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About this Blog

Welcome to the Snell & Wilmer Benefits Blog. We will be posting about current employee benefits and executive compensation topics and issues. We invite you to contact the authors with your thoughts or questions.

Perplexed and the Fiduciary Committee – PBM Edition

I read the Lewandowski v. Johnson & Johnson class action complaint and couldn’t help but wonder – are plans and participants doomed, or can employers take proactive steps to satisfy their fiduciary duties and potentially reduce prescription drug costs under their plans?  Although there is no one-size-fits-all approach, a plan fiduciary should understand what their pharmacy […]

| 5 min read

The 2024 HIPAA Privacy Reproductive Health Care Regulations – Five Takeaways for Group Health Plans

On April 26, 2024, the Office for Civil Rights (“OCR”) at the U.S. Department of Health & Human Services (“HHS”) published a final rule to amend the HIPAA Privacy Rules to support reproductive health care privacy (the “Reproductive Health Care Rules”).  The Agency also issued a Press Release, Fact Sheet, and Message from the Director […]

| 4 min read

Things Every Employer Should Know About Pension-Linked Employee Savings Accounts (PLESAs)

In the wake of recent developments, we are pleased to provide insights into Pension-Linked Employee Savings Accounts (PLESAs) under the Secure 2.0 Act.  PLESAs are short-term savings accounts that are established and maintained within a defined contribution plan.  The legislative intent of a PLESA is to allow low- and middle-income employees to use payroll deductions […]

| 2 min read

Taking the Off Ramp: IRS Opens Limited Program To Return Wrongly Received Employee Retention Credits

By Matthew P. Chiarello and Carlene Y. Lowry The IRS continues to evaluate and process Employee Retention Credit (“ERC”) claims with a focus on inaccurate and ineligible filings. Among its efforts to police the ERC program, the IRS announced a new initiative that permits taxpayers to return ERCs to which the employer is not entitled […]

Certain Information Statements for ISOs and ESPPs Due by January 31, 2024

As reported in Part 4 of our 2022 End of Year Plan Sponsor “To Do” List,  Section 6039 of the Internal Revenue Code (the “Code”) requires employers to provide a written information statement to each employee or former employee and file information returns with the IRS regarding: (1) the transfer of stock pursuant to the exercise […]

| 1 min read | Tagged: , , , , , , , , ,

Updated Glass Lewis Proxy Voting Guidelines (Clawbacks)

I previously blogged about the New York Stock Exchange and Nasdaq listing standards that require issuers to adopt compliant clawback policies by December 1, 2023. While many issuers may have already adopted clawback policies that satisfy the minimum legal requirements to comply with the law, recent guidance from Glass Lewis may prompt these issuers to […]

| 1 min read

Enforcement Back On: Departments Rescind Enforcement Relief for Machine Readable File Requirements under Transparency in Coverage Rules

On September 27th, the Departments released FAQs about Affordable Care Act Implementation Part 61 (“FAQ 61”), announcing that the Departments are rescinding prior-issued enforcement relief for certain machine-readable file requirements under the Transparency in Coverage (the “TiC”) regulations. The final TiC regulations, published in the Federal Register on November 12, 2020, in part required group […]

| 3 min read

Tighter Margins: IRS Makes It More Difficult to Meet ACA Affordability Safe Harbors in 2024

We have reported previously on the importance of understanding the coverage and reporting rules of the Affordable Care Act.  In particular, Code Section 4980H imposes penalties on large employers for failure to offer minimum essential coverage to 95% or more of their full-time employees (and dependents) or to provide affordable, minimum value health insurance. Whether […]

| 2 min read