Group Health Plans and Health Insurance Coverage Rules Relating to Status as a Grandfathered Health Plan Under the Patient Protection and Affordable Care Act, 70159-70160 [2010-28866]
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erowe on DSK5CLS3C1PROD with PROPOSALS-1
Federal Register / Vol. 75, No. 221 / Wednesday, November 17, 2010 / Proposed Rules
result of an adverse, negative, or
otherwise unfavorable research report or
public appearance written or made, in
good faith, by the research analyst that
may adversely affect the futures
commission merchant’s or introducing
broker’s present or prospective trading
or clearing activities.
(d) Clearing activities.
(1) No futures commission merchant
shall permit any affiliated swap dealer
or major swap participant to directly or
indirectly interfere with, or attempt to
influence, the decision of the clearing
unit personnel of the futures
commission merchant with regard to the
provision of clearing services and
activities, including but not limited to:
(i) Whether to offer clearing services
and activities to customers;
(ii) Whether to accept a particular
customer for the purposes of clearing
derivatives;
(iii) Whether to submit a transaction
to a particular derivatives clearing
organization;
(iv) Setting risk tolerance levels for
particular customers;
(v) Determining acceptable forms of
collateral from particular customers; or
(vi) Setting fees for clearing services.
(2) Each futures commission merchant
shall create and maintain an appropriate
informational partition between
business trading units of an affiliated
swap dealer or major swap participant
and clearing unit personnel of the
futures commission merchant. At a
minimum, such informational partitions
shall require that:
(i) No employee of a business trading
unit of an affiliated swap dealer or
major swap participant may review or
approve the provision of clearing
services and activities by clearing unit
personnel of the futures commission
merchant, make any determination
regarding whether the futures
commission merchant accepts clearing
customers, or participate in any way
with the provision of clearing services
and activities by the futures commission
merchant;
(ii) No employee of a business trading
unit of an affiliated swap dealer or
major swap participant shall supervise,
control, or influence any employee of a
clearing unit of the futures commission
merchant; and
(iii) No employee of the business
trading unit of an affiliated swap dealer
or major swap participant shall
influence or control compensation or
evaluation of any employee of the
clearing unit of the futures commission
merchant.
(e) Undue Influence on Customers.
Each futures commission merchant and
introducing broker must adopt and
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15:18 Nov 16, 2010
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implement written policies and
procedures that mandate the disclosure
to its customers of any material
incentives and any material conflicts of
interest regarding the decision of a
customer as to the trade execution and/
or clearing of the derivatives
transaction.
(f) All records that a futures
commission merchant or introducing
broker is required to maintain pursuant
to this regulation shall be maintained in
accordance with Commission
Regulation § 1.31 and shall be made
available promptly upon request to
representatives of the Commission.
Issued in Washington, DC, on November
10, 2010, by the Commission.
David A. Stawick,
Secretary of the Commission.
Statement of Chairman Gary Gensler
Implementation of Conflicts of Interest
Policies and Procedures by Futures
Commission Merchants and Introducing
Brokers
I support the proposed rulemakings
that establish firewalls to ensure a
separation between the research arm,
the trading arm and the clearing
activities of swap dealers, major swap
participants, futures commission
merchants and introducing brokers.
This rule proposal relates to the
conflicts-of-interest provisions of the
Dodd-Frank Act that direct swap dealers
and major swap participants to have
appropriate informational partitions.
The proposal builds upon similar
protections in the securities markets as
mandated in the Sarbanes-Oxley Act.
The proposed rules will protect market
participants and the public while also
promoting the financial integrity of the
marketplace.
[FR Doc. 2010–29003 Filed 11–16–10; 8:45 am]
BILLING CODE 6351–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 54
[REG–118412–10]
RIN 1545–BJ50
Group Health Plans and Health
Insurance Coverage Rules Relating to
Status as a Grandfathered Health Plan
Under the Patient Protection and
Affordable Care Act
Internal Revenue Service (IRS),
Treasury.
AGENCY:
PO 00000
Frm 00010
Fmt 4702
Sfmt 4702
70159
Notice of proposed rulemaking
by cross-reference to temporary
regulations.
ACTION:
In the Rules and Regulations
section of this issue in the Federal
Register, the IRS is issuing temporary
regulations regarding status as a
grandfathered health plan under the
provisions of the Patient Protection and
Affordable Care Act (the Affordable Care
Act) in connection with changes in
policies, certificates, or contracts of
insurance. The temporary regulations
provide guidance to employers, group
health plans, and health insurance
issuers providing group health
insurance coverage. The IRS is issuing
the temporary regulations at the same
time that the Employee Benefits
Security Administration of the U.S.
