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Starting on Jan. 1, 2020, Illinois residents and visitors over age 21 are allowed to purchase, possess, use, or transport cannabis for recreational purposes. Illinois’ legalization of recreational cannabis under state law will impact Illinois and Missouri employers because the drug will be more accessible to their employees.
Certain treatments for chronic conditions can now be covered by high deductible health plans (HDHPs) as preventive care before the deductible is met. Pursuant to an executive order, a new IRS notice will allow individuals with certain conditions, such as asthma or diabetes, to obtain coverage for treatments and medications, such as inhalers and insulin, without first meeting their high deductible.
This is Part 1 in a two-part series. Part 1 will focus on employee non-compete assignability in asset purchase transactions, and Part 2 will address stock purchase or merger transactions.
Health care employers such as medical groups or hospitals have a valuable stake in protecting their businesses interests by having covenants not to compete in place for important employees such as physicians. Whether these non-competes are assignable by a seller to a buyer can be an important consideration in structuring a business transaction involving the purchase of a health care business enterprise.