Welfare Benefit Plan ERISA News
December 2012

 
What Employers Should Be Thinking about for 2013
"For employers and plan sponsors that have been adopting a "wait and see" approach before focusing on compliance with the Patient Protection and Affordable Care Act (PPACA), the time to wait is over. PPACA's insurance mandates, market reforms, and employer requirements generally will move ahead as scheduled, with most of PPACA becoming fully effective just a short year from now, in 2014. Since the law left the task of working out many of the details to the regulatory agencies (the Department of Labor, the IRS and the Department of Health and Human Services), employers can now expect that an enormous number of regulations on many of the unanswered questions and other types of guidance will be issued between now and the end of 2013."
(More information)
5 Do's and Don'ts for Preventing Common COBRA Compliance Mistakes
"With so many requirements under COBRA, it's easy to make a mistake that could result in costly penalties. Understanding your responsibilities when it comes to COBRA compliance is the best way to prevent expensive mistakes. The following do's and don'ts can help you get started." For more tips on how you can prevent costly mistakes, be sure to download this free eBook, How to Avoid the Top 10 COBRA Mistakes.
Promising Benefits in Excess of Plan Terms
Can Be Costly
Employers that grant special health care continuation arrangements need to be certain that these provisions comply with the Internal Revenue Code and are properly reflected in plan terms and disclosures to insurance carriers. (More)
Review of Notice Requirements for Health Plans
Since most employers operate their health plans on a calendar year basis, this is a good time of year to review the annual participant notice requirements for employer group health plans, e.g. Women's Health and Cancer Rights Act (WHCRA), Medicare Part D Notice of Creditable or Non-Creditable Coverage, HIPAA Notice of Privacy Practices, Children's Health Insurance Program Reauthorization Act (CHIPRA), Summary of Benefits and Coverage, and Notice Regarding Grandfathered Plan Status. Click here for a full review of the Reporting and Disclosure Compliance Guide for Welfare Benefit Plans.
Health and Welfare Plans Audits on the Rise

While audits of qualified retirement plans have become commonplace, audits of health and welfare plans have historically been much less common. Only a select group of "lucky" employers was subjected to health and welfare plan audits, and the scope of those audits was somewhat limited. Unfortunately, it appears that trend is ending. (More)

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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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