Legal Update: Deadline Reminder: RxDC Reports Are Due by June 1, 2024
Group health plans and health insurance issuers must annually submit detailed information on prescription drug and health care spending to the federal government. This reporting is referred to as the “prescription drug data collection” (or “RxDC report”). This is an annual reporting requirement—plans and issuers must submit these reports by June 1 of each year, covering information for the prior calendar year.
The next RxDC report is due by Saturday, June 1, 2024, covering data for 2023.
Employers should confirm they are taking steps to comply with this reporting
deadline, such as providing information to third-party vendors on a timely basis.
Legal Update: IRS Announces Excepted Benefit HRA Limit for 2025
The IRS has released the inflation-adjusted limit for excepted benefit health reimbursement arrangements (EBHRAs) for plan years beginning on or after Jan.1, 2025. Effective for 2025 plan years, the maximum annual employer contribution for an EBHRA will increase to $2,150 (up from $2,100 for plan years beginning in 2024).
Legal Update: DOJ Releases Proposed Rule to Ease Federal Restrictions on Marijuana
On May 16, 2024, the U.S. Department of Justice (DOJ) announced a proposed rule that would reschedule marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA). This rescheduling would ease federal restrictions on marijuana and limit punishment for those in possession of marijuana.
Legal Update: DOL Issues Guidance on AI-Related Wage and Hour Risks
On April 29, 2024, the U.S. Department of Labor’s (DOL) Wage and Hour Division (WHD) published Field Assistance Bulletin (FAB) No. 2024-1 on the use of artificial intelligence (AI) in the workplace.
The FAB follows a statement released by the White House announcing key AI-related actions following President Joe Biden’s executive order issued on Oct. 30, 2023, on establishing standards for AI safety and security.
Legal Update: EEOC Opens EEO-1 Reporting Portal for 2023 Workforce Data
The portal for private sector employers to submit equal employment opportunity workforce data (EEO-1 Report) from 2023 to the U.S. Equal Employment Opportunity Commission (EEOC) has opened as of April 30, 2024.
The deadline for submissions is June 4, 2024. This data collection was previously delayed.
Legal Update: HHS Final Rule on Nondiscrimination in Health Programs and Activities
On April 26, 2024, the U.S. Department of Health and Human Services’ (HHS) Office of Civil Rights (OCR) issued a final rule under Section 1557 of the Affordable Care Act, which prohibits discrimination based on race, color, national origin, sex, age or disability in certain health programs and activities.
Legal Update: FTC Announces Rule Banning Noncompetes
On April 23, 2024, the Federal Trade Commission (FTC) voted to issue a final rule that would ban noncompete agreements in virtually all employment relationships. The final rule has not yet been filed in the Federal Register, but is scheduled to take effect 120 days after such filing.
Legal Update: DOL Announces Final Overtime Rule Increasing Salary Levels for White-collar Employees
On April 23, 2024, the U.S. Department of Labor (DOL) announced a final rule to amend current requirements employees in white-collar occupations must satisfy to qualify for an overtime exemption under the Fair Labor Standards Act (FLSA).
The final rule will take effect on July 1, 2024.
Legal Update: CMS Status Update on Advanced Explanation of Benefits Implementation
On April 23, 2024, the Centers for Medicare and Medicaid Services (CMS) provided a status update on the progress it is making toward implementation of the advanced explanation of benefits (AEOB) transparency provision of the Consolidated Appropriations Act (CAA). While the AEOB requirement was originally effective in 2022, federal agencies delayed the requirement for plans and issuers to provide AEOBs until implementation rules could be issued.
Legal Update: DOL Issues Final Retirement Security Rule and Related Amendments to PTEs
On April 23, 2024, the U.S. Department of Labor (DOL) issued a final retirement security rule updating the definition of an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA). The DOL also separately released amendments to class prohibited transaction exemptions (PTEs) available to investment advice fiduciaries.
The final rule and amendments to the PTEs generally take effect on Sept. 23, 2024.
Client and Employee Resources
The more your employees understand your benefit plans the more they become educated, empowered consumers. The programs you provide will also gain an enhanced value.
As your strategic partners in employee benefits, we can provide multiple avenues of ongoing support, including:
- Employee Meetings (English and Spanish)
- Webcasts
- Payroll Stuffers
- Poster Campaigns
- Newsletters
Carrier Directories
E-Verify is a web-based system that allows enrolled employers to confirm the eligibility of their employees to work in the United States. Click the image below to begin.
