Welfare Benefit Plan ERISA News
April 2011

 
ERISA Considerations for Severance Pay Policies
This Checklist compares the advantages and disadvantages of formal and informal severance pay plans in regard to complying with ERISA.
Student Health Insurance not subject to PPACA
A proposed HHS rule would provide full or limited exemptions from several health reform provisions for defined student health insurance, including 1) Guaranteed Availability and Guaranteed Renewability, 2) Annual Limits, and 3 )Medical Loss Ratios.
Congress Votes to Repeal 1099 Law
The Senate voted to repeal a law that was part of healthcare reform, which would have required employers to issue a 1099 to every vendor to which it paid $600 or more for services or goods. The House also voted to repeal it, but no immediate relief for small business is in sight because the House and the Senate disagree on how to pay for the expected loss of revenue, more than $20 billion over 10 years.
Fee Transparency for Health Plans
The DOL, TPAs, and some Plan Administrators want fees and commissions disclosed in advance of awarding business to a broker.
HIPAA Violations
HHS has dramatically stepped up enforcement of HITECH. Cignet Health ignored requests for records from 41 individuals for 13,516 penalty days. The minimum fine of $100/day totaled $1,351,600. HHS also assessed the maximum penalty for failure to cooperate with its investigation at $3 million, totaling $4,351,600. Source

Massachusetts General Hospital was fined $1,000,000 when an employee took patient records containing PHI home to work on, but left them unprotected on the subway. Source
ERISA Bonding Requirements
As reported in our October 2010 newsletter and discussed on our website, ERISA bonding requirements are quite complex. This is a good article describing who needs to be bonded, what type and amount of coverage is required, and what are the exceptions to the bonding requirement.
 
 
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© 2017 ERISAPros, LLC, All rights reserved. Information on ERISAPros' website, its newsletter, “News & Views,” and its blog, “ERISA Wonk,” is published as a general informational source. Information and articles are general in nature and are not intended to constitute legal or tax advice in any particular matter. Blog posts and comments reflect the personal views of their respective authors - not those of ERISAPros. Transmission of this information does not create an attorney-client relationship. ERISAPros, LLC is not a law firm and is not giving legal or tax advice. It does not warrant and is not responsible for errors or omissions in the content on its website or in its newsletters. ERISA is a complicated and confusing law. Summary Plan Descriptions (SPDs), Wrap Plan Documents, and Form 5500s require review and updating by qualified ERISA compliance professionals.

 

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