News & Analysis as of

U.S. Treasury Insurance Industry

Bressler, Amery & Ross, P.C.

Insurance Leaders from Various Camps Support Abolition of the Federal Insurance Office

In 2010, the Federal Insurance Office (“FIO”) was created within the United States Treasury Department by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to support uniform regulation of Insurance across the...more

Epiq

How Plaintiff and Defense Attorneys Can Protect Beneficiaries’ Finances and Health Care in MMSEA Section 111 Reporting

Epiq on

Insufficient collaboration between plaintiff and defense attorneys regarding Medicare, Medicaid, and SCHIP Extension Act (MMSEA) Section 111 reporting requirements creates administrative complications which can negatively...more

Womble Bond Dickinson

Micro-captive Insurance Reportable Transactions and the Reporting Requirements

Womble Bond Dickinson on

Certain micro-captive transactions are back to being reportable. On January 14, 2025, the Treasury Department and the Internal Revenue Service (“IRS”) published final regulations (the “Regulations”) that named some...more

Troutman Pepper Locke

OFAC Issues New and Amended FAQs ‎for the Insurance ‎Industry

Troutman Pepper Locke on

On November 13, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) amended several insurance-related Frequently Asked Questions (“FAQs”) (61, 62, 63, 64, 65, 68, 69, 102, 103, and 104) as...more

ArentFox Schiff

Health Care Provider Loses Tax-Exempt Status in Fifth Circuit Decision

ArentFox Schiff on

On October 28, the US Court of Appeals for the Fifth Circuit held that a nonprofit corporation that coordinates health care for privately insured patients does not qualify for tax exemption under Section 501(c)(4) because it...more

ArentFox Schiff

No More Surprise Medical Bills: Fifth Circuit Affirms Vacatur of Arbitration Provisions of Surprise Billing Rules (TMA II)

ArentFox Schiff on

On August 2, health care providers scored yet another significant victory when the US Court of Appeals for the Fifth Circuit affirmed the vacatur of various federal regulations regarding the arbitration procedures used to...more

McDermott Will & Emery

Six Wishes for the Forthcoming Final Regulations Under MHPAEA

McDermott Will & Emery on

On July 1, 2024, the US Department of Labor (DOL) submitted final regulations to the Congressional Budget Office (CBO), implementing the Mental Health Parity and Addiction Equity Act (MHPAEA) as most recently amended by the...more

Eversheds Sutherland (US) LLP

United States Treasury Department-approved surety bond insurers: Will you be ready to take advantage of the new reduced collateral...

What You Need to Know About the New Classes of Treasury-Authorized Reinsurers in Advance of the August 9, 2024 Implementation Date - As we reported in our June 24, 2024 Legal Briefing, the US Department of the Treasury...more

Eversheds Sutherland (US) LLP

US Treasury Department announces initiatives for further study of a federal insurance backstop for catastrophic cyber events

On November 17, 2023, the United States Treasury Department’s Federal Insurance Office (FIO) and the Volatility and Risk Institute at the NYU Stern School of Business jointly hosted a conference on Catastrophic Cyber Risk and...more

McDermott Will & Emery

Short-Term, Limited Duration Insurance: How Long is Too Long?

McDermott Will & Emery on

On July 7, 2023, the US Departments of Health and Human Services, Labor, and Treasury (collectively, the departments) released a Notice of Proposed Rulemaking (NPRM) and Fact Sheet that proposes to revise the definition of...more

Brownstein Hyatt Farber Schreck

Treasury’s FIO Releases Report: ‘Insurance Supervision and Regulation of Climate-Related Risks’

The Treasury Department’s Federal Insurance Office (FIO) released a report on June 26 calling on state regulators to refine efforts to evaluate climate change risks in insurance markets. The report comes amid some insurers...more

Zuckerman Spaeder LLP

Whither Insurance Coverage for Preventive Health Services? District Court Decision Striking Down Affordable Care Act’s Preventive...

Zuckerman Spaeder LLP on

On May 15, 2023, the Fifth Circuit temporarily stayed a district-court ruling that struck down a key part of the Affordable Care Act (ACA). As a result of the stay, the ACA’s health insurance coverage requirements for...more

Eversheds Sutherland (US) LLP

Charting a course: Guidance issued to help navigate potential issues for insurance industry with the corporate alternative minimum...