Department of Labor and the Office of
Consumer Information and Insurance
Oversight of the U.S. Department of
Health and Human Services are issuing
substantially similar interim final
regulations with respect to group health
plans and health insurance coverage
offered in connection with a group
health plan under the Employee
Retirement Income Security Act of 1974
and the Public Health Service Act. The
text of the temporary regulations being
issued by the IRS serves as the text of
these proposed regulations.
DATES: Written or electronic comments
and requests for a public hearing must
be received by December 17, 2010.
ADDRESSES: Send submissions to:
CC:PA:LPD:PR (REG–118412–10), room
5205, Internal Revenue Service, PO Box
7604, Ben Franklin Station, Washington,
DC 20044. Submissions may be handdelivered to: CC:PA:LPD:PR (REG–
118412–10), Courier’s Desk, Internal
Revenue Service, 1111 Constitution
Avenue, NW., Washington, DC 20224.
Alternatively, taxpayers may submit
comments electronically via the Federal
eRulemaking Portal at https://
www.regulations.gov (IRS REG–118412–
10).
FOR FURTHER INFORMATION CONTACT:
Concerning the regulations, Karen Levin
at 202–622–6080; concerning
submissions of comments or to request
a hearing, Regina Johnson at 202–622–
7180 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
The temporary regulations published
elsewhere in this issue of the Federal
Register amend § 54.9815–1251T of the
Miscellaneous Excise Tax Regulations.
The proposed and temporary
regulations are being published as part
of a joint rulemaking with the
E:\FR\FM\17NOP1.SGM
17NOP1
70160
Federal Register / Vol. 75, No. 221 / Wednesday, November 17, 2010 / Proposed Rules
erowe on DSK5CLS3C1PROD with PROPOSALS-1
Department of Labor and the
Department of Health and Human
Services (the joint rulemaking). The text
of those temporary regulations also
serves as the text of these proposed
regulations. The preamble to the
temporary regulations explains the
temporary regulations and these
proposed regulations.
Special Analyses
It has been determined that this notice
of proposed rulemaking is not a
significant regulatory action as defined
in Executive Order 12866. Therefore, a
regulatory assessment is not required. It
has also been determined that section
553(b) of the Administrative Procedure
Act (5 U.S.C. chapter 5) does not apply
to this proposed regulation. It is hereby
certified that the collection of
information contained in this notice of
proposed rulemaking will not have a
significant impact on a substantial
number of small entities. Accordingly, a
regulatory flexibility analysis is not
required.
The amendment to the temporary
regulations adds a new third-party
disclosure requirement so that it also
applies to a group health plan that is
changing health insurance coverage.
The group health plan must provide to
a succeeding or new health insurance
issuer (and the succeeding or new
health insurance issuer must require)
documentation of plan terms (including
benefits, cost sharing, employer
contributions, and annual limits) under
the prior health insurance coverage
sufficient to make a determination
whether a change described in
§ 54.9815–1251T(g)(1) has occurred. The
hour and cost burden associated with
this requirement is de minimis, because
group health plans can satisfy the
requirement by providing a copy of the
policy or summary plan description to
the succeeding or new health insurance
issuer. This is not a significant burden
for any plan and thus will not have a
significant impact on a substantial
number of small entities.
For further information and for
analyses relating to the joint
rulemaking, see the preamble to the
joint rulemaking. Pursuant to section
7805(f) of the Internal Revenue Code,
this regulation has been submitted to
the Chief Counsel for Advocacy of the
Small Business Administration for
comment on its impact on small
business.
Comments and Requests for a Public
Hearing
Before these proposed regulations are
adopted as final regulations,
consideration will be given to any
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Jkt 223001
written comments (a signed original and
eight (8) copies) or electronic comments
that are submitted timely to the IRS.
Comments are specifically requested on
this amendment to the proposed
regulations, including the prospective
effective date of the rule and how that
affects plans with different plan years.
All comments will be available for
public inspection and copying. A public
hearing may be scheduled if requested
in writing by a person that timely
submits written comments. If a public
hearing is scheduled, notice of the date,
time, and place for the hearing will be
published in the Federal Register.
Drafting Information
The principal author of these
proposed regulations is Karen Levin,
Office of the Division Counsel/Associate
Chief Counsel (Tax Exempt and
Government Entities), IRS. The
proposed regulations, as well as the
temporary regulations, have been
developed in coordination with
personnel from the U.S. Department of
Labor and the U.S. Department of
Health and Human Services.
List of Subjects in 26 CFR Part 54
Excise taxes, Health care, Health
insurance, Pensions, Reporting and
recordkeeping requirements.
