KMK Law Management Rights Blog

By July 31, 2019, health insurance policy issuers and sponsors of self-insured health plans must report and pay the annual PCORI fee on Form 720. The good news is that the PCORI fee is only effective for policy and plan years ending after Sept. 30, 2012, and before Oct. 1, 2019, meaning that the July 31, 2019 payment will be the last PCORI payment for plan years ending in October, November and December 2018. (A July 2020 PCORI payment will still be due for those plans with plan years ending from January 2019 through September 2019.) The amount of the PCORI fee is equal to the average number of ...

Are you responsible for the actions of the prior members of the retirement plan committee? Fiduciaries have a duty to remedy the continuing effect of their predecessors’ breach if they know of the breach. But what type of knowledge is required for liability to attach? In Fuller v. SunTrust Banks, Inc., a federal court evaluated whether actual or constructive knowledge is sufficient. The court found that successor fiduciaries must have actual knowledge of their predecessors’ breach to be held liable. In so finding, the court rejected plaintiffs’ reliance on ...

Effective July 17, 2019, the IRS expanded the list of preventive care benefits permitted to be provided by an HDHP without a deductible, as described in IRS Notice 2019-45. The expanded list is in response to President Trump’s Executive Order 13877 which called for guidance to expand the ability of patients to select HDHPs used alongside HSAs that cover low-cost preventive care to help maintain health status for individuals with chronic conditions. The new guidance signifies a departure from prior guidance which generally did not treat benefits intended to treat existing ...