On February 17, 2023, the Department of Treasury (Treasury) and the Internal Revenue Service (the IRS) issued Notice 2023-20 (the Notice), to provide guidance that is intended to help avoid unintended adverse consequences to...more

McDermott Will & Emery

Weekly IRS Roundup February 13 – February 17, 2023

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 13, 2023 – February 17, 2023. ...more

Verrill

A Last-Minute Gift – Prescription Drug Reporting Grace Period and Good Faith Relief

Verrill on

In a move akin to last-minute gift-giving, the Departments of Labor, Health and Human Services, and the Treasury (the “Departments”) released FAQ 56 on December 23, 2022, which provides relief regarding the Prescription Drug...more

Troutman Pepper Locke

U.S. Treasury to Review Climate Change Effects on Insurance Availability

Troutman Pepper Locke on

Concerned about anecdotal evidence of diminishing availability of property insurance coverage in areas subject to disasters exacerbated by climate change, the Treasury Department announced on Thursday, June 7, that it is...more

Eversheds Sutherland (US) LLP

Treasury publishes highly-anticipated notice of proposed rulemaking to update credit for reinsurance rules for Treasury-listed...

The US Department of the Treasury (Treasury), Bureau of the Fiscal Service (Fiscal Service) has published a Notice of Proposed Rulemaking relating to the federal regulations governing the corporate Federal surety bond program...more

Faegre Drinker Biddle & Reath LLP

Federal District Court Invalidates Some Surprise Billing Rules: What It Means for the No Surprises Act

On February 23, 2022, the United States District Court for the Eastern District of Texas invalidated portions of Part II of the interim final rule (“IFR”) issued by the U.S. Departments of Health and Human Services, Labor,...more

Bradley Arant Boult Cummings LLP

Federal Agencies Release Interim Final Rule to Implement the No Surprises Act

Today, the Departments of Health and Human Services (HHS), Labor, and Treasury (the Departments) published an interim final rule (the Interim Final Rule) implementing certain provisions of the No Surprises Act,[1] which aims...more

Sheppard Mullin Richter & Hampton LLP

New Guidance on Health Plans’ COVID-19 Coverage Obligations

On February 26, 2021, the Departments of Labor, Health and Human Services (HHS), and the Treasury issued Frequently Asked Questions (FAQs) on the implementation of the Families First Coronavirus Response Act (“FFCRA”), the...more

Holland & Hart - Health Law Blog

Free COVID-19 Vaccines and Diagnostic Testing

Over a year after the declaration of a nationwide public health emergency due to the Coronavirus Disease 2019 (“COVID-19”) pandemic, providers are in a position to offer patients a variety of COVID-19 medical services,...more

Morrison & Foerster LLP

Following U.S. Lead, UK Office Of Financial Sanctions Implementation Issues Maritime Guidance

Much of the world’s focus is on the COVID-19 pandemic, and rightfully so, but sanctions regulators also have their gazes fixed on another issue: the maritime industry. On May 14 2020, we saw the U.S. Departments of State and...more

King & Spalding

Insurers Now Offering PPP Loan Insurance

King & Spalding on

As additional and conflicting guidance on Paycheck Protection Program (PPP) loans is released by the Small Business Administration (SBA), uncertainty about eligibility and loan forgiveness has persisted. In connection with...more

ArentFox Schiff

New Legislation: The Pandemic Risk Insurance Act of 2020

ArentFox Schiff on

Congressional Rep. Carolyn Maloney of New York has introduced a bill, H.R. 7011, titled the Pandemic Risk Insurance Act of 2020 (the Act). The purpose of the Act is to establish a Federal program, including a Pandemic Risk...more

McDermott Will & Emery

Federal Pandemic Risk Reinsurance Program: Updated Discussion Draft of Proposed Legislation

McDermott Will & Emery on

As proposed legislation to establish a Federal Pandemic Risk Reinsurance Program remains under review by the US House of Representatives’ Financial Services Committee and Oversight and Reform Committee, a number of...more

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