Proposed Amendments to the
Regulations
Accordingly, 26 CFR part 54 is
proposed to be amended as follows:
PART 54—PENSION EXCISE TAXES
Paragraph 1. The authority citation
for part 54 continues to read in part as
follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 54.9815–1251 as
published on June 17, 2010, at 75 FR
34571, is amended by revising
paragraphs (a)(1), (a)(3)(ii), (f), and (g)(4)
Example 9 to read as follows:
§ 54.9815–1251 Preservation of right to
maintain existing coverage.
(a) * * * (1) [The text of proposed
§ 54.9815–1251(a)(1) is the same as the
text of § 54.9815–1251T(a)(1) published
elsewhere in this issue of the Federal
Register].
*
*
*
*
*
(3) * * *
(ii) [The text of proposed § 54.9815–
1251(a)(3)(ii) is the same as the text of
§ 54.9815–1251T(a)(3)(ii) published
elsewhere in this issue of the Federal
Register].
*
*
*
*
*
(f) [The text of proposed § 54.9815–
1251(f) is the same as the text of
PO 00000
Frm 00011
Fmt 4702
Sfmt 4702
§ 54.9815–1251T(f) published elsewhere
in this issue of the Federal Register].
(g) * * *
(4) * * *
Example 9. [The text of proposed
§ 54.9815–1251(g)(4) Example 9 is the
same as the text of § 54.9815–
1251T(g)(4) Example 9 published
elsewhere in this issue of the Federal
Register].
Steven T. Miller,
Deputy Commissioner for Services and
Enforcement.
[FR Doc. 2010–28866 Filed 11–15–10; 4:15 pm]
BILLING CODE 4830–01–P
DEPARTMENT OF HEALTH AND
HUMAN SERVICES
Office of the Secretary
45 CFR Part 147
[Docket No. OCIIO–9986–NC]
DEPARTMENT OF LABOR
Employee Benefits Security
Administration
29 CFR Part 2590
Affordable Care Act; Federal External
Review Process; Request for
Information
Office of Consumer Information
and Insurance Oversight, Department of
Health and Human Services; Employee
Benefits Security Administration,
Department of Labor.
ACTION: Notice; request for information.
AGENCY:
This notice is a request for
information (RFI) to gain market
analysis information in advance of one
or more future Requests for Proposals
(RFP). On July 23, 2010, the
Departments of Health and Human
Services, Labor, and the Treasury
published interim final regulations
regarding, among other things,
procedures for external review of health
plan denials. The regulations include a
provision for a Federal external review
process in instances where there is no
applicable State process. This RFI
solicits information that will enable the
Departments of Health and Human
Services (HHS) and Labor (DOL) to
conduct a market analysis and assist the
Departments in planning and
developing the Federal external review
process. HHS and/or DOL may contract
for services required to fulfill the
statutory and regulatory requirements of
the Federal external review process
established under section 2719 of the
SUMMARY:
E:\FR\FM\17NOP1.SGM
17NOP1
]]>Agencies
[Federal Register Volume 75, Number 221 (Wednesday, November 17, 2010)]
[Proposed Rules]
[Pages 70159-70160]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2010-28866]
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 54
[REG-118412-10]
RIN 1545-BJ50
Group Health Plans and Health Insurance Coverage Rules Relating
to Status as a Grandfathered Health Plan Under the Patient Protection
and Affordable Care Act
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice of proposed rulemaking by cross-reference to temporary
regulations.
-----------------------------------------------------------------------
SUMMARY: In the Rules and Regulations section of this issue in the
Federal Register, the IRS is issuing temporary regulations regarding
status as a grandfathered health plan under the provisions of the
Patient Protection and Affordable Care Act (the Affordable Care Act) in
connection with changes in policies, certificates, or contracts of
insurance. The temporary regulations provide guidance to employers,
group health plans, and health insurance issuers providing group health
insurance coverage. The IRS is issuing the temporary regulations at the
same time that the Employee Benefits Security Administration of the
U.S. Department of Labor and the Office of Consumer Information and
Insurance Oversight of the U.S. Department of Health and Human Services
are issuing substantially similar interim final regulations with
respect to group health plans and health insurance coverage offered in
connection with a group health plan under the Employee Retirement
Income Security Act of 1974 and the Public Health Service Act. The text
of the temporary regulations being issued by the IRS serves as the text
of these proposed regulations.
DATES: Written or electronic comments and requests for a public hearing
must be received by December 17, 2010.
ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-118412-10), room
5205, Internal Revenue Service, PO Box 7604, Ben Franklin Station,
Washington, DC 20044. Submissions may be hand-delivered to:
CC:PA:LPD:PR (REG-118412-10), Courier's Desk, Internal Revenue Service,
1111 Constitution Avenue, NW., Washington, DC 20224. Alternatively,
taxpayers may submit comments electronically via the Federal
eRulemaking Portal at https://www.regulations.gov (IRS REG-118412-10).
FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Karen
Levin at 202-622-6080; concerning submissions of comments or to request
a hearing, Regina Johnson at 202-622-7180 (not toll-free numbers).
SUPPLEMENTARY INFORMATION:
Background
The temporary regulations published elsewhere in this issue of the
Federal Register amend Sec. 54.9815-1251T of the Miscellaneous Excise
Tax Regulations. The proposed and temporary regulations are being
published as part of a joint rulemaking with the
[[Page 70160]]
Department of Labor and the Department of Health and Human Services
(the joint rulemaking). The text of those temporary regulations also
serves as the text of these proposed regulations. The preamble to the
temporary regulations explains the temporary regulations and these
proposed regulations.
Special Analyses
It has been determined that this notice of proposed rulemaking is
not a significant regulatory action as defined in Executive Order
12866. Therefore, a regulatory assessment is not required. It has also
been determined that section 553(b) of the Administrative Procedure Act
(5 U.S.C. chapter 5) does not apply to this proposed regulation. It is
hereby certified that the collection of information contained in this
notice of proposed rulemaking will not have a significant impact on a
substantial number of small entities. Accordingly, a regulatory
flexibility analysis is not required.
The amendment to the temporary regulations adds a new third-party
disclosure requirement so that it also applies to a group health plan
that is changing health insurance coverage. The group health plan must
provide to a succeeding or new health insurance issuer (and the
succeeding or new health insurance issuer must require) documentation
of plan terms (including benefits, cost sharing, employer
contributions, and annual limits) under the prior health insurance
coverage sufficient to make a determination whether a change described
in Sec. 54.9815-1251T(g)(1) has occurred. The hour and cost burden
associated with this requirement is de minimis, because group health
plans can satisfy the requirement by providing a copy of the policy or
summary plan description to the succeeding or new health insurance
issuer. This is not a significant burden for any plan and thus will not
have a significant impact on a substantial number of small entities.
For further information and for analyses relating to the joint
rulemaking, see the preamble to the joint rulemaking. Pursuant to
section 7805(f) of the Internal Revenue Code, this regulation has been
submitted to the Chief Counsel for Advocacy of the Small Business
Administration for comment on its impact on small business.
Comments and Requests for a Public Hearing
Before these proposed regulations are adopted as final regulations,
consideration will be given to any written comments (a signed original
and eight (8) copies) or electronic comments that are submitted timely
to the IRS. Comments are specifically requested on this amendment to
the proposed regulations, including the prospective effective date of
the rule and how that affects plans with different plan years. All
comments will be available for public inspection and copying. A public
hearing may be scheduled if requested in writing by a person that
timely submits written comments. If a public hearing is scheduled,
notice of the date, time, and place for the hearing will be published
in the Federal Register.
Drafting Information
The principal author of these proposed regulations is Karen Levin,
Office of the Division Counsel/Associate Chief Counsel (Tax Exempt and
Government Entities), IRS. The proposed regulations, as well as the
temporary regulations, have been developed in coordination with
personnel from the U.S. Department of Labor and the U.S. Department of
Health and Human Services.
List of Subjects in 26 CFR Part 54
Excise taxes, Health care, Health insurance, Pensions, Reporting
and recordkeeping requirements.
Proposed Amendments to the Regulations
Accordingly, 26 CFR part 54 is proposed to be amended as follows:
PART 54--PENSION EXCISE TAXES
Paragraph 1. The authority citation for part 54 continues to read
in part as follows:
Authority: 26 U.S.C. 7805 * * *
Par. 2. Section 54.9815-1251 as published on June 17, 2010, at 75
FR 34571, is amended by revising paragraphs (a)(1), (a)(3)(ii), (f),
and (g)(4) Example 9 to read as follows:
Sec. 54.9815-1251 Preservation of right to maintain existing
coverage.
(a) * * * (1) [The text of proposed Sec. 54.9815-1251(a)(1) is the
same as the text of Sec. 54.9815-1251T(a)(1) published elsewhere in
this issue of the Federal Register].
* * * * *
(3) * * *
(ii) [The text of proposed Sec. 54.9815-1251(a)(3)(ii) is the same
as the text of Sec. 54.9815-1251T(a)(3)(ii) published elsewhere in
this issue of the Federal Register].
* * * * *
(f) [The text of proposed Sec. 54.9815-1251(f) is the same as the
text of Sec. 54.9815-1251T(f) published elsewhere in this issue of the
Federal Register].
(g) * * *
(4) * * *
Example 9. [The text of proposed Sec. 54.9815-1251(g)(4) Example 9
is the same as the text of Sec. 54.9815-1251T(g)(4) Example 9
published elsewhere in this issue of the Federal Register].
Steven T. Miller,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2010-28866 Filed 11-15-10; 4:15 pm]
BILLING CODE 4830-01-P
