Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985. Prior to joining Accounting Today and WebCPA, he worked for Red Herring, Internet World, Beyond Computing, Accounting Technology and PC Magazine, and freelanced for a variety of other business publications. A graduate of the University of Pennsylvania with a BA in English, he studied accounting at the Wharton School of Business, and currently lives in New York City.
A group of lawmakers has introduced legislation to roll back guidance from the Treasury Department that prohibits employers from using stand-alone health reimbursement arrangements to reimburse employees for health care-related expenses.
The House passed H.R. 160, the Protect Medical Innovation Act, by a vote of 280 to 140. The bill was introduced by Rep. Erik Paulsen (R-Minn.), a member of the tax-writing House Ways and Means Committee.
The Centers for Medicare and Medicaid Services internal controls did not effectively ensure the accuracy of nearly $2.8 billion in financial assistance payments to insurance companies under the Affordable Care Act during the first four months that the payments were made, according to a new government report.