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Topic Archives:
ERIC Victory: Treasury/IRS Confirm January 4 Payment Date for Pension Contributions
In guidance issued today, the Treasury and IRS acknowledge the delayed contribution date for pension plans. Notice 2020-82 confirms that the due date for delayed contributions under CARES Act Section 3608 is January 4, 2021.
DOL Finalizes Rule on ESG Investing
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New DOL Rule Creates Certainty and Consistency for Fiduciaries
ERIC is pleased that the Department of Labor took our concerns seriously when considering the final rule on ‘Factors in Selecting Plan Investments.’ We especially appreciate the Department, including our asks to use the terms ‘pecuniary’ and ‘non-pecuniary’ instead of ‘ESG’ and easing some documentation requirements.
ERIC Applauds Louisiana Governor for Expanding Access to Telemedicine
Interstate compacts give large employers, like ERIC member companies, the ability to expand their health benefit offerings in the state. Compacts broaden the pool of providers, reducing provider shortages, allowing patients to have more options for accessing care. They also improve market competition and boost healthcare quality and affordability for patients throughout the state.
New Health Care Pricing Transparency Regulation Will Help to Lower Costs
ERIC applauds the Trump Administration for releasing the “Transparency in Coverage” final rule, which will require insurance companies and employers to ensure health care prices are available to consumers.
ERIC Win: Michigan Governor Approves Surprise Billing Legislation
Governor Whitmer signed HB 4459, which will now ban balance billing for out-of-network services that are delivered at in-network facilities, as well as in emergency rooms, and specifies that providers will be reimbursed based on the average negotiated in-network rate in that region, or 150 percent of Medicare rates.
ERIC Victory: Michigan State House Passes Surprise Billing Legislation
The Michigan State House passed HB 4459 and HB 4990. This vote in the full State House was the last stop before making it to the Governor’s desk.
Michigan Senate Passes Surprise Billing Legislation
On Wednesday, September 30, the Michigan Senate passed surprise billing legislation: HB 4459, by 361 yeas and 32 nays, along with HB 4460 by 362 yeas and 37 nays. Michigan has been trying to address the surprise medical billing crisis for over a year.
ERIC Victory: PBGC Follows ERIC Request to Reconsider Guidance on Premium Relief
Yesterday, the PBGC announced that it is changing previous guidance on delayed contributions to allow greater flexibility for funding contributions delayed under the CARES Act. The restated guidance allows companies to apply payments made through January 1, 2021, to the funding balance for the prior year in calculating the variable rate premium.