ERISA

Posted April 28th, 2021 in Employers, Producers

The Employee Benefit Security Administration (EBSA), a division within the U.S. Department of Labor (DOL), recently published a Cybersecurity Program Best Practices document for employer plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).

Posted December 22nd, 2020 in Employers, Producers

As we approach the new year, it is important that employers and benefit advisors not forgot some of the reporting obligations that come along with offering group health plans and other employee benefit programs.

Here are four reporting reminders:

Posted December 8th, 2020 in Employers, Producers

Tis the season where open enrollments are occurring throughout the country. Employees are generally offered an array of benefits to choose from by their employer. This includes, but is not limited to, health insurance, dental insurance, vision insurance, Flexible Spending Accounts (FSAs), and more. It’s the most wonderful time of the year; however, employers need to make sure they comply with a very simple, but important rule.

Posted May 27th, 2020 in Employers, Producers

The regulatory agencies have been busy issuing guidance these last several weeks. Here are some important updates in case you missed them:

Posted November 27th, 2019 in Employers, Producers
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers who offer health and welfare benefits to maintain and distribute Summary Plan Descriptions (SPDs) to all plan participants. This SPD must include certain disclosures and information, such as when the employer may amend or terminate the plan(s).
 
Posted January 22nd, 2019 in Employers, Producers

The Employee Retirement Income Security Act of 1974 (ERISA) requires employers to provide a Summary Plan Description (SPD) to employees if they offer health, dental, vision, life, disability or other benefits.

Posted September 27th, 2018 in Employers, Producers

ERISA Section 607 defines the term group health plan as an employee welfare benefit plan providing “medical care” to participants or beneficiaries:

Posted April 26th, 2018 in Producers, Employers
This blog was originally posted on July 13, 2017.
 
Group health plans are almost always subject to the Employee Retirement Income Security Act of 1974, also known as ERISA.
 
This means employers must follow certain rules, such as:
 
  • Providing participants with important information in writing about plan features and funding.
  • Establishing an appeal and grievance process for participants to receive benefits from the plan.
Posted March 8th, 2018 in Producers, Employers
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers who offer health and welfare benefits to maintain and distribute Summary Plan Descriptions (SPDs) to all plan participants. This SPD must include certain disclosures and information, such as when the employer may amend or terminate the plan(s).
 
Posted July 13th, 2017 in Producers, Employers
Group health plans are almost always subject to the Employee Retirement Income Security Act of 1974, also known as ERISA.
 
This means employers must follow certain rules, such as:
 
  • Providing participants with important information in writing about plan features and funding.
  • Establishing an appeals and grievance process for participants to receive benefits from the plan.
  • Providing fiduciary responsibilities for those who manage and control plan assets.

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