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IRS Issues Proposed Rule on Business Expense Deductions

On February 26, 2020, the IRS published proposed regulations implementing changes made by the Tax Cuts and Jobs Act of 2017 (TCJA) regarding the elimination of deductions for entertainment and the limitation on food and beverage expenses. The regulations largely track prior IRS guidance, Notice 2018-76, on these issues.

March 31st Deadline for 403(b) Plan Sponsors

If your organization sponsors a 403(b) plan for employees and has not adopted an up-to-date written plan document that complies with the applicable regulations, you have until March 31, 2020 to do so. Failure to do could cause substantial negative tax consequences for employees (and the organization) or cause the organization to incur substantial penalties to avoid those consequences.

The Supreme Court Defines Actual Knowledge

In a closely watched decision, Intel Corporation Investment Policy Committee v. Sulyma, Slip Op. No. 18-1116 (U.S. S. Ct., Feb. 26, 2020), construing ERISA’s three-year statute of limitations, see ERISA § 413(2), 29 U.S.C. § 1113(2), the Supreme Court held unanimously (J. Alito) that “actual knowledge” means “. . . when a plaintiff actually is aware of the relevant facts, not when he should be.”

ACA Checkup: What Do Employers Need to Know in 2020?

Despite multiple challenges, many portions of the Patient Protection and Affordable Care Act (ACA) are still in effect and employers are taking steps to remain in compliance with the law. This fact sheet is intended as a quick checkup as businesses prepare for reporting on coverage offered under their employer-sponsored healthcare plans in 2019 and develop their compliance strategies for 2020.

HIPAA Privacy and Coronavirus

With the recent spread of coronavirus (2019-nCoV), it is an important time to examine what information employers may share under HIPAA’s Privacy Rule during an outbreak of infectious disease or other emergency situation.

Is My Public School, Private School, or College or University Subject to the HIPAA Privacy Rule? Revised Federal Guidance Provides Answers

School leaders are often understandably confused as to which law applies to health- or medical-related records in schools: The Family Educational Rights and Privacy Act (FERPA) or the Health Insurance Portability and Accountability Act of 1996 (HIPAA) “Privacy Rule.”

Top Trends to Look For in Healthcare in 2020

Healthcare consumers continue to pay more and more toward their out-of-pocket healthcare costs, driving a shift away from volume-based compensation models toward outcomes-based payment arrangements. By all accounts, meaningful consumerism in the healthcare market is rapidly emerging.

Lawmakers Secure Signatures on the SECURE Act

In late December 2019, President Trump signed appropriations bill H.R. 1865, which includes tax and retirement plan provisions from the Setting Every Community Up for Retirement Enhancement Act (SECURE Act, the Act). Most observers felt that the Act had little chance to pass in 2019, but it was attached to a must-pass appropriations bill, which did the trick. A summary of the major changes and a table with effective dates follow.

Recent Developments in Affordable Care Act Compliance: Employer Obligations for 2018 and Beyond

Over the past year, there has been a significant focus in the press on various attempts to overhaul or repeal key elements of the Affordable Care Act (“ACA”), which was originally passed into law almost eight years ago. While there have been some changes to the ACA over the past few months, it is important to recognize that most of the obligations that the ACA imposes on employers remain untouched.

Second Circuit Rules ERISA Plan Can Be Reformed Absent Any Mistakes, Fraud or Other Inequitable Conduct

The Second Circuit recently considered for the first time whether the equitable remedy of reformation was available under the Employee Retirement Income Security Act (ERISA) where a court determined that the written terms of a retirement plan violated ERISA but no allegation of fraud, mistake, or inequitable conduct existed. In Laurent v. PricewaterhouseCoopers LLP, the court found that “terms violative of ERISA” may serve an independent basis justifying an award of a reformation remedy as to a plan, indicating that its decision is in line with a “hint” from the Supreme Court in its 2011 decision in CIGNA Corp. v. Amara1 (referred to as “Amara III”) that courts should broadly construe remedies in equity under ERISA § 502(a)(3).2
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