Benefit News 11/10
Ryan Wiggins
Healthcare is Robbing Your Employees—I’m Here to Stop It | 10-40% Cost Savings | Health Rosetta Advisor
McGriff Facts in a Flash
Benefits News?
November 9, 2023 – Internal Revenue Service
The Internal Revenue Service has released Rev. Proc. 2023-24, detailing 2024 inflation-adjusted amounts for a variety of benefits, including health flexible spending accounts (FSAs), adoption assistance credits, and qualified transportation fringe benefits. The annual contribution limit for health FSAs will be $3,200 in 2024, and maximum carryover amounts will be $640.
November 8, 2023 – Thomson ReutersFollowing its issuance of final regulations regarding Medicare Secondary Payer (MSP) reporting, CMS has issued FAQ guidance for responsible reporting entities, which typically includes insurers and third party administrators. The FAQs include confirmation that the new regulations do not alter existing reporting requirements, and clarify dates such as when penalties may be imposed.
November 8, 2023 – Jackson Lewis P.C.
Ohio recently joined 23 other states in legalizing recreational marijuana, with voters approving an initiative allowing individuals 21 and older to buy, possess, and grow limited amounts, subject to a ten percent excise tax. The new law does not require employers to accommodate marijuana use, and allows them to maintain drug testing policies and take adverse actions against employees for marijuana-related activities, even if lawful and off-duty.
November 7, 2023 – Goodwin Procter LLP
This article provides an overview of recently passed drug transparency laws, which have been enacted in Florida, Louisiana, New Jersey and Utah. Other states have passed laws amending prior reporting requirements or establishing price transparency oversight boards, including California, Minnesota, New York, and Texas.
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November 7, 2023 – Littler Mendelson P.C.On Nov. 3, 2023, the Illinois Department of Labor issued proposed regulations implementing the Illinois Paid Leave for All Workers Act that requires employers to provide up to 40 hours of paid leave annually and goes into effect on Jan. 1, 2024. Employers are encouraged to review the proposed regulations while remaining alert to potential future changes, as final rules will not be available before the law goes into effect in January.
November 6, 2023 – National Conference of State LegislaturesThis year, states passed over 206 bills affecting health care costs, coverage, and delivery, addressing issues such as health care coverage mandates, mental health expansion, network adequacy, stabilization of individual and small-group markets, and measures to curb medical debt and surprise billing.
November 6, 2023 – Ogletree Deakins
California employers will be subject to a host of new laws in 2024, related to issues including paid leave, noncompete agreements, workplace violence prevention, and cannabis use. California employers are encouraged to review this summary for more details on employment-related laws going into effect next year.
District Court Addresses Interaction of Surprise Billing Rules and the Federal Arbitration Act (FAA)
November 6, 2023 – Thomson Reuters Practical Law
A Florida district court dismissed claims by out-of-network air ambulance service providers challenging an arbitrator’s decisions under the No Surprises Act’s federal independent dispute resolution process, allowing them to amend their complaints but noting the “uphill battle” they face in challenging the payment determinations.
November 3, 2023 – Jackson Lewis P.C.
Starting Jan. 1, 2024, Washington’s Paid Family and Medical Leave program will decrease the total premium rate from 0.8% to 0.74%, with employers required to report gross wages, collect premiums up to the Social Security cap of $168,600, and notify employees of the new rate. Employers with 50 or more employees are required to pay at least 28.57% of the total premium and the maximum weekly benefit will be capped at $1,456 per week in 2024.