Dec 9, 2016
As we move towards the end of the year, I wanted to wish everyone a very Happy & Safe Holiday Season! It’s been a busy year for us and we are anxiously waiting to see what changes lay ahead for us with the President Elect and promises to reform healthcare (once again). As always, we will try to keep everyone informed with commentary around what these changes will mean to us in managing benefits. I will be in Washington DC in March with business leaders to make sure our voices are heard.
In the news this week:
Sweeping Healthcare bill passed this week: “21st Century Cures Act”. This $6.3 Billion dollar bill aims to cure ailing healthcare policies and increase funding for research into cancer and other diseases that are facing Americans. It has provisions to address our mental health systems as well as key initiatives aimed at solving problems and funding opioid drug abuse. The bill will authorize $4.8 Billion for research to the National Institute on Health (NIH) over the next 10 years. The bill gives the NIH the authority to finance high-risk, high-reward research using special procurement procedures as opposed to more conventional grants and contracts – thus taking a much different approach, with what many of us would consider “out-of-the-box” thinking, a necessity when discovering cure advancements. The bill also calls for a change in the way drugs are approved in the US, making it faster for new drugs to come to market. With the potential for a reduction in comprehensive testing, many are concerned how the balance between patient safety and product approval will unfold. Senator Mitch McConnell, Kentucky(R) and majority leader said Monday “Cutting back on bureaucratic red tape, advancing lifesaving research and tackling the scourge of cancer would move our country forward to help millions looking for more than hope, but a chance at long healthy lives.”
In my opinion? The legislation missed provisions to rein in prescription drug prices at a time when employers are faced with trying to manage skyrocketing costs that are the number one driver in coverage increases.
The President Elect made some surprise cabinet nominations this week. Of particular interest to us on the employer side, the DOL nomination of Andrew Puzder, a fast-food chain CEO. In his anti-regulation stances, he has voiced opposition to raising the minimum wage and advancing overtime pay eligibility. He supports loosening regulations for business to boast job creation and is a strong opponent of the Affordable Care act due to the cost burdens and administrative challenges it has put on employers. I know its Friday, but I am not going to say much about Linda McMahon’s nomination for Small Business Administration other than she is the former CEO of the World Wrestling Entertainment and it will be interesting to see what Saturday Night Live does with that one this week! They have no lack of material to work with these days!!
Remembering John Glenn who died this week at age 95. First American to orbit the Earth. Last of the nation’s first astronauts.
Updates below include other news updates from the past two weeks:
Posted Slides and the recording of the webinar I held in Mid November: “The Power of Data—Strengthen & Focus Your Strategies”
Link to the recording directly on YouTube: https://www.youtube.com/watch?v=Yi1aSkikj_E
Compliance Alerts Posted:
Ø New York Paid Family Leave Benefit Law changes
Ø IRS Announces 2016 PCORI Fee
Ø Agency releases guidance on Mental Health Parity and comments on Tobacco Cessation
Ø Update “Judge blocks overtime rule that was set to take place Dec 1st 2016
Marybeth
Marybeth Gray
Trion Group, a Marsh & McLennan Agency LLC
610-207-8985
mb.gray@trion-mma.com