Pension & Benefits NetNews – July 29, 2014

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Featured This Week

Employee Benefits Management News

  • ERISA-governed health plans that cease providing contraceptive services must disclose changes
  • Federal appeals court axes subsidies for federally-run health insurance exchanges
  • Lack of statehood gets territories off the hook for some ACA provisions
  • Draft forms for reporting employee health coverage are released by IRS

Pension Plan Guide News

  • Gotbaum to step down as head of PBGC
  • PBGC explains difference between single- and multiemployer plans
  • IRS seeks comments on notice of significant reduction in the rate of future plan benefit accruals

Employee Benefits Management News

ERISA-governed health plans that cease providing contraceptive services must disclose changes

In response to the Supreme Court’s decision in Hobby Lobby v. Burwell, the Departments of Labor, Health and Human Services (HHS), and the Treasury have issued a Frequently Asked Question (FAQ) that addresses disclosure requirements for plans that will cease providing coverage for some or all contraceptive services mid-plan year. For details, see ¶2078W.

(Read Intelliconnect) »

Federal appeals court axes subsidies for federally-run health insurance exchanges

Internal Revenue Code Sec. 36B limits the availability of premium tax credit subsidies only to insurance purchased under state-established Exchanges and not to insurance purchased under Exchanges established by the federal government on behalf of the states, according to a three judge panel of the federal appeals court for the District of Columbia circuit. For more information, see ¶2078X.

(Read Intelliconnect) »

Lack of statehood gets territories off the hook for some ACA provisions

Five U.S. territories are not required to comply with certain provisions of the Patient Protection and Affordable Care Act (ACA), the HHS clarified in a letter to the territories on July 16. For more information, see ¶2078Y.

(Read Intelliconnect) »

Draft forms for reporting employee health coverage are released by IRS

Draft forms that employers will soon have to use to report on health coverage they offer to their employees were released by the IRS on July 24, 2014. For more information, see ¶2079A.

(Read Intelliconnect) »

Pension Plan Guide News

Gotbaum to step down as head of PBGC

The PBGC has announced Josh Gotbaum will step down as director of the agency next month. For more information, see ¶129I.

(Read Intelliconnect) »

PBGC explains difference between single- and multiemployer plans

In its blog, the PBGC explains the difference between its single- and multiemployer plan programs. The PBGC runs two insurance programs that safeguard retirement benefits in different ways. For more information, see ¶129M.

(Read Intelliconnect) »

IRS seeks comments on notice of significant reduction in the rate of future plan benefit accruals

The IRS is seeking comments on an extension of a currently approved information collection pertaining to final regulations providing guidance on the 204(h) notice requirements relating to a plan amendment that is permitted to reduce benefits accrued before the applicable amendment date. For more information, see ¶129K.

(Read Intelliconnect) »