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You Had Your Chance: New Jersey Tax Court Prohibits Audit Adjustments to Closed Years | Blank Rome LLP
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Merrill Lynch Beats Challenge To NJ Tax Assessment Cuts
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LaVecchia s parting gift
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Top Insurance Regulatory Developments of 2020: Part 2 By Brian Casey, Zach Lerner and Ben Sykes | January 26, 2021
This is the second installment of a two-part look at the top 10 insurance regulatory developments of 2020 by attorneys at Locke Lord. The first part on Jan. 22 covered COVID-19, Insurtechs, Data Privacy, Race Equality and Pharmacy Benefit Managers. Here they look at Antitrust, Captives, Service Contracts, Travel Insurance and Surplus Lines.
Health Insurers and Antitrust Laws
Blue Cross Blue Shield Anti-Trust Case Settlement
After more than eight years of contentious multi-district antitrust litigation between the Blue Cross and Blue Shield Association (“BCBSA”), its 36 member insurance plans (“BCBS Member Plans”) and their policyholders, regarding restrictions on competition among BCBS Member Plans, the parties finally came to a tentative settlement in the fall of 2020, including a $2.7 billion restitution fund to
FAIRFIELD-SUISUN, CALIFORNIA
New Jersey Gov. Phil Murphy speaks on June 14, 2018, in Monmouth Park in Oceanport, New Jersey. (Dominick Reuter/AFP/Getty Images/TNS)
New Jersey may be the first state to impose per-bed fees on nonprofit hospitals for municipal services
New Jersey lawmakers approved an unusual measure last week that requires many nonprofit hospitals to pay per-bed fees to their local governments, while preserving their increasingly contested property-tax exemptions.
The legislation, which requires hospitals to pay a fee of $3 a day for each licensed bed, is in response to a landmark 2015 New Jersey Tax Court ruling involving Morristown Medical Center that “the operation and function of nonprofit hospitals do not meet the criteria for property tax exemption” under state law. A 300-bed hospital subject to the fee would pay $328,500 a year.