Top 10 Consumer, Health and Family Headlines from North America As part of its financial regulatory reform program, the Obama Administration, through the Treasury, submitted to Congress proposed legislation that would establish a new consumer regulatory agency, the Consumer Financial Protection Agency (the “CFPA”), which would consolidate and expand the existing regulatory regime for consumer financial products. As many of you know, the federal estate tax exemption (or credit equivalent) increased on January 1, 2009 from $2 million per person to $3.5 million. Last week, the interagency task force on Chinese drywall released the initial results of several studies it is overseeing. On October 9, 2009, CMS issued a proposed rule, Policy and Technical Changes to the Medicare Advantage and the Medicare Prescription Drug Benefit Programs (Proposed Rule), which establishes new and revised rules for Medicare managed care (Part C), Medicare Advantage (MA), and Medicare prescription drug plans (Part D). CMS will accept comments on the Proposed Rule until December 8, 2009. Hospitals that look to health reform initiatives for a reduction in their burden of uncompensated care may find that declining compensation for related costs offsets any expected gains. The next chapter in the ongoing effort by the federal government to narrow the permissible uses of personal health information by entities engaged in the health care industry has arrived. On Friday, October 9, 2009, CMS circulated a proposed rule (Proposed Rule) that would significantly ease the compliance burden associated with fraud, waste, and abuse (FWA) education required for hospitals, skilled nursing facilities, home health agencies, and other providers and suppliers doing business with Medicare Advantage (MA) plans. On October 1, 2009, the Department of Health and Human Services Office of Inspector General ("HHS-OIG") released its Work Plan for the 2010 fiscal year ("2010 Work Plan"). On October 5, 2009, the Federal Trade Commission (FTC) voted to revise its Guides Concerning the Use of Endorsements and Testimonials in Advertising for the first time since 1980. The Holiday season this year carries with it not only high hopes for successful sales but the threat of widespread – and increasing – influenza outbreaks. |
