Last month, McDermott partner Jeffrey M. Holdvogt was a speaker at the ERIC March Financial Wellness Huddle on the topic of Recent Developments in Employer Student Loan Repayment Benefits. His presentation covered:
The combination of the Coronavirus (COVID-19) pandemic and the imminent end of the Brexit transition period means a fast-changing regulatory environment for medicines.
In October 2020, the UK Government made changes to the regulation of medicines for COVID-19 and influenza. The regulations set out changes for the temporary authorisation of medicines (including COVID-19 vaccines) and allow the UK Medicines and Healthcare Products Regulatory Agency (MHRA) to set conditions for that authorisation.
The federal government has taken major steps to boost insurers’ coverage of mental health and substance abuse treatment in recent years, and with the confirmation of former California Attorney General Xavier Becerra to lead the U.S. Department of Health and Human Services, that trend will likely continue.
As teleworking evolves from necessity to norm, companies with long-term remote workers abroad are facing the expiration of countries’ taxation grace periods—offered at the start of the novel coronavirus pandemic—and, in their place, potentially nebulous cross-border tax complications.
In a recent article for Law360, McDermott partner David Noren discusses employer tax considerations related to remote workforces.
The US Department of Labor’s decision last month to table Trump-era regulations limiting socially conscious investments by retirement plans signals that the Biden administration is considering an embrace of so-called ESG funds, which attempt to advance environmental, social and corporate governance goals.
Tabling these regulations brings “the Department of Labor into alignment with the desire of not just plan fiduciaries, but more notably, the actual plan participants to use their retirement assets in a socially conscious manner,” McDermott partner Erin Turley said in an article for Law360.
Political divisiveness on Capitol Hill, a focus on impeachment activity and financial relief for the COVID-19 pandemic—as well as delays in confirming President Joe Biden’s nominees for cabinet and subcabinet positions—so far have caused a slowdown in the new administration’s ability to make sweeping changes affecting healthcare.
In an article for Pharmacy Practice News, McDermott partner James Kim discusses key issues to watch from Congress and the White House in 2021.
New guidance streamlines the methods for calculating withdrawal liability for multiemployer union pension plans that have adopted benefit reductions, benefit suspensions, surcharges or contribution increases—a common occurrence with underfunded multiemployer pension plans.
On February 18, 2021, the Internal Revenue Service (IRS) issued clarifying guidance on the temporary special rules for health flexible spending arrangements (FSAs) and dependent care assistance programs (DCAPs). This provides welcome guidance regarding the application of cafeteria plan relief provided by the Consolidated Appropriations Act (CAA).
The challenges of the past year have underscored the importance of life sciences to a dramatic degree. With countries worldwide now distributing vaccines that were developed in record time, COVID-19 has also made plain the value of investing in technological and scientific solutions that can reshape the world and improve health outcomes.
The pandemic has particularly accelerated investments in the digital health space, as a significant share of everyday life has migrated to computer screens by necessity. So what does this mean for the sector going forward?
Writing for MPO Magazine, McDermott partner Steve Bernstein shares five themes to watch in the digital health sector, including what life sciences developers and investors should know about the current deal-making landscape.
On March 10, 2021, US Congress finalized and passed the American Rescue Plan of 2021 (ARPA), the latest COVID-19 relief package that largely tracks President Joe Biden’s initial $1.9 trillion proposal. The ARPA extends unemployment insurance benefits and provides direct $1,400 stimulus payments to qualifying Americans, but it also makes several important health policy-related changes. These include providing funding for vaccine distribution and testing to combat the COVID-19 pandemic, making policy adjustments to the Medicaid program, facilitating health insurance coverage and providing more money for healthcare providers. The final bill also makes two narrowly focused technical Medicare payment changes.
This summary highlights notable health policy provisions of the final bill.
For more information, please contact Meg Gilley, Mara McDermott, Kristen O’Brien, Katie Waldo, Rodney Whitlock or Eric Zimmerman.
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