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HIPAA’s long-awaited “Omnibus Rule” (also referred to in this advisory as the “Rule”), published on January 25, 2013, modifies numerous aspects of the HIPAA regulations concerning privacy, security, enforcement and breach notification. The Rule is effective on March 26, 2013, and requires compliance for most provisions by September 23,
2013. HHS has advised covered entities and business associates to update their policies and procedures and retrain workforce members, as appropriate, as a result of the changes implemented by the Omnibus Rule. While many of the changes are primarily applicable to health care providers, some action will also be required on the part of employer plan sponsors and their group health plans, as well as their business associates and subcontractors.
This advisory focuses on the Omnibus Rule provisions that most directly impact employer plan sponsors and group health plans.
March 11, 2013
Advisories
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Beginning in 2014, “applicable large employers” become subject to new rules prescribed in Internal Revenue Code Section 4980H (“4980H Rules”), which were added by the Patient Protection and Affordable Care Act (ACA). These new 4980H Rules impose a confiscatory excise tax on employers who fail to offer certain coverage to full-time employees if at least one full-time employee receives a premium tax credit or cost share reduction (“Premium Subsidy”) for coverage in an “Exchange” established pursuant to the new ACA rules. These new 4980H Rules are often referred to as the “employer shared responsibility requirements” or the “pay or play” requirements. Now, less than a year before these game-changing rules go into effect, the IRS has issued comprehensive proposed regulations (the “Proposed Rules”) that give much-needed substance to the new rules.
February 6, 2013
Advisories
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On November 26, 2012, the Departments of Labor, Treasury, and Health and Human Services published proposed regulations (the “Proposed Wellness Rules”) modifying the 2006 HIPAA wellness program regulations in light of the changes made to the statutory provisions by the Affordable Care Act. This advisory discusses key aspects of the Proposed Wellness Rules as applied to group health plans.
January 31, 2013
Advisories
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This advisory discusses the SEC’s approval of the amended listing standard of the NYSE and Nasdaq pertaining to compensation committee independence and compensation advisers. The exchanges proposed the listing standards in accordance with Section 952 of the Dodd-Frank Act and the requirements of Rule 10C-1 of the Securities Exchange Act of 1934.
January 23, 2013
Advisories
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"Expert Q&A on the Employer 'Pay or Play' Requirement Under Health Care Reform," PLC Employee Benefits & Executive Compensation, December 2012.
December 2012
Publications
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With the victory of President Obama, Americans decided that, with major economic indicators trending positive, it would be best to stay the course with the incumbent. Obama’s first term in office saw a revitalization of the U.S. auto industry, a sharp rebound in the stock market, positive growth in the economy and a steady, albeit slow and by no means sufficient, increase in job growth. Ultimately, these positive economic indicators were enough to sway an electorate that continues to place more blame for the currently weak economy on former President George W. Bush.
November 7, 2012
Advisories
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As reported in our recent advisory “SEC Adopts Final Rules Implementing Dodd-Frank Provisions on Independence of Compensation Committees and Their Advisers,” on June 20, 2012, the Securities and Exchange Commission (SEC) issued final Rule 10C-1 under the Securities Exchange Act of 1934 (“Exchange Act”) implementing the provisions of Section 952 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”).
October 5, 2012
Advisories
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This advisory serves as a reminder to plan sponsors of deadlines for amending qualified retirement plans and for submitting certain plans to the IRS for a determination letter. Plan sponsors should review their qualified retirement plans now to ensure compliance with required amendment and filing deadlines.
September 26, 2012
Advisories
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This advisory serves as a reminder of the multiple year-end notices that defined contribution plans must issue to participants. These notices must be distributed within a reasonable period of time, typically 30 days, prior to the start of the plan year. It also provides a table with a list of the content and deadlines for the most common notices that plan sponsors may need to distribute.
September 26, 2012
Advisories
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This advisory serves as a heads-up to review your deferred compensation plans and agreements NOW to be sure they have the “magic language” to be in compliance with Code Section 409A by year-end. Failure to make a simple document correction by December 31, 2012, could result in stiff tax penalties to unsuspecting employees.
