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At the committee level, there is a lot of bipartisan activity for health care reform for 2023 that includes PBM reforms and insulin caps in the commercial market, as well as regulatory guidance on the new retirement bill SECURE 2.0.
The study said that 53% of respondents said their ACA compliance requirement were overly burdensome, 21% said the requirement were somewhat burdensome.
The mandatory SECURE 2.0 provisions that must be implemented within the next two years are generally action items for human resource and benefits professionals, benefits committees, and recordkeepers.
The National Federation of Small Business is urging Congress to expand access to HSAs and HRAs and expand tax credits to small businesses in order to level the playing field between large and small employers.
Qualified Small Employer Health Reimbursement Arrangements don't have expensive premiums, annual rate hikes, or restrictive participation requirements.
The agency has increased employer mandate penalties under the Affordable Care Act for non-compliant large employers (50+ employees) that fail to offer affordable health coverage to 95% of its staff.
While the new retirement law offers unique opportunities for employers, companies need to consider how much value employees will place on the new savings vehicles, such as automatic enrollment and emergency savings.