Retirement & Health Plan Provisions in 2018 Budget Act

Although many benefit-related issues discussed in the run-up to the federal budget were not included in the final law, the interim Bipartisan Budget Act of 2018 (the Act) includes several noteworthy employee benefit health and retirement plan provisions. For group health plans covering Medicare retirees, the most significant changes are the accelerated closing of the coverage gap (“donut hole”) in the Medicare Part D prescription drug program and further increases in the amount that certain high-income Medicare beneficiaries will have to pay for their Part D and Part B premiums.