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The Eleventh Circuit Court of Appeals, in DeBene v. Bay Care Health System, Inc., determined that an employer had met its COBRA notification requirements based solely on ample evidence of its established procedures for providing COBRA notices. Law. COBRA requires...
The Sixth Circuit Court of Appeals, in Watkins vs. Honeywell International Inc., determined that an employer's promise to provide healthcare benefits for its retirees expired when the collective bargaining agreement ("CBA") containing the commitment expired. In...
The Financial Industry Regulatory Authority (FINRA) recently released the results of its exam program to assess compliance with securities rules and regulations. FINRA conducts cyclical examinations of broker-dealer firms: each firm undergoes an examination at least...
In Sanders vs. Temenos, Inc. the U.S. District Court for the Southern District of Florida determined that an employer was not liable for a failure to provide a COBRA notice because its former employee was not financially harmed by the omission. Facts. An employee was...
On November 27, 2018, the Social Security Administration issued a press release announcing its revision of the maximum amount of earnings subject to Social Security tax for 2018 from $128,700, as announced on October 13, 2017, to $128,400. The Social Security...
The IRS has announced, through a series of questions and answers, that it will begin the process of assessing penalties for violations of the Affordable Care Act's ("ACA"s) employer shared responsibility provisions for the 2015 calendar year. Background. Under the...
The DOL finalized its proposed 18-month extension - from January 1, 2018 to July 1, 2019 - of the Transition Period for the Best Interest Contract Exemption ("BICE"), Principal Transactions Exemption and PTE 84-24 (collectively, the "Fiduciary Compensation Exemptions"...
IRS Notice 2017-61 provides that the latest Patient Centered Outcomes Research Institute ("PCORI") fee amount for policy and plan years that end on or after October 1, 2017, and before October 1, 2018 is $2.39. This represents a 13 cent increase over the prior PCORI...
Last month, the Securities and Exchange Commission (SEC) approved a new set of rules proposed by the Financial Industry Regulatory Authority (FINRA) intending to consolidate and simplify qualification and registration requirements for registered representatives. These...
Massachusetts Governor Baker has signed Bill H. 3822 "An Act Further Regulating Employer Contributions to Health Care" (the "Act"), which will temporarily increase fees for the state's Employer Medical Assistance Contribution ("EMAC") program and create a new penalty...