Just-released Department of Labor final regulations treat a wider range of investment recommendations -- including HSAs, Archer MSAs, and Coverdell education savings accounts -- as fiduciary investment advice. The regulations exempt health, disability, and term life insurance policies that do not include an investment component. The new rule sets aside 40-year-old regulations that DOL believes fail to protect participants from investment advice skewed by undisclosed conflicts of interest.
Medicare Advantage plans will see an average rate increase of 0.85% in the final rate notice released April 4, which is slightly lower than the increase proposed by the Center for Medicare and Medicaid Services (CMS) in February. For employer group waiver (EGWP) plans, CMS intends to move forward with its proposal to link employer plan payments to individual market bids and will provide a two-year transition for employer-sponsored plans.
On Capitol Hill, a House Republican Health Care Reform Task Force is developing a plan to repeal and replace the ACA. The plan is expected to include a proposal to cap or eliminate the employee tax exclusion for employer-provided coverage to help pay for new tax credits to help individuals buy health insurance. The House Ways and Means Committee will hold an April 14th hearing on taxes and health care.