Federal Legislative Developments

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CMS RELEASES FY 2012 PROPOSED RULE FOR HOSPITAL PAYMENTS:

The Centers for Medicare and Medicaid Services (CMS) recently released its annual inpatient prospective payment system (IPPS) proposed rule that determines Medicare reimbursements for the upcoming fiscal year. Under the proposed rule, Medicare payments to acute care hospitals for inpatient services in fiscal year (FY) 2012 would decrease by a projected $498 million, or 0.5 percent. …
Read More Healthcare Update: CMS Releases FY 2012 Proposed Rules for Hospitals and Rehab Facilities; Supreme Court Decides Not To Fast-Track Healthcare Lawsuit

FY 2012 BUDGET NEWS:

Once Congress and the White House came to an agreement on current Fiscal Year (FY) 2011 spending and averted a looming government shutdown, attention turned to the FY 2012 budget and the issue of deficit reduction. …
Read More Healthcare Update: FY 2012 Budget Details; New HHS Initiative Launches; President Signs 1099 Repeal; Providers Express Tepid Reactions to ACO Rule

On April 14, 2011, John Huff, Director of the Missouri Department of Insurance, Financial Institutions, and Professional Registration, testified before the U.S. House of Representatives Committee on Financial Services on behalf of the National Association of Insurance Commissioners (the “NAIC”) at a hearing on “Oversight of the Financial Stability Oversight Council.”  In his testimony, Director Huff was critical of the Financial Stability Oversight Council (the “FSOC”) and the U.S. Department of the Treasury (the “Treasury”). …
Read More House Hearing on FSOC: NAIC Testifies; U.S. Representatives Ask About FSOC Insurance Expertise

On April 5, 2011, the U.S. Senate approved legislation that would repeal the expanded IRS Form 1099 information-reporting requirements imposed by Section 9006 of the Patient Protection and Affordable Care Act (“PPACA”).  Having also been approved by the U.S. House of Representatives on March 3, 2011, the bill is now expected to be signed into law by President Barack Obama. …
Read More 1099 Repeal Requirement: On Its Way to the White House

As anticipated in our earlier blog post, the U.S. House of Representatives has voted on a bill that would repeal the IRS Form 1099 information-reporting requirements imposed by Section 9006 of the Patient Protection and Affordable Care Act.  On March 3, 2011 the House approved H.R. 4 – Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011. …
Read More U.S. House of Representatives Approves Repeal of 1099 Reporting Requirement

Representative Biggert (R-IL) is set to unveil draft legislation to overhaul the U.S. National Flood Insurance Program (the “NFIP”).  The NFIP provides coverage to over 5 million homes for flood damage.  It is sold through more than 90 companies that collect premiums on behalf of the Federal Emergency Management Agency (“FEMA”) for a fee.  The premiums go to FEMA and are used to pay for claims. …
Read More Overhaul for National Flood Insurance Program on the Horizon

In response to country-wide turmoil and civil unrest and growing reports of deadly attacks by the Libyan government upon protesters, on February 25, 2011, President Barack Obama by Executive Order imposed broad economic sanctions against Muammar Qadhafi and his sons, senior officials of the Libyan government, persons involved in human rights abuses in Libya, persons providing financial or other support to Colonel Qadhafi, his family, the Libyan government or those violating human rights, persons owned or controlled by or acting on behalf of any of such persons and the families of any of such persons (“Blocked Libyan Person(s)”). …
Read More President Obama imposes Sanctions on Libya

The National Association of Insurance Commissioners (“NAIC”) recently sent a letter to U.S. Treasury Secretary, Timothy Geithner, declaring that state regulators are being denied an opportunity to weigh in on decisions made by the Financial Stability Oversight Council (the “Council”) created by the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) that will likely affect large insurers. …
Read More NAIC Expresses Concern Regarding Decisions Affecting Insurers Made By Financial Stability Oversight Council

On February 17, 2011, the U.S. Senate approved legislation that would repeal the expanded IRS Form 1099 information-reporting requirements imposed by healthcare reform law.  Section 9006 of the Patient Protection and Affordable Care Act (“PPACA”) currently requires that certain payments of $600 or more to corporations be disclosed on the IRS Form 1099 starting in 2012. …
Read More U.S. Senate Approves Repeal of 1099 Reporting Requirement