September 20, 2012
Advisories
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The Patient Protection and Affordable Care Act (the “Act”) includes provisions that promote research to evaluate and compare health outcomes and the clinical effectiveness, risks and benefits of medical treatments, services, procedures, drugs and other strategies or items that treat, manage, diagnose or prevent illness or injury (“clinical effectiveness research” or “CER”). One such provision relates to the establishment of the private, nonprofit corporation, the Patient-Centered Outcomes Research Institute (the “Institute”). The Institute is funded through the Patient-Centered Outcomes Research Trust Fund (the “Trust”). The Trust, in turn, is funded through fees, discussed in this advisory, imposed on certain insurers and self-funded plan sponsors (the “CER Fees”).
The rules governing the amount of the CER Fees and the entities to which the CER Fees apply were added to the Internal Revenue Code (the “Code”) by Section 6301 of the Act, which added new Code Sections 4375, 4376 and 4377. Section 4375 applies to insurance policies, Section 4376 applies to self-insured plans and Section 4377 provides definitions and special rules applicable to the other sections.
September 10, 2012
Advisories
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July / August 2012
Publications
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This advisory discusses the Securities and Exchange Commission’s adoption of final rules under the Securities Exchange Act of 1934 to implement the provisions of Section 952 of the Dodd- Frank Wall Street Reform and Consumer Protection Act. The final rules direct the national securities exchanges to adopt certain listing standards related to the compensation committee of a company’s board of directors, as well as its compensation advisers, and require new disclosures from companies concerning their use of compensation consultants and conflicts of interest.
June 26, 2012
Advisories
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During the week of March 26, 2012, the Supreme Court heard an unprecedented three days of oral argument on the question of the constitutionality of the Affordable Care Act (ACA). With the Court’s decision expected by the end of June, the possible implications for group health plans should be considered. Of the possible outcomes of the case, the one that would create the most immediate issues for employers would be if the entire law is struck down. The precise near-term consequences will depend on a number of factors, including the details of the Court’s decision, plan terms and agency actions that may be taken in response to the decision. The implications will involve a number of plan-related aspects, including plan design and administration and tax issues.
This advisory discusses the issues that employer group health plans will be facing depending on the Supreme Court’s decision, with a particular focus on what employers will need to consider if the entire law is struck down.
June 18, 2012
Advisories
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"FATCA Made Easy?" Tax Management International Journal, Vol. 41, No. 5, May 11, 2012.
May 11, 2012
Publications
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This advisory discusses how, on May 8, 2012, the Eleventh Circuit adopted the Moench presumption of prudence in affirming the dismissal of employer-stock drop case Lanfear, et al., v. Home Depot, Inc., et al. The court likewise rejected the notion that allegedly inaccurate and incomplete public securities filings lead to plausible claims under ERISA. With these holdings, the Eleventh Circuit followed the majority of its sister courts, yet managed to keep the opinion anything but ordinary, regaling us with allusions from none other than Aesop and his famed fables.
May 10, 2012
Advisories
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"Clearing The Way For ERISA Trust Suits In 3rd Circuit," Law360, May 8, 2012.
May 8, 2012
Publications
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May 02, 2012
Advisories
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April 4, 2012
Advisories
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The Affordable Care Act (ACA) provides for a State-based transitional reinsurance program to help stabilize premiums for coverage in the individual health insurance market during the first three years of operation of the Exchanges (2014-2016). The program is designed primarily to transfer risk from the group market to the individual market. The program is funded through “contributions” from fully insured and self-insured plans. The statute sets forth the aggregate amount to be collected—$12 billion in 2014, $8 billion in 2015 and $5 billion in 2015. The aggregate amount is divided among plans subject to the fee as provided by the Department of Health and Human Services (HHS).
March 28, 2012
Advisories
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2011
Publications
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"Dividend Distributions versus Ordinary Income Inclusions: Rodriguez v. Comr.," Tax Management International Journal, Vol. 41, No. 3, March 9, 2012.
