|Employers Given Additional Year to Comply with Health Care Coverage Rules|
In early July, the Department of the Treasury announced that it will delay until 2015 enforcement of the employer penalty, as well as detailed employer and insurer reporting requirements, under the Patient Protection and Affordable Care Act. The delay will allow more time for data collection, reporting systems testing, and stakeholder feedback before issuing final standards.
ED Publishes 2013 College Cost Watch ListsThe Department of Education has released the third edition of its “College Cost Watch Lists,” which spotlight institutions with the highest and lowest tuition and net prices, as well as those with the highest percentage increases in those categories.
Rules Provide Transition Year for Self-Funded Student Health PlansUnder rules issued July 1, self-funded student health plans will be designated as providing minimum essential coverage under the Affordable Care Act for a one-year transition period. For plan or policy years beginning in 2015, however, sponsors of such plans will need to apply for recognition as providing minimum essential coverage.
Senators Ask Colleagues to Rethink Tax CodeSenate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Orrin Hatch (R-UT) announced they are taking a new “blank slate” approach to tax reform discussions.
GASB Seeks Field Testers for Fair Value ProjectThe GASB is soliciting participants for a field test it is conducting in conjunction with the issuance of a Preliminary Views document on fair value application and measurement. Public colleges and universities are encouraged to volunteer.
NACUBO Issues RFP for Authors
NACUBO seeks authors for two web-based subscription services: the Financial Accounting and Reporting Manual, which analyzes guidance issued by the Governmental Accounting Standards Board and the Financial Accounting Standards Board; and the Federal Auditing and Information Service, which covers federal regulations, OMB circulars, and industry audit guidance for colleges and universities subject to federal audit and research requirements. Please see the RFP for all the details.
Final Rules on Coverage of ContraceptivesFinal rules under the Affordable Care Act affirm that nonprofit religious hospitals and institutions of higher education that object to providing contraceptive coverage for employees or students on religious grounds will not be required to pay for such coverage. The rules spell out that while contraceptive coverage must be made available to women enrolled in their health plans, it will be provided through a third-party plan administrator and at no cost to the institutions.
Federal Auditing Information Service (FAIS)
Financial Accounting and Reporting Manual (FARM)