WASHINGTON, November 17, 2023 — The ERISA Industry Committee (ERIC) and Employers’ Prescription for Affordable Drugs (EmployersRx), a coalition of employers formed in 2019 to advocate for policies that address the high cost of prescription drugs, along with 50 other organizations representing employers, patients, and a wide range of industry sectors, calls on Congress to pass strong pharmacy benefit manager (PBM) reforms this year to address rising health care costs.
Miscellaneous Archives:
The ERISA Industry Committee Says Congress Should Reexamine Premiums Paid by Retirement Pension Plan Sponsors
WASHINGTON – November 16, 2023 – The ERISA Industry Committee (ERIC) said today that the $44.6 billion surplus in the Pension Benefit Guaranty Corporation’s (PBGC) single-employer insurance program, detailed in the agency’s Fiscal Year 2023 Annual Report, should lead Congress to reexamine the premiums paid by companies that sponsor defined benefit pension plans.
ERIC President and CEO James Gelfand Named a Top Lobbyist of 2023
WASHINGTON, November 14, 2023 – The ERISA Industry Committee (ERIC) today announced that its president and CEO James Gelfand has been named one of the top 100 lobbyists in the U.S. by the National Institute for Lobbying & Ethics (NILE), an organization representing lobbying, public policy, and government affairs professionals.
The ERISA Industry Committee Asks Ohio Legislature to Recognize Value of Proven Biosimilar Products
WASHINGTON, November 1, 2023 – The ERISA Industry Committee (ERIC) today submitted a comment letter to the Ohio House of Representatives Insurance Committee urging the panel to amend House Bill 291 to include access to all biosimilar products, a necessary step to ensure that the bill will promote competition, and drive lower drug costs for Ohioans.
ERIC Offers Recommendations For IRS Guidance On Retirement Plan Catch-Up Contributions
WASHINGTON, October 24, 2023 – The ERISA Industry Committee (ERIC) today submitted comments on Notice 2023-62, “Guidance on Section 603 of the SECURE 2.0 Act with Respect to Catch-Up Contributions,” released by the Internal Revenue Service (IRS) on August 25, 2023.
The ERISA Industry Committee Criticizes Proposed New York State Regulations Covering Pharmacy Benefit Managers
WASHINGTON, October 18, 2023 – The ERISA Industry Committee (ERIC) submitted public comments this week expressing deep concerns with regulations proposed by the New York State Department of Financial Services in “Proposed Consolidated Rulemaking for Insurance Regulations 219, 224, and 226-229,” which would implement a state statute enacted in 2021 covering pharmacy benefit managers (PBMs) and their network practices.
The ERISA Industry Committee Submits Critical Comments on Mental Health Parity and Addiction Equity Act
WASHINGTON, October 17, 2023 – The ERISA Industry Committee (ERIC) today submitted comments to the U.S. Departments of Labor, Health and Human Services, and the Treasury in response to the Proposed Rules on the Mental Health Parity and Addiction Equity Act (“MHPAEA”). ERIC’s review of the enormous volume of complex new policy proposals, many of which reflect an overreach of agency authority under the statute, found that the rules, if finalized, would be overly burdensome to employer-sponsored health benefit plans; confusing, costly, and impossible to comply with; and subject millions of employees and their families to higher health care costs and changes to their benefit designs.
The ERISA Industry Committee Responds to House Health Care Task Force RFI With Recommendations to Reduce Health Care Spending and Address Long-Term Costs
WASHINGTON, October 16, 2023 – The ERISA Industry Committee (ERIC) yesterday submitted a letter to the Health Care Task Force of the U.S. House Budget Committee, in response to its request for information (RFI) soliciting feedback to identify policy solutions that improve health outcomes for workers and families while reducing health care spending.
The ERISA Industry Committee Urges Labor Department to Carefully Implement SECURE 2.0 Disclosure Mandates
WASHINGTON, October 10, 2023 – The ERISA Industry Committee (ERIC) today provided comments to the U.S. Department of Labor (DOL) in response to its Request for Information regarding implementation of notice and disclosure provisions in the SECURE 2.0 Act.
The ERISA Industry Committee Asks SEC to Withdraw Proposed Rule on Financial Technologies
WASHINGTON, October 9, 2023 – The ERISA Industry Committee (ERIC) today submitted a letter to the U.S. Securities and Exchange Commission (SEC) requesting the withdrawal of a proposed rule, “Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisors” (published August 9, 2023 in the Federal Register) because of the increased costs and uncertainty it will impose on employer-sponsored savings plans, as well as millions of employees who rely on those plans to save for retirement.