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Primary Care Providers Win Challenge of CMS Interpretation of Enhanced Payment Law

With the help and support of the Tennessee Medical Association, 21 Tennessee physicians of underserved communities joined together and retained Bass, Berry & Sims to file suit against the Centers for Medicare & Medicaid Services to stop improper collection efforts. Our team, led by David King, was successful in halting efforts to recoup TennCare payments that were used legitimately to expand services in communities that needed them. Read more

Tennessee Medical Association & Bass, Berry & Sims

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Thought Leadership

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Thought Leadership Spotlight

Healthcare Transactions: Year in Review 2018Last year, CVS Health Corp. (NYSE: CVS) announced it would purchase health insurer Aetna Inc. (NYSE: AET) for $67.5 billion, a transaction that would be one of the biggest healthcare mergers in the past decade. The transaction raises an intriguing question: is this the beginning of a transformational shift in healthcare?

Recently, members of our healthcare group authored the Healthcare Transactions: Year in Review outlining 2017 M&A activity and drivers in the following hot healthcare sectors:

• Managed Care
• Hospitals
• Post-Acute Care—Home Health & Hospice
• Ambulatory Surgery Centers (ASCs)
• Healthcare Information Technology (HIT)
• Behavioral Health
• Physician Practice Management

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DOL Extends Deadline For Service Provider Fee Disclosure

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February 3, 2012

Yesterday, the U.S. Department of Labor issued final rules regarding disclosure of 401(k) retirement-plan fees by plan service providers. Under prior guidance, the effective date for the disclosures was April 1, 2012. The final regulations issued today extend this date by three months to July 1. Service providers not in compliance as of July 1, 2012, will be subject to the prohibited transaction rules and penalties of ERISA and the Internal Revenue Code.

The fee disclosure rules apply to covered service providers that work with 401(k), 403(b), and all other ERISA retirement plans, such as investment managers and prototype plan administrators. These service providers must disclose to employers the specifics about fees charged for services, including those for money management and retirement plan administration.

Employers are reminded that the final regulation’s new July 1 effective date will also affect when fee and investment disclosures must first be furnished to plan participants. The transition rule for disclosures to participants requires the disclosures to be made within 60 days of the effective date for disclosures by service providers. Consequently, employers with calendar year plans must furnish the information no later than August 30, 2012 (i.e., 60 days after the July 1 effective date). The first quarterly statement must then be furnished no later than November 14, 2012 (i.e., 45 days after the end of the quarter during which initial disclosures were first required). The quarterly statement need only reflect the fees and expenses actually deducted from a participant’s account during the quarter to which the statement relates.

If you have questions regarding the information in this client alert, or with respect to other legislation as it relates to your employee benefits plans, please contact any of the attorneys in our Employee Benefits Practice Group.


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