Pension and Benefits NetNews – January 5, 2015

 

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Featured This Week

 

Employee Benefits Management News

 

  • Employees paying more, getting less from employer-based plans
  • Omnibus funding bill excludes certain expatriate health plans from ACA
  • Proposed rules on excepted benefits address wraparound coverage
  • IRS proposes amendments to summary of benefits and coverage rules

Pension Plan Guide News

 

  • House and Senate approve spending legislation with provisions to shore up multiemployer plan system
  • MyRA program is not covered under ERISA Title I, says DOL
  • IRS has made changes to their processing of employee plan determination letters that take effect in 2015

 

Employee Benefits Management News

 

Employees paying more, getting less from employer-based plans

Premiums for family coverage in private employer-based health insurance plans increased 73 percent between 2003 and 2013, rising faster than the median family income, according to a Commonwealth Fund report. For more information, see ¶2082U.

        (Read Intelliconnect) »

Omnibus funding bill excludes certain expatriate health plans from ACA

— President Obama has signed a $1.1 trillion spending bill that includes provisions addressing expatriate health plans. The Consolidated and Further Continuing Appropriations Act, 2015, (P.L. 113-235) exempts certain expatriate health plans from the Patient Protection and Affordable Care Act (ACA).For details, see ¶2082Z.

        (Read Intelliconnect) »

Proposed rules on excepted benefits address wraparound coverage

The Departments of Labor, Health and Human Services, and Treasury (Departments) are seeking public comment on proposed rules that would amend the definition of excepted benefits to include certain limited wraparound coverage. For more information, see ¶2083B.

        (Read Intelliconnect) »

IRS proposes amendments to summary of benefits and coverage rules

The IRS has proposed changes to the regulations that implement the disclosure requirements under section 2715 of the Public Health Service Act to help plans and individuals better understand their health coverage, as well as to gain a better understanding of other coverage options for comparison. For more information, see ¶2083C.

        (Read Intelliconnect) »

Pension Plan Guide News

 

House and Senate approve spending legislation with provisions to shore up multiemployer plan system

The House and Senate have approved a plan designed to shore up multiemployer plans by, among other things, permitting trustees of financially-troubled multiemployer plans to reduce the vested benefits of certain participants and retirees. For more information, see ¶132G.

        (Read Intelliconnect) »

MyRA program is not covered under ERISA Title I, says DOL

Given the character of the MyRA program, including its voluntary nature, its establishment, sponsorship, and administration by the federal government, and the absence of any employer funding or role in its administration or design, the Department of Labor says that an employer would not be establishing or maintaining an “employee pension benefit plan” within the meaning of section 3(2) of ERISA. For more information, see ¶19,981Z-47.

        (Read Intelliconnect) »

IRS has made changes to their processing of employee plan determination letters that take effect in 2015

The IRS has made changes to the processing of employee plans determination letters that will take effect in 2015 and are being adopted as a result of a process improvement strategy designed to promote case processing efficiency. For more information, see ¶17,097U-1.

        (Read Intelliconnect) »

 

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