Spencer’s Benefits NetNews – July 27, 2018

 

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Self-insured plans must pay PCORI fee by July 31

Self-insured health plans are required by the Patient Protection and Affordable Care Act (ACA) to pay a fee to help fund the Patient-Centered Outcomes Research Institute (PCORI). The fee for the 2017 plan year is due by July 31, 2018.

        (Read Intelliconnect) »

ERIC comments on HHS prescription drug blueprint

In May 2018, the Trump Administration released a blueprint for lowering U.S. prescription drug prices, entitled “American Patients First.” The plan included proposals to create incentives for decreasing prices and reducing consumer out-of-pocket costs. It also included a request for information (RFI) from stakeholders. The ERISA Industry Committee (ERIC) has submitted comments in response to this RFI. ERIC’s comments focused on four areas: improving competition; better negotiation to reduce costs; creating incentives to lower drug prices; and reducing patient out-of-pocket spending.

        (Read Intelliconnect) »

PBGC proposed regs amend reporting, disclosure, and valuation rules for multiemployer plans

The Pension Benefit Guaranty Corporation (PBGC) has issued proposed regulations that would make certain reporting and disclosure of plan information by terminated and/or insolvent multiemployer plans to the PBGC and participants and beneficiaries more efficient and less costly. The proposed regulations would reduce reporting and disclosure requirements for multiemployer plans that are terminated by mass withdrawal or in critical status and that are, or are expected to be, insolvent.

        (Read Intelliconnect) »

Senate subcommittee explores paid family leave

At a recent Senate Finance Subcommittee on Social Security, Pensions, and Family Policy hearing, Senate members and other stakeholders examined the importance of paid family leave for American workers. Subcommittee members stressed that there is bipartisan support for paid family leave. Two main strategies were debated: implementing the FAMILY Act (H.R. 947) and using temporary Social Security benefits to provide paid parental leave.

        (Read Intelliconnect) »

HSA participants are savvy consumers

According to recent research from Alegeus, health savings account (HSA) participants are more fluent in health and financial concepts, more focused on cost and value, savvier spenders, and more disciplined about saving than participants in more traditional health care plans. The 2018 Alegeus HSA Participant Profile noted that the premise of health care consumerism is that, if given more financial responsibility for health care and empowered to make more informed decisions, consumers will make better choices that lead to improved health outcomes and decreased overall health care costs.

        (Read Intelliconnect) »

Guidance addresses CMS actions related to court’s invalidation of the risk adjustment program

CMS’ Center for Consumer Information & Insurance Oversight (CCIIO) has issued guidance to address the implications of a ruling issued by the U.S District Court for the District of New Mexico’s on February 28, 2018, that prevents CMS from making further collections or payments under the risk adjustment program, including amounts for the 2017 benefit year, until the litigation is resolved. The risk adjustment program was established under §1343 of the Patient Protection and Affordable Care Act (ACA) for the 2014–2018 benefit years.

        (Read Intelliconnect) »