Final Regulation on Disclosure and Review of Rate Increases

HHS issues final regulations on the disclosure and review of rate increases by insurance companies. Document Excerpt This final rule with comment period implements requiremetns for health insurance issurers regarding disclosure and review of unreasonable premium increases under section 2794 of the Public Health Service Act. The final rule establishes a rate review program to […]

PBGC Preliminary Plan for Regulatory Review

In response to the White House directive, the PBGC issues its Preliminary Plan for regulatory review including regulations currently under review for possible revision. Document Excerpt  This document sets forth the Pension Benefit Guaranty Corporation’s preliminary plan for the review of its existing regulations, pursuant to Executive Order 13563 on Improving Regulation and Regulatory Review. […]

Delay in Date To Submit Drug Fee Error Reports

Notice 2011-46 provides that the IRS has deferred the date from June 1, 2011 to June 10, 2011, for submitting branded prescription drug fee error reports. Document Excerpt The IRS has been told that certain covered entities may have difficulty meeting the June 1 deadline for submitting these error reports because of the volume of […]

Qs and As on Medical Loss Ratio

HHS has issued guidance on the medical loss ratio requirements under the Affordable Care Act applicable to insurers. Document Excerpt  This Bulletin provides guidance on the following topics regarding the MLR Interim Final Rule:• Definition of Small Employer; • Mini-Med Plan MLR Reporting; • Expatriate Plan MLR Reporting; • Reimbursement for Clinical Services Provided to […]

Supreme Court Holds Detrimental Reliance Not Required

The Supreme Court in Cigna v. Amara holds that the more rigorous requirement of demonstrating detrimental reliance is not required, but rather, in order to recover, the plaintiff must show actual harm and causation. Document Excerpt We believe that, to obtain relief by surcharge for violations of §§102(a) and 104(b), a plan participant or beneficiary must […]

Interest Rate for June

The PBGC announces the interest rate for June lump sum payments. Document Excerpt The immediate interest rate for valuing lump sum payments for the month of June 2011 is 2.50%. The deferred interest rate I1 is 4.00%, I2 is 4.00%, and I3 is 4.00%. (The immediate interest rate for May 2011 was 2.50% for lump […]

2012 Inflation Adjusted HSA Amounts

Revenue Procedure 2011-32 provides 2012 inflation adjusted amounts applicable to Health Savings Accounts. Document Excerpt This revenue procedure provides the 2012 inflation adjusted amounts for Health Savings Accounts (HSAs) as determined under § 223 of the Internal Revenue Code.   Link  http://www.irs.gov/pub/irs-drop/rp-11-32.pdf

Notice of Intent for Investment Adviser Performance Compensation

The SEC gives notice that it intends to issue an order that would adjust two dollar amount tests in the rule under the Investment Advisers Act of 1940 that permits investment advisers to charge performance based compensation to “qualified clients.” Document Excerpt The adjustments would revise the dollar amount tests to account for the effects […]

Final Rule on Benefits Payable in Terminated Single-Employer Plans

This final rule amends the PBGC regulation on Benefits Payable in Terminated Single Employer Plans to set forth the interest assumptions under the regulation for valuation dates in June 2011. Document Excerpt This final rule amends the Pension Benefit Guaranty Corporation’s regulation on Benefits Payable in Terminated Single-Employer Plans to prescribe interest assumptions under the […]

Updated Corporate Bond and Weighted Average Information

Notice 2011-41 provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under Section 412(b)(5)(B)(ii)(II). Document Excerpt This notice provides guidance as to the corporate bond weighted average interest rate and the permissible range of interest rates specified under § 412(b)(5)(B)(ii)(II) of the Internal Revenue Code […]

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