March 9, 2012
Publications
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March 7, 2012
Advisories
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February 29, 2012
Advisories
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February 15, 2012
Advisories
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In September of 2011, Michigan passed the Health Insurance Claims Assessment Act (the “Act”), which imposes a one percent tax on, among others, certain group health plan claims paid by employer-sponsored group health plans subject to ERISA. The Act is effective from January 1, 2012, through December 31, 2013.
This advisory addresses some of the basic questions regarding the Act’s application to employers who sponsor medical plans covering employees in Michigan and suggests strategies for addressing this new law with your third-party administrators.
February 13, 2012
Advisories
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The article discusses All-Payer Claims Databases (APCD) initiatives and, specifically, how these initiatives are not uniform, with various states taking different approaches to the purpose and implantation of APCDs. This presents thorny issues for those entities that are subject to the requirements of more than one APCD. In addition, the article discusses how implementation of the APCDs presents important issues concerning ERISA.
February 7, 2012
Advisories
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“Employer Stock-Drop Cases: The Second Circuit Weighs In,” Employee Benefit Plan Review, Vol. 6, No. 8 (Aspen Publishers, Feb. 2012).
February 2012
Publications
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January 25, 2012
Advisories
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January 18, 2012
Advisories
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January 12, 2012
Advisories
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"The Tax Basics of Outbound Domestic Liquidations Under §367(e)(2)," Tax Management International Journal, Vol. 40, No. 12, December 9, 2011.
December 9, 2011
Publications
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December 6, 2011
Advisories
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November 7, 2011
Advisories
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October 31, 2011
Advisories
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October 21, 2011
Advisories
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August 29, 2011
Advisories
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August 25, 2011
Advisories
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August 23, 2011
Advisories
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August 22, 2011
Advisories
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July 2011
Publications
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June 17, 2011
Advisories
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June 14, 2011
Advisories
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May 16, 2011
Advisories
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April 7, 2011
Advisories
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April 4, 2011
Advisories
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March 9, 2011
Advisories
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January 26, 2011
Advisories
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January 6, 2011
Advisories
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December 17, 2010
Advisories
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November 3, 2010
Advisories
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November 1, 2010
Advisories
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October 29, 2010
Advisories
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October 14, 2010
Advisories
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September 22, 2010
Advisories
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September 15, 2010
Advisories
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“Interim Final Rules Address Grandfathered Plan Status Under the PPACA," Benefits & Compensation Law Alert, August 2010.
August 2010
Publications
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July 27, 2010
Advisories
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July 19, 2010
Publications
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June 29, 2010
Advisories
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June 21, 2010
Advisories
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June 3, 2010
Publications
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May 13, 2010
Advisories
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10 May 2010
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May 3, 2010
Advisories
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April 30, 2010
Advisories
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April 20, 2010
Publications
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April 10, 2010
Advisories
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March 23, 2010
Advisories
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March 8, 2010
Advisories
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February 23, 2010
Advisories
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February 8, 2010
Advisories
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February 5, 2010
Advisories
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December 17, 2009
Advisories
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November 30, 2009
Advisories
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November 3, 2009
Advisories
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November 2, 2009
Advisories
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October 7, 2009
Publications
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September 9, 2009
Advisories
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July 23, 2009
Advisories
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Third Qtr 2009
Publications
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April 1, 2009
Advisories
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March 10, 2009
Advisories
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February 18, 2009
Advisories
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February 6, 2009
Advisories
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December 16, 2008
Advisories
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December 12, 2008
Advisories
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October 30, 2008
Advisories
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October 30, 2008
Advisories
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October 20, 2008
Advisories
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October 15, 2008
Advisories
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October 13, 2008
Advisories
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September 30, 2008
Advisories
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September 29, 2008
Advisories
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September 2, 2008
Publications
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August 15, 2008
Advisories
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August 15, 2008
Advisories
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July/August 2008
Publications
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Summer 2008
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June 23, 2008
Advisories
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6 March 2008
Advisories
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Spring 2008
Publications
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March 2008
Publications
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Feb 25, 2008
Advisories
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"Estoppel as a Basis for Recovery for Misrepresentation" ERISA Litigation, The Bureau of National Affairs, Third Edition (2008), Fourth Edition (2011) and the 2009, 2010, 2012 and 2013 Cumulative Chapter Supplements.
