Spencer’s Benefits NetNews – February 14, 2020

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Featured This Week

New Reports

  • Analysis: SECURE Act, 2/20 (101.-39)

    (Read Cheetah) »

  • Analysis: IRA-based SIMPLE plans, 2/20 (105.3.-1)

    (Read Cheetah) »

  • Analysis: FMLA, 2/20 (327.1.-1)

    (Read Cheetah) »

  • Analysis: Health insurance reporting, 1/20 (558.-1)

    (Read Cheetah) »

  • News

    CCIIO guidance addresses how states can request to restrict excepted benefit HRAs from reimbursing STLDI premiums

    The Center for Consumer Information and Oversight (CCIIO) has issued guidance to applicable state authorities regarding the form and manner in which to submit a written recommendation to restrict excepted benefit health reimbursement arrangements (HRAs) from reimbursing short-term, limited-duration insurance (STLDI) premiums for certain employers in their state. The purpose of such a restriction is to address concerns regarding the potential for adverse selection in the small group market if small employers that provide fully or partially insured health coverage also sponsor excepted benefit HRAs that reimburse STLDI premiums.

            (Read Cheetah) »

    FAQs clarify updates to summary of benefits and coverage for 2021

    In an effort to help people understand the Patient Protection and Affordable Care Act (ACA), and benefit from it, as intended, HHS, the Department of Labor and the Treasury have answered some frequently asked questions (FAQs) from stakeholders. The FAQ discusses the November 7, 2019 updates to the summary of benefits and coverage (SBC) examples calculator, the Guide and Narratives for coverage examples, and instructions for completing the SBC Template, and the SBC Template and associated materials. Group health plans and health insurance issuers of individual and group market coverage will be required to use these updated versions beginning on the first day of the first open enrollment period of any plan years that begin on or after January 1, 2021.

            (Read Cheetah) »

    Market stability cited in proposed plan year 2021 risk adjustment payment update

    The risk adjustment program is an important program that seeks to prevent issuers from avoiding high-cost, high-risk individuals. According to CMS, the updates in the proposed payment notice would improve the reliability of the risk adjustment program and thereby strengthen the insurance market. The proposed rule also contains a number of other provisions aimed to lower premiums, protect taxpayer dollars and strengthen the health insurance markets to deliver more competition and choice for consumers.

            (Read Cheetah) »

    FAMILY Act under scrutiny at Ways and Means hearing

    At a House Ways and Means Committee hearing on proposals for paid family and medical leave, there was considerable daylight between positions about the likelihood that the FAMILY Act would work well for everyone, but there was consensus that access to paid family and medical leave should somehow be expanded.

            (Read Cheetah) »

    IRS issues relief for reporting required minimum distributions for IRAs in 2020

    The IRS has released guidance for financial institutions on reporting required minimum distributions (RMDs) for 2020 after the amendment of Code Sec. 401(a)(9) by Division O, the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), enacted as part of the Further Consolidated Appropriations Act, 2020 (P.L. 116-94).

            (Read Cheetah) »