Pension & Benefits NetNews – December 11, 2012

 

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Featured This Week

Employee Benefits Management News

  • HHS proposes rules on premium stabilization programs, exchange user fees, SHOP, MLR under health reform
  • States have “great deal of latitude” when setting up exchanges, CRS reports
  • Common questions updated on Early Retiree Reimbursement Program website
  • IRS releases final regulations on fees for health insurers to fund patient center

Pension Plan Guide News

  • Advance copies of 2012 Form 5500 annual report released
  • PBGC reports record $34 billion deficit for FY 2012
  • IRS issues fourth quarter update to Priority Guidance Plan

Employee Benefits Management News

HHS proposes rules on premium stabilization programs, exchange user fees, SHOP, MLR under health reform

The Department of Health and Human Services (HHS) has issued a proposed rule that provides further detail and parameters related to: the risk adjustment, reinsurance, and risk corridors programs (know as the premium stabilization programs); cost-sharing reductions; user fees for a federally-facilitated health insurance exchange; advance payments of the premium tax credit; a federally-facilitated Small Business Health Option Program (SHOP); and the medical loss ratio (MLR) program. For details, see ¶2062Y.

(Read Intelliconnect) »

States have “great deal of latitude” when setting up exchanges, CRS reports

The Patient Protection and Affordable Care Act (ACA) requires states to establish and run state-based health benefit exchanges by Jan. 1, 2014. According to the Congressional Research Service’s (CRS) report, Health Insurance Exchanges Under the Patient Protection and Affordable Care Act, the ACA allows for a “great deal of latitude, and therefore variance,” in the number and scope of responsibilities covered under each state’s exchange. For details, see ¶2062Z.

(Read Intelliconnect) »

Common questions updated on Early Retiree Reimbursement Program website

New common questions about reporting and correcting data inaccuracies, use of reimbursement, and sending the Early Retiree Reinsurance Program (ERRP) form notice to plan participants, have been added to the use of reimbursement and miscellaneous common question sections of www.errp.gov. For more information, see ¶2063A.

(Read Intelliconnect) »

IRS releases final regulations on fees for health insurers to fund patient center

The IRS has issued final regulations implementing and providing guidance on certain fees imposed by the Patient Protection and Affordable Care Act. For more information, see ¶2063B.

(Read Intelliconnect) »

Pension Plan Guide News

Advance copies of 2012 Form 5500 annual report released

EBSA, IRS, and PBGC have released advance informational copies of the 2012 Form 5500 annual return/report and related instructions. For more information, see ¶118F.

(Read Intelliconnect) »

PBGC reports record $34 billion deficit for FY 2012

The PBGC has released its annual report for fiscal year 2012, showing that the agency’s deficit has increased to $34 billion as of year end. For more information, see ¶117Z.

(Read Intelliconnect) »

IRS issues fourth quarter update to Priority Guidance Plan

The IRS has issued the fourth quarter update to its 2011-2012 Priority Guidance Plan, which includes numerous employee benefit items. For more information, see ¶118A.

(Read Intelliconnect) »