As the result of a joint effort, the Departments of Labor, Health and Human Services, and the Treasury (the “Agencies”) released a new FAQ entitled, “Affordable Care Act Implementation Part 50, Health Insurance Portability and Accountability Act and Coronavirus Aid, Relief, and Economic Security Act Implementation.” The FAQ addresses rapid coverage of preventive services for COVID-19 and vaccine incentives. They are Read More
Attorney Fired for Taking Parental Leave Must Arbitrate Discrimination and Termination Claims
A Maine attorney allegedly fired for taking parental leave must take his case to arbitration. A First Circuit judge decided that the language of an offer letter to the attorney required arbitration of his discrimination and wrongful termination claims. Preti Flaherty Beliveau & Pachios LLP (“Preti”) hired Bryan O'Brien as an associate in 2017 to work at its Portland office. O’Brien alleges that the firm Read More
DOL Proposes Changes to Undo Trump ESG Investment Rules (in the midst of 60-day comment period)
The U.S. Department of Labor (DOL) released a proposal that would overturn two rules implemented by the Trump administration that imposed restrictions on the way that retirement plans could assess environmental, social, and governance factors in their investment decisions. This proposal comes after a long period of outreach to financial institutions, labor organizations, and other institutions concerning a pair of Read More
Is AT&T’s Victory in Class-Action Lawsuit A Blueprint for Future Success?
Recently, telecommunications giant AT&T withstood a class-action lawsuit alleging that it failed to evaluate and monitor the retirement plan’s recordkeeping fees paid to Fidelity Investments Institutional Operations Company Inc., the plan provider. AT&T’s victory could help other plan sponsors defend against similar disputes in the future. Many business enterprises have been affected by the flood of class Read More
NCAA Athletes Want Wage Class Certification to Notify 200,000 Student-Athletes
In a federal lawsuit filed against the National Collegiate Athletic Association, plaintiffs requested conditional certification of all student-athletes who had played for NCAA Division I schools since April 2017, along with sub-groups of students who had played at 15 other colleges and universities. More than 200,000 college student-athletes could opt-in if this request for the first stage of certification and notice Read More
IRS Guidance Clarifies COVID-19 Extensions to COBRA Election and Payment Deadlines
The IRS issued guidance on the application of the COVID-19 Outbreak Period extensions to COBRA election and premium payment deadlines. The guidance was released as a coordinated effort with the Department of Labor (DOL) and the Department of Health and Human Services (HHS). In 2020, these agencies specified that taxpayers should disregard the COVID-19 Outbreak Period when calculating COBRA election and payment Read More
Biden’s Plan for Shipping Industry to Clear the Supply Chain Isn’t the Perfect Plan
The Biden administration recently announced initiatives for an expedited 90-day schedule to counteract supply shortages caused by gridlock stemming from the COVID-19 pandemic. These actions represent efforts to enlist business enterprises to increase staffing and work around the clock to get goods off the ships, into warehouse distribution centers, and onto trucks and trains so that they reach consumers more Read More
ERISA’s New Impact on Rollover Advice to IRA Owners
If you’re a wealth manager who offers investment advice to IRA owners, you must be aware of the Department of Labor’s (“DOL”) Prohibited Transaction Exemption 2020-02 (the “Investment Advice PTE”). According to the PTE, ERISA considers most recommendations to roll over an IRA as fiduciary investment advice, effective as of February 16, 2021. The PTE lists several inherent conflicts of interest that investment Read More
FAQS About Enforcement of The Affordable Care Act and Consolidated Appropriations Act
The Transparency in Coverage Final Rules (the TiC Final Rules) require non-grandfathered group health plans and health insurance issuers to disclose certain billing information for covered items and services on a public website. This includes in-network provider rates, allowed amounts for out-of-network services, billed charges, and negotiated rates and historical net prices for covered prescription drugs in three Read More
Billing Practices That Don’t Comply with The Terms of a Health Plan May Be a Fiduciary Breach
In Peters v. Aetna Inc., (2021, CA4) 2021 WL 2546412), Peters sued on behalf of herself and other plan participants in her employer’s self-insured ERISA group health plan. She alleged that the billing practices used by the plan’s claims administrator and a subcontractor violated the plan’s terms and that these wrongful billing practices constituted a breach of fiduciary duties under the plan. Peters alleged that the Read More