2008 - 2012
Publications
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19 December 2007
Advisories
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3 December 2007
Advisories
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13 November 2007
Advisories
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12 November 2007
Advisories
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29 August 2007
Advisories
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23 August 2007
Advisories
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1 August 2007
Advisories
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13 July 2007
Advisories
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9 July 2007
Advisories
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“Massachusetts Health Care Reform and the Cafeteria Plan Mandate,” The Self-Insurer, June 2007.
June 2007
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31 May 2007
Advisories
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“IRS Provides Further Guidance on Qualified HSA Distributions,” Benefits & Compensation Law Alert, April 2007.
April 2007
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The Consumer Driven Care Guidebook 2007, MCOL, HealthQuest Publishers, 2007.
April 2007
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"Bulletin 2007-02: President Bush's Health Proposal," Employers Council on Flexible Compensation (ECFC), January 25, 2007.
January 2007
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3 January 2007
Advisories
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"Just When You Thought It Was Safe To Catch Your Breath," Benefits & Compensation Solutions, Outlook 2007 Edition.
2007
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18 December 2006
Advisories
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14 December 2006
Advisories
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"Death, Marriage, and Taxes: Impact of Domestic Partner Coverage on HRAs and HSAs," Benefits & Compensation Law Alert, December 2006.
December 2006
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14 November 2006
Advisories
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14 November 2006
Advisories
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"Final HSA Comparability Rule Gives Employers More Freedom to Make HSA Contributions," The Self-Insurer, October 2006.
October 2006
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"Employers Have More Freedom to Make HSA Contributions" Benefits & Compensation Law Alert; Benefits & Compensation Law for Nonprofits, October 2006.
October 2006
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"Long-Awaited Electronic Benefit Card Guidance Includes Many Surprises," The Self-Insurer; Benefits & Compensation Law for Nonprofits; Benefits & Compensation Law Alert, September 2006.
September 2006
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30 August 2006
Advisories
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"Getting Back to Basics: Health Planning Fund and ERISA Plan Asset Requirements," The Self-Insurer, August 2006.
August 2006
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"IRS Expands Favorable Tax Treatment for Leave Sharing Plans," Benefits & Compensation Law Alert; Benefits & Compensation Law for Nonprofits, August 2006.
1 August 2006
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26 July 2006
Advisories
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"New IRS Guidance Clarifies Many Dependent Care Issues," Benefits & Compensation Law Alert; Benefits & Compensation Law for Nonprofits, July 2006.
July 2006
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"Do's and Don'ts of Wrap Plan Documents," The Self-Insurer, June 2006.
June 2006
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"HHS Issues Guidance on HIPAA Enforcement," The Self-Insurer, May 2006.
May 2006
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"Spring Forward with HIPAA Privacy Notices," Benefits & Compensation Law Alert, April 2006.
April 2006
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"USERRA Rules Offer Guidance on Health Plans, Military Leave," Benefits & Compensation Law for Nonprofits; Benefits & Compensation Law Alert, March 2006.
March 2006
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"HIPAA Privacy Notice Reminder Time," The Self-Insurer, March 2006.
March 2006
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6 February 2006
Advisories
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"Bush Expected to Propose Less Restrictive HSA Rules, but Tweaks Could be Tough Sell," Inside Consumer-Directed Care, January 2006.
January 2006
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"IRS Issues Guidance on Effect of FSA Grace Period on HSAs," Benefits & Compensation Law Alert, January 2006.
January 2006
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"HSA/FSA Grace Period Guidance Restricts Employer Options But Provides Limited Transition Relief," The Self-Insurer, January 2006.
January 2006
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April 2005
Publications
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25 August 2004
Advisories