On January 16, 2025, the US Department of Labor’s (DOL) Employee Benefits Security Administration released two proposed regulations related to employee stock ownership plans (ESOPs). One regulation aims to clarify the valuation process for non-publicly traded employer stock, while the other would provide a safe harbor for transactions involving newly established ESOPs.
However, on January 20, 2025, the Trump administration froze all pending proposals, including the DOL’s ESOP regulations. If finalized, these regulations would dramatically change the landscape for fiduciaries responsible for valuing stock in privately held corporations during transactions with ESOPs.
At the close of 2024, the US Congress passed a short-term extension of Medicare telehealth flexibilities as part of the American Relief Act, 2025. The Medicare telehealth waivers, originally enacted as part of the COVID-19 public health emergency and subsequently extended through legislation, were set to end on December 31, 2024. These flexibilities, along with the Acute Hospital Care at Home waiver program, are now set to expire March 31, 2025.
On January 22, 2025, the US Department of Justice announced the indictment of seven individuals in the largest Employee Retention Credit fraud scheme to date. According to the indictment, the defendants filed more than 8,000 refund claims for ERCs and Sick and Family Leave Credits, totaling more than $600 million.
Companies with global equity plans should be aware of their reporting obligations with respect to their equity awards. This client alert highlights key reporting obligations in certain countries related to equity plan activity for the prior calendar year (i.e., 2024) and ongoing obligations during calendar-year 2025.
Managing healthcare costs often feels like an endless struggle for benefits professionals, employers, and employees. Nevertheless, benefits professionals persist in their efforts to control escalating healthcare expenses.
In this article, Alden Bianchi and industry members share their predictions about the healthcare landscape, zeroing in on primary care, weight loss drug coverage, the Affordable Care Act, and artificial intelligence.
The US Supreme Court is currently reviewing a case (US v. Skrmetti) concerning Tennessee’s ban on gender-affirming care for youth. If the Court upholds the ban, some employers might consider offering travel benefits to help employees access healthcare services that are prohibited by state law. This could also apply to other plan-covered services that are not available within a certain geographic distance.
Beginning in the first quarter of 2025, California healthcare service plans, health insurers, and certain other organizations must ensure that staff who have direct enrollee contact receive evidence-based cultural competency training focused on transgender-inclusive healthcare. This requirement arises from Senate Bill No. 923, a law passed by the California legislature in 2022. Provider directories must also be updated by March 1, 2025, to identify which in-network providers have previously offered gender-affirming services.
Two recently passed laws have modified the provisions of the Affordable Care Act (ACA) that require employers and insurers to prepare tax forms showing offers of health coverage, streamlining the compliance and reporting process.
Under the ACA’s employer shared responsibility provisions, applicable large employers must either offer qualifying health coverage to full-time employees (and their dependents), or they may face significant excise taxes. Employers may also face penalties if they fail to report, or make mistakes in reporting, the offered coverage. These new rules will ease the reporting burdens on employers seeking to prove that they follow these complex and demanding requirements.
Over the past two weeks, wildfires have caused substantial loss and damage to homes and communities in Los Angeles, California, and the surrounding areas. In the wake of such devastation, employers may seek opportunities to provide financial assistance to impacted employees. Fortunately, the Internal Revenue Service (IRS) has outlined various ways for employers to provide much-needed assistance to employees impacted by natural disasters like the wildfires, including tax-free qualified disaster relief payments, leave donation programs, and other tax-efficient options.
Gender-affirming care has become a central topic in US political discussions, significantly affecting employer-sponsored group health plans. Depending on whether they purchase insurance or self-fund their health benefits, group health plan sponsors face different challenges in covering gender-affirming care. In this PlanSponsor article, Alden Bianchi, Sarah Raaii, and Scott Kenkel explore these challenges and share best practices for group health plans to navigate this complex issue.
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