Berchem, Moses & Devlin, P.C. • November 24, 2015
As an employer, you’ve worked hard to put together an attractive benefits package – vacation, insurance, retirement benefits, and maybe even some unusual perks. But many benefits go unutilized or underutilized, and retirement benefits requiring employee involvement are no exception. As defined benefit plans – pension plans that provide a set amount of income in retirement – are on life support due to economic factors, most private employers have turned to defined contribution plans (such as 401(k) plans) as an alternative, and many public employers are following suit.
XpertHR • November 20, 2015
The Departments of Labor, Health and Human Services and Treasury have jointly published comprehensive final rules under the Affordable Care Act (ACA), which essentially combine and solidify interim rules, several pieces of guidance and Questions and Answers issued since 2010, when the ACA was first enacted. The final rules, which will replace the interim rules effective January 1, 2017, pertain to grandfathered plan status, pre-existing condition exclusions, lifetime and annual limits, rescissions, dependent coverage, appeals and patient protections. The following are highlights of the final rules that are of interest to employers.
Jackson Lewis P.C. • November 16, 2015
The Employee Benefits Security Administration (EBSA) of the Federal Department of Labor plans to publish on November 18, 2015, new claims procedures for adjudicating disability benefits designed to enhance existing procedures for those benefits under Section 503 of the Employee Retirement Income Security Act (ERISA). EBSA’s goal is to apply to disability benefits many of the new procedural protections and safeguards that have been applied to group health plans under the Affordable Care Act (ACA). Interested parties may submit comments to these proposed regulations no later than 60 days after publication.
Ogletree Deakins • November 12, 2015
For many employers, the employer mandate under the Affordable Care Act (ACA) is already a reality. Having now worked out some of the administrative kinks associated with providing the health plan coverage required by the mandate, employers face a new and daunting challenge: detailed reporting to the Internal Revenue Service (IRS) to document the terms on which their coverage is offered.
Littler Mendelson, P.C. • November 11, 2015
For the third time in four years, the U.S. Supreme Court will hear a challenge to a portion of the Affordable Care Act (ACA), President Obama’s signature health reform law passed in 2010. On November 6, 2015, the Supreme Court issued a writ of certiorari in seven cases addressing the ACA’s birth control mandates and the rights of religious employers.1
Jackson Lewis P.C. • November 10, 2015
Preapproved (prototype or volume submitter) defined contribution plans must be restated for the Pension Protection Act by April 30, 2016.
Franczek Radelet P.C • November 10, 2015
On November 2nd, the President signed legislation that will raise the debt ceiling through March 2017. The legislation includes important provisions relating to pension funding, PBGC premiums, and the Affordable Care Act.
Berchem, Moses & Devlin, P.C. • November 09, 2015
Since the Affordable Care Act’s enactment in March, 2010, employers with 200+ employees have been awaiting the implementation of regulations that would explain the automatic enrollment rule. Employers with 200+ employees would have had to enroll employees in the company health care plan automatically, while allowing them the option to decline coverage. Most employer plans work the opposite way – employees must affirmatively elect to participate. On November 2, 2015, President Obama signed into law a bill that eliminated this requirement for employers. Employers may, however, choose to automatically enroll employees (subject to state laws governing payroll deductions). The repeal of this provision of the Affordable Care Act simplifies the administrative process for employers and ensures that employees do not end up with unwanted and/or duplicative health benefits by virtue of their failure to opt out.
Littler Mendelson, P.C. • November 09, 2015
For the third time in four years, the U.S. Supreme Court will hear a challenge to a portion of the Affordable Care Act (ACA), President Obama’s signature health reform law passed in 2010. On November 6, 2015, the Supreme Court issued a writ of certiorari in seven cases addressing the ACA’s birth control mandates and the rights of religious employers.
XpertHR • November 06, 2015
President Barack Obama signed into law the Bipartisan Budget Act of 2015, which repeals the automatic enrollment requirement mandated by the Affordable Care Act (ACA), increases penalties under the Occupational Safety and Health Act (the OSH Act) and addresses employer premiums with respect to pensions. Although employers may welcome the repeal of the ACA automatic enrollment requirement, other provisions may raise concerns.