Health & Retirement | Page 2 | Business Roundtable

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    Betsy Andres Stewart
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LeAnne Redick Wilson
Senior Vice President
​lwilson@brt.org

    

What is Business Roundtable

Business Roundtable (BRT) is an association of chief executive officers of leading U.S. companies working to promote sound public policy and a thriving U.S. economy.

More Than Leaders. Leadership.

Business Roundtable is an association of chief executive officers of leading U.S. companies working to promote a thriving economy and expanded opportunity for all Americans through sound public policy.

About BRT

As business leaders representing every sector of the economy and providing health care and retirement benefits to tens of millions of Americans and their families, Business Roundtable members are committed to improving the affordability and quality of the nation’s health and retirement security systems.

Survey Results Reveal Public Opposition to 40 Percent Tax on Health Plans

A new public opinion survey reports that three-quarters of the public worries that the pending 40 percent tax on some employer-sponsored health benefits will hurt their access to health care services, a concern shared by America’s largest employers.
 

Engler Op-ed: Go Back to Drawing Board on Fiduciary Rule

A new rule proposed by the U.S. Department of Labor to change the legal definition of “fiduciary” -- savings and retirement advisers -- likely will have far-reaching consequences for millions of Americans.

Letter: IRS Guidance Related To the Excise Tax on High Cost Employer-Sponsored Health Coverage

Business Roundtable’s comment letter on proposed Internal Revenue Service (IRS) guidance related to the Excise Tax on High Cost Employer-Sponsored Health Coverage (Notice 2015-52)
We are concerned that many of the provisions contained in the proposed guidance documents will have an adverse effect on the quality and value of employer-sponsored health care in the United States.

BRT Statement for the Record: Hearing on “The Department of Labor’s Proposed Fiduciary Rule”

Business Roundtable President John Engler submitted a Statement for the Record for a House Ways and Means Committee Oversight Subcommittee hearing on “The Department of Labor’s Proposed Fiduciary Rule” on September 30, 2015. The testimony outlines the Business Roundtable’s concerns that the Labor Department’s proposed definitional changes are too broad and subjective, and its proposed exemptions are too narrow and will raise the costs of saving for retirement.

Statement on Congressional Letter to Labor Secretary on Financial Advisors

A rule intended to benefit consumers should not limit their ability to obtain guidance, restrict access to products and services, have a disproportionate impact on certain communities or raise the costs of saving for retirement

BRT, NAM & U.S. Chamber of Commerce Call on Congress to Repeal the 40% Tax on Health Benefits

In a letter to the editor published in the New York Times, John Engler, President of Business Roundtable, Jay Timmons, President and CEO of the National Association of Manufacturers (NAM), and Thomas J. Donohue, President and CEO of the U.S. Chamber of Commerce, call on Congress and the Administration to repeal the 40 percent tax on health benefits.

Business Groups: Repeal Punitive, Pricey Tax on Employer Health-Care Plans

As many as 25 percent of all employer-sponsored plans — including government employee plans — will likely be subject to this tax in its first year (2018), and that number will quickly rise, making today’s “low cost” plan “pricey” tomorrow.

Letter on ACA's 40 Percent Excise Tax on Health Care Benefits

The broad application of the 40 percent excise tax means that, over time, the health benefit plans of all major U.S. employers will be subject to the tax. The impact of the eventual tax liability resulting from this provision is staggering and will distort the employer-sponsored health care marketplace, leading to dramatic changes in the benefits offered to employees.

Comment Letter to Department of Labor on Investment Fiduciary Regulation

Financial professionals should be required to act in the best interests of employee benefit plan participants when providing investment advice to a retirement plan or its participants. While we appreciate the EBSA addressing this issue, we urge the EBSA to reconsider some elements of its proposed definition of fiduciary and the related proposed prohibited transaction exemptions.

A 40 Percent Excise Tax Will Reduce Health Care Options, Raise Costs

In his July 15 Washington Post column, “Obamacare’s ‘Cadillac Tax’ is an important part of the plan so don’t mess with it,” Jared Bernstein argues that the Affordable Care Act’s 40 percent excise tax on health benefits is unlikely to hurt the vast majority of policyholders.

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Committee Priorities

Business Roundtable members want to ensure that future generations of American retirees can enjoy peace of mind in retirement. They support proposals to strengthen Social Security and Medicare, improve their finances and preserve their benefits for current and future retirees.

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Changes are needed to the Affordable Care Act to reduce the complexity of compliance and the costs. These changes should start with eliminating unnecessary and duplicative requirements, fees and taxes on medical devices, insurance plans and pharmaceuticals.

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Business Roundtable members are committed to offering benefits that help empower employees, giving them tools and resources to lead healthier lives.

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The Employee Retirement Income Security Act (ERISA), which Business Roundtable strongly supports, provides the legal authority that permits employers to manage health care and retirement plans for employees in locations across the country without 50 states imposing separate requirements.

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Business Roundtable supports policies that will create value for all consumers of health care services, including expanding the use of health information technology; dissemination of consumer information on cost and quality of health care; and promotion of changing payments by public and private payers, including Medicare, to reward value of services provided, not volume.

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Business Roundtable supports enacting medical liability reform to ensure that patients do not lose access to physicians and a full range of health care services. These reforms include revising tort laws, developing alternative mechanisms to resolve claims and continuing support for the use of appropriate medical practice guidelines.

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Business Roundtable supports tax policy with stable incentives to contribute to defined benefit and defined contribution retirement plans.

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