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IRS and DOL Provide Deadline Relief

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On April 28, 2020, the U.S. Department of Labor (DOL) and Internal Revenue Service (IRS) issued a joint rule titled "Extension of Certain Timeframes for Employee Benefit Plans, Participants, and Beneficiaries Affected by the COVID-19 Outbreak". The rule provides automatic relief from a number of deadlines related to COBRA continuation coverage, HIPAA special enrollment periods, and claims and appeal filing deadlines for group health plans.
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Categories: Benefits in General, Compliance | Tags: Extension , COBRA , Claims , COVID-19 , IRS , DOL , Outbreak Period , Disaster Relief
When it comes to ERISA compliance, employers and brokers frequently ask us: who is responsible for creating documents and SPDs, how is a wrap plan used to satisfy ERISA compliance, and what information must be provided to employees and when. To help navigate some of the more common myths and misconceptions surrounding when employers must have plan documents and SPDs for benefits they sponsor we have provided the following responses to some of the more frequently asked questions.
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Categories: Benefits in General, Compliance | Tags: ERISA , DOL , Wrap Plans , SPD , Summary Plan Description , Plan documents , 5500 , Compliance Services
The Department of Labor (DOL) recently published the 2020 annual inflation adjustments to the civil monetary penalties for various violations pertaining to health and welfare benefit plans and pension and retirement plans.
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Categories: Compliance | Tags: DOL , Penalty , Inflation Adjusted , 2020
When it come to ERISA compliance, many employers have misconceptions surrounding when they must have plan documents and SPDs for benefits they sponsor, who is responsible for creating documents and SPDs and what information must be provided to employees and when.
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Categories: Benefits in General, Compliance | Tags: ERISA , Wrap Plans , ERISA Compliance , SPD , Plan Document , DOL

DOL Releases Inflation Adjusted Penalties for 2019

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The Department of Labor (DOL) recently published the Final Rule regarding the DOL Penalties Inflation Adjustment Act Annual Adjustments for 2019 setting forth the inflation-adjusted civil monetary penalties for violations pertaining to health and welfare benefit plans and pension and retirement plans.
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Categories: Benefits in General, Compliance | Tags: DOL , Penalty , 2019 , Inflation adjusted

Proposed Rule Will Expand HRA Options In 2020

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The proposed HRA rules released last week, would generally retain the current types of permitted HRAs (integrated HRAs, HRAs restricted to excepted benefits like dental and vision expenses, and retiree-only HRAs); Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) and also will eventually allow two new types of HRAs effective January 1, 2020.
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Categories: Benefits in General, Health Care Reform, Compliance | Tags: HRA , QSEHRA , Premium Reimbursement Account , PRHRA , Excepted Benefit HRA , IRS , DOL , ECFC

Summary Plan