for Pension Plans
By David M. Sawyer The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) recently issued Technical Release 2011-03R. Technical Release 2011-03R revises and clarifies Technical Release 2011-3, [pdf.] which was issued by the EBSA on September 3, 2011, as an interim enforcement policy regarding the use of electronic media to satisfy the pension plan disclosure requirements… Continue Reading
Department of Labor Proposes New Rules Affecting Multiple Employer Welfare Arrangements
By Vincent J. Mersich Multiple Employer Welfare Arrangements (MEWAs) are typically utilized by smaller employers as an alternative to other traditional forms of health insurance. In 2010, the Affordable Care Act amended ERISA to address certain perceived regulatory issues with respect to MEWAs. On Monday, December 5, 2011, the Department of Labor published proposed rules… Continue Reading
The U.S. Government Accountability Office (GAO) Issues MHPAEA Survey Report
By Adam J. Peters The U.S. GAO has issued a November 2011 report summarizing study results on employers affected by the Paul Wellstone and Pete Domenici Mental Health Parity and Addiction Act of 2008 (the MHPAEA). The report analyzes trends in health insurance coverage based on information gathered from direct responses by a random sample… Continue Reading
HHS Issues Final Rule Implementing CO-OP Program Under Affordable Care Act
By Ilyse Schuman The U.S. Department of Health and Human Services (HHS) has issued a final rule (pdf) implementing the Consumer Operated and Oriented Plan (CO-OP) program under the Affordable Care Act. The CO-OP program is designed to provide loans to encourage the creation of consumer-governed, private, nonprofit health insurance issuers that will ultimately offer… Continue Reading
HHS Issues Final Rule Addressing Issues Related to Affordable Care Act’s Medical Loss Ratio Requirements
By Ilyse Schuman The Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS) has issued a final rule (pdf) regarding certain issues associated with the Affordable Care Act’s medical loss ratio (MLR) requirements. The new health care law mandates that health insurers, depending on the size of the insurance market, spend… Continue Reading
IRS Further Extends Code Section 436 Amendment Deadline and Anti-Cutback Relief and Provides Sample Amendment
By J. René Toadvine and Sean D. Brown On November 29, 2011, the Internal Revenue Service issued Notice 2011-96 (pdf), which further extends the deadline for adopting pension plan amendments to reflect the requirements of Internal Revenue Code (“Code”) Section 436. The Notice also further extends the period during which amendments adopted to comply with Code… Continue Reading