Amazon announced it will be purchasing the online pharmacy PillPack. The deal is expected to close before the end of the year.
The PillPack, an online pharmacy startup that earned more than $100 million in revenue last year, Amazon is now able to enter the prescription market.
The Trump administration unveiled an outline for potentially lowering the price of prescription drugs.
The blueprint identifies four key areas of focus:
The due date for the Patient-Centered Outcomes Research Institute Fees (PCORI fees) is just around the corner. By July 31, 2018, issuers and plan sponsors will be required to pay the PCORI fees for plan years ending in 2017 on IRS Form 720. Please contact Hummel Group for additional information on PCORI fees.
A Virginia court is considering a lawsuit involving reference-based pricing (RBP) and balance billing. The case, Glenn Dennis v. Memorial Hospital of Martinsville & Henry County, appears to be the first balance billing case to go to trial and could determine how courts decide these disputes in the future.
Tax scams are on the rise. Don't be fooled into giving your personal information or tax return to a thief. Scammers have complex methods for tricking individuals, most commonly by impersonating the IRS.
Know that the IRS will never demand immediate payment, request wire transfers, threaten to involve police or ask for credit card information.
At his swearing-in ceremony, new Secretary of the Department of Health and Human Services, Alex Azar, stated that bringing the price of prescription drugs down and tackling the opioid crisis are two topics he will focus on.
While there are no specifics on how he and President Donald Trump plan to do this, we will continue to monitor the issue and provide updates as possible.
The Tax Cuts and Jobs Act, signed into effect late December, creates a new tax credit for wages paid by employers in 2018 and 2019 to employees while on family and medical leave, as defined by the Family and Medical Leave Act (FMLA).
The Senate tax bill would repeal the individual mandate - a hallmark of the Affordable Care Act (ACA) - beginning in 2019.
However, the Senate and House of Representatives must agree on tax reform legislation before a bill is signed by the president and becomes law.
For now, continue complying with any ACA requirements. We will keep you apprised of new developments as they arise.