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By McDermott Will & Emery on Dec 15, 2016
Posted In Health and Welfare Plans
In a presentation to the Silicon Valley Employers Forum, Susan M. Nash discussed recent updates to select health and welfare plans while outlining some potential issues. The agenda included changes to exchange notices, corrections to Form 1094 and 1095, issues regarding the Affordable Care Act (ACA) Section 1557 and the Equal Employment Opportunity Commission’s (EEOC)...
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Extension for Good-Faith Reporting and 2016 Forms 1095-C and 1094-C
By McDermott Will & Emery on Dec 13, 2016
Posted In Health and Welfare Plans
The Affordable Care Act (ACA) created information reporting requirements for certain large employers and issuers of health insurance coverage under Sections 6055 and 6056 of the Internal Revenue Code (Code). On November 18, 2016, the Internal Revenue Service issued Notice 2016-70, extending both the due date for furnishing individuals with Forms 1095-C and 1095-B, in...
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Congress Passed the 21st Century Cures Act
By McDermott Will & Emery on Dec 12, 2016
Posted In Benefit Controversies, Health and Welfare Plans
Congress has passed, and President Obama is expected to sign the 21st Century Cures Act, H.R. 34. Among other things, the new legislation will permit small employers (those that are not considered applicable large employers under the Affordable Care Act (ACA)), to maintain general-purpose stand-alone Health Reimbursement Arrangements (HRAs) if they do not offer a...
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IRS Adjusted ACA Fee Amounts for the 2017 Policy or Plan Years
By McDermott Will & Emery on Dec 6, 2016
Posted In Health and Welfare Plans
Patient-Centered Outcomes Research Institute (PCORI) Fee The Patient-Centered Outcomes Research Institute (PCORI) fee was established under the Affordable Care Act (ACA) to advance comparative clinical effectiveness research. The PCORI fee is assessed on issuers of health insurance policies and sponsors of self-insured health plans. The fees are calculated using the average number of lives covered...
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Acquisition Strategies for ESOP Companies
By McDermott Will & Emery on Nov 22, 2016
Posted In Employee Stock Ownership Plans (ESOPs)
ESOPs have long provided an exit strategy for owners of privately held businesses and a platform for management buyouts. Mergers and acquisition (M&A) advisors increasingly look to leverages ESOPs to accomplish both conventional stock and asset acquisitions. Once an ESOP company decides to pursue an acquisition opportunity, it will generally structure in one of three...
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Trump’s Obamacare: What Employers Can Expect
By McDermott Will & Emery on Nov 21, 2016
Posted In Benefit Controversies, Health and Welfare Plans
In the aftermath of the recent election of Donald Trump as president of the United States and the Republicans’ retention of control over both the House and the Senate, many are beginning to assess the impact of a Republican controlled Congress and presidency on the future of the Affordable Care Act (ACA). Read the full...
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IRS Restates EPCRS Correction Methods and Procedures
By McDermott Will & Emery on Nov 1, 2016
Posted In Employee Benefits, Employment, Retirement Plans
The Internal Revenue Service recently issued Revenue Procedure 2016-51, a new version of the Employee Plans Compliance Resolution System (EPCRS) to consolidate and update its prior guidance regarding how to correct of errors in qualified retirement plans. The new version of the EPCRS program also reflects changes that the IRS has made to its determination...
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DOJ, FTC Issue Antitrust Guidance to Human Resources Professionals
By McDermott Will & Emery, Stefan M. Meisner and Stephen Wu on Oct 27, 2016
Posted In Employment, Executive Compensation
On October 20, 2016, the United States Department of Justice Antitrust Division (DOJ) and Federal Trade Commission (FTC) issued joint Antitrust Guidance to Human Resource (HR) Professionals (the Guidance) involved in hiring and compensation decisions. The agencies issued the guidance to educate HR professionals about how the antitrust laws apply in the employment context. Read...
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Affordable Care Act Whistleblower Complaint Procedures
By McDermott Will & Emery on Oct 20, 2016
Posted In Health and Welfare Plans
On October 11, 2016, the Occupational Safety and Health Administration published a final rule that establishes procedures and time frames for handling whistleblower complaints under the Affordable Care Act (ACA); for hearings before US Department of Labor (DOL) administrative law judges in ACA retaliation cases; review of those decisions by the DOL Administrative Review Board;...
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Wellness Incentive Programs: Navigating Legal Landmines and Designing Effective Employee Communication Strategies
By McDermott Will & Emery on Oct 18, 2016
Posted In Employee Benefits, Employment, Health and Welfare Plans
This year’s Employer Healthcare & Benefits Congress featured a presentation by Susan Nash that addressed the many shapes and sizes of wellness programs today. Programs are typically designed to promote health and to educate employees about prevention, but some are disease management oriented, while others are designed to improve the general overall health of an...
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