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THE ERISA INDUSTRY COMMITTEE

THE ERISA INDUSTRY COMMITTEE. Washington Update Call November 2, 2015. Participation Procedure. Procedure for audience participation Audience will be in a “listen-only” mode If you wish to ask a question or make a comment, please press *6 on your telephone to “un-mute” your telephone.

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THE ERISA INDUSTRY COMMITTEE

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  1. THE ERISA INDUSTRY COMMITTEE Washington Update Call November 2, 2015

  2. Participation Procedure • Procedure for audience participation • Audience will be in a “listen-only” mode • If you wish to ask a question or make a comment, please press *6 on your telephone to “un-mute” your telephone. • After speaking, please press *6 again to re-enter “listen-only” mode.

  3. ERIC’s Antitrust Policy As a reminder, all ERIC meetings and activities are to be conducted in full compliance with the ERIC Antitrust Policy.  The antitrust laws prohibit competitors from agreeing on prices to be charged or otherwise taking steps that harm free and fair competition among them.  While ERIC’s primary mission and activities are entirely consistent with the antitrust laws, if you have any concerns about a particular topic or discussion, please raise it with ERIC staff.

  4. Washington Update Call Agenda Welcoming Remarks Hill Briefing: James Brandell, Dykema Retirement Update Health Update Telehealth Update Concluding Remarks & Questions

  5. RETIREMENT

  6. Retirement: Legislative Update HR 1314 – Round I • Flat rate premium increases; variable rate increases– single employer • 2016 - $64/participant; $30/$1000 underfunding • 2017- $68/participant; $32/$1000 underfunding • 2018 - $73/participant; $35/$1000 underfunding • 2019 - $78/participant & indexed; $38/$1000 underfunding

  7. Retirement: Legislative Update HR 1314 – Round II • Flat rate premium increases; variable rate increases– single employer • 2016 - $64/participant; $30/$1000 underfunding • 2017- $69/participant; $33/$1000 underfunding • 2018 - $74/participant; $37/$1000 underfunding • 2019 - $80/participant & indexed; $41/$1000 underfunding

  8. Retirement: Legislative Update Funding Stabilization • Round I: extend 10% collar through 2019 • Round II: extend 10% collar through 2020

  9. Retirement: Legislative Update 2 other pension provisions • Payment date for premium payments moved up from 10th month to 9th month ONLY for 2025 – budget “gimmick” • Mortality tables – ability to use alternative table under new definition of “credible information”

  10. Retirement: Legislative Update • Passed House October 28 • Senate schedule • Next steps

  11. Retirement: Regulatory Update Treasury Department/IRS • Proposed rule on DOMA; comments due December 7th • The terms “husband and wife” are to be applied neutrally to marriages involving partners of either sex/gender and apply to two individuals lawfully married to each other. 

  12. Retirement: Regulatory Update Treasury Department/IRS • Hybrid Plan Regulations (effective on 01/01/16); proposed rules on transition rules – extension announcement? • PEP plan rules • No time frame on mortality tables • Rules on frozen defined benefit plans and nondiscrimination testing update- coming soon

  13. Retirement: Regulatory Update Treasury/IRS Notice 2015-49: Bans Lump Sum Windows to Participants in Pay Status • Notice states IRS is planning to amend rules to Section 401(a)(9) to limit such transactions • Effective July 9, 2015 • ERIC drafting a comment letter in response

  14. Retirement: Regulatory Update Department of Labor: Definition of Fiduciary Proposed Rule (released on 04/16/15) • Comment period closed as of September 24 • HR 1090 Retail Investor Protection Act passed by House- would prohibit DOL from finalizing regulations until SEC moves forward on fiduciary • Letter circulating by Rep. Polis (D-CO) to require DOL to release regulations for a shortened review period

  15. Retirement: Regulatory Update Rules implementing White House initiative on state plans for participants not covered by an employer plan 2 prong approach • Payroll deduction IRAs • Multiple employer plans

  16. Retirement: Regulatory Update Department of Labor: Other Issues in the Queue • Lifetime Income & Benefits Statements • Brokerage window regulations

  17. Retirement: Regulatory Update ERIC Survey on Closed Defined Benefit Plans • Member-requested survey • Circulated this week • Results to be used as part of lobby campaign

  18. Retirement: Regulatory Update PBGC • Tom Reeder confirmed as Executive Director • Attended ERIC reception at Fall meetings

  19. HEALTH

  20. Balanced Budget Act • House and Senate have both approved • President will sign (today?) • Notable health provisions • Erases ACA auto enrollment provision • Significantly cuts slated increase in Medicare Part B premiums for higher-income people • Generic drug companies must also pay rebate if drug prices outpace inflation • Social security disability fund • Robbing Peter to pay Paul

  21. Congress Tackles the ACA • Reconciliation bill has passed the House • Would dismember the ACA • Repeal individual mandate • Repeal employer mandate • Repeal 40% excise tax • Repeal medical device tax • Repeal auto-enrollment • De-fund Planned Parenthood • Route through Senate will be rockier • Expect action by Thanksgiving • President has promised a veto

  22. EEOC Addresses GINA • Proposed regulation permits incentives for spouses of employees to provide current and past health info, but not genetic info • But does not extend rule to non-spousal dependents • Incentives OK up to 30% of cost of family coverage • Applies to financial and in-kind incentives • Fingers crossed that this rule will also be added to ADA regs • BUT must apportion between employee and spouse • Employee’s share limited to 30% of cost of employee-only coverage • FocusOn call to discuss this Thursday, November 12 • ERIC will be submitting a comment letter

  23. HHS Proposed Rule on Nondiscrimination • Key areas of proposed regulation • Discrimination on basis of gender identity • Communication with individuals of limited English proficiency • ERIC comment letter – key points • The nondiscrimination rule should not apply to a group health plan merely because the plan’s TPA receives federal financial assistance. • For employers not in health business, rule should apply only to specific health program receiving federal funds • For employers not in health business, rule should not apply to the employer’s plan solely because the employer receives Federal money with respect to other health-related activities • Employer group health plans should not be subject to additional language-assistance requirements because they are unnecessary and inconsistent with the legal protections already provided • Final rule should not apply before the first plan year beginning at least twelve months after it is published

  24. New ACA FAQ on Preventive Services • 13 new questions & answers applicable to non-grandfathered plans • Wellness • Non-financial rewards to participants in health-contingent wellness programs will be subject to ACA wellness regs • Mental health parity • Medical necessity information must be disclosed, regardless of proprietary nature • Preventive services • Lactation support; weight management; colonoscopies; genetic counseling

  25. Onsite Medical Clinics • Trying to develop a paradigm to exclude onsite/near-site medical clinics from reach of ACA 40% excise tax • Circulated results of ERIC survey • Task Force is working on refining paradigm • PLEASE let me know if you would be willing to join in this effort!

  26. TELEHEALTH

  27. Telehealth – Federal Update • Veterans E-Health & Telemedicine Support Act of 2015 (VETS Act) • S. 2170 Introduced by Sen. Ernst on October 8, 2015 • Allows licensed providers – who are authorized to provide services by the Dept. of Veteran Affairs – to treat patients via telemedicine • Addresses workforce shortage issues and licensing restrictions that otherwise hinder access to telemedicine

  28. Telehealth – State Update • Arkansas State Medical Board • ERIC submitted another letter to the Board in response to proposed rules; the Board will meet on November 4th to discuss the proposed rules and comments • Rules are moving towards a more favorable environment for telemedicine • Wisconsin Medical Examining Board • Taking the first steps towards issuing telehealth regulations • Preliminary draft rules are circulating

  29. Telehealth – State Update, cont. • Massachusetts • Becoming more active with recent hearings on proposed bills with a growing coalition (TMed) in the state to push 2016 telehealth legislation • New Jersey • Emerging as a high-priority state for telemedicine activity in 2016 • Learned that there will be targeted outreach early next year to embed amendments in current legislation to make it more favorable to telehealth

  30. Telehealth Task Force • Interested in learning more about telehealth? • ERIC’s Telehealth Task Force includes: • Biweekly newsletters • Regular calls on the latest telehealth issues • Additional educational resources and meeting opportunities • Contact Allie Wils to become part of ERIC’s Telehealth Task Force (awils@eric.org; 202/627-1925)

  31. Upcoming ERIC Calls • Benefits Litigation Update • With Epstein Becker Green • Tuesday, November 10, 2:00 p.m. - 3:30 p.m. ET • FocusOn call: A Review of the EEOC Proposed Regulation on GINA • Thursday, November 12, 2:00 p.m. - 3:30 p.m. ET • Third Thursday Call of ERIC’s Health Policy Committee • Thursday, November 19, 4:00 p.m. - 5:00 p.m. ET • FocusOn call: Financial Wellness • Thursday, December 3, 2:00 p.m. - 3:30 p.m. ET • Washington Update Call • Monday, December 7, 11 a.m. - Noon ET

  32. Upcoming ERIC Meetings • Government Relations Strategy Meeting • Monday, November 16 from 3:00 p.m. - 4:00 p.m. ET • Location: ERIC’s Offices in Washington, DC • Spring 2016 Committee & Membership Meetings • Tuesday, May 3, and Wednesday, May 4 • Location: Washington, D.C.

  33. To Receive ERIC Updates • If you were forwarded this email from another person in your company but would like to receive your own copy of our emails in the future, please let us know by going to the ERIC website (www.eric.org)and clicking on “Register New User” in the upper-right hand corner; OR • Send an email to memberservices@eric.orgwith your contact information and company name, and indicating which mailing lists you would like to join:  health, retirement, legal, or any combination of these. 

  34. Contact Information • Annette Guarisco Fildes, CEO & President • aguariscofildes@eric.org • (202) 627-1910 • Gretchen Young, Senior Vice President for Health Policy • gyoung@eric.org • (202) 627-1920 • Kathryn Ricard, Senior Vice President for Retirement Security • kricard@eric.org • (202) 627-1930 • Allison Wils, Director of Health Policy • awils@eric.org • (202) 627-1925 • Main Line: (202) 789-1400

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