Regulatory Updates
Regulatory Updates provide quick access to employee benefit regulations, rulings and other guidance released by governmental agencies in the U.S. and Canada.
New updates to this page may be included in Today’s Headlines which is emailed to International Foundation members each business day. Inquiries regarding these updates should be directed to the Benefits Knowledge Center at the International Foundation at (888) 334-3327, option 5 or [email protected].
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IRS Requests Extension of Revised Information Collection on Grandfathered Health Plans; Comments Due December 11
Oct 9, 2023, 05:00
by
Tyler Lloyd
The Internal Revenue Service (IRS) issued a notice
soliciting comments concerning the burden associated with the rules for
group health plans and health insurance coverage relating to status as a
grandfathered health plan under the Patient Protection and Affordable
Care Act (ACA).
The notice:
- Contains
final regulations regarding grandfathered health plans, preexisting
condition exclusions, lifetime and annual dollar limits on benefits,
rescissions, coverage of dependent children to age 26, internal claims
and appeal and external review processes, and patient protections under
ACA; and
- Finalizes changes to the proposed and interim final rules based on comments and incorporates sub regulatory guidance issued since publication of the proposed and interim final rules.
Adjustments
to the burden estimates result from updated estimates on the number of
grandfathered group health plans and increases in wage and postage
rates. The updated data inputs reduce the hour burden by 1,550 hours
compared with the prior submission and reduce the cost burden by
$241,267 compared with the prior submission.