The Washington Report

February 21, 2024

Note to Subscribers

While we do our best to provide timely updates, it is possible that the information shared in the newsletter may change after our publication deadline.

Health

 

CMS Issues Part Two Draft Guidance for Medicare Prescription Payment Plan
On February 15, 2024, the Department of Health and Human Services’ Centers for Medicare & Medicaid Services (CMS) released the second part of draft guidance for the Medicare Prescription Payment Plan that outlines requirements for Medicare Part D plan sponsors, including outreach and education requirements, pharmacy processes, and operational considerations. The Medicare Prescription Payment Plan, which goes into effect in 2025, is part of the Inflation Reduction Act’s suite of provisions aimed at lowering prescription drug and health care costs. Among other provisions, the draft guidance allows seniors and individuals with disabilities with Medicare prescription drug coverage to pay out-of-pocket costs over the course of a year. The part two draft guidance also provides information on outreach, education, and communications requirements. Comments are due by March 16, 2024.

The news release is available here.

The part two draft guidance is available here.

The fact sheet on the part two draft guidance is available here.

An implementation timeline for the Medicare Prescription Payment Plan is available here.

The part two draft guidance builds on the previously released part one draft guidance (August 2023), available here and the part one Fact Sheet, available here.

Other HR/Employment

 

DOL Releases Updated Equity Action Plan
On February 15, 2024, the Department of Labor (DOL) released its updated Equity Action Plan to support the administration’s advancement of racial equity through executive orders and other federal mechanisms. The DOL developed five areas of focus for its 2023 Equity Action Plan update:

• Supporting workers, including those in the Southeast United States.
• Ensuring underserved communities have access to good jobs.
• Embedding gender equity into partnerships and services.
• Improving services for individuals with limited English proficiency.
• Evaluating procurement practices to advance equity, including to support small, disadvantaged businesses such as Black- and women-owned businesses.

The 2023 Equity Action Plan update is available here.

Aon Publications

 

Now Available: Legal Consulting & Compliance Quarterly Update
The Retirement Legal Consulting & Compliance practice is pleased to present its Quarterly Update of recent legal developments for the first quarter of 2024. In this issue you will find the following articles:

• The Aon PEP Gathers Steam
• Litigation Challenges Use of Forfeitures
• IRS Issues Clarifying Guidance on SECURE 2.0
• No More Blues: Guidance on Recent Legislation
• It's Been a Long-Term, Part-Time Coming for Employees: Who?
• It's Been a Long-Term, Part-Time Coming for Employees: Testing 1, 2, 3
• New IRS Guidance for Pre-Approved Plans
• Quarterly Roundup of Other New Developments
• Hot Topics: Recent Aon Publications
• Recent Publications

The first quarter 2024 issue of the Retirement Legal Consulting & Compliance Aon Quarterly Update is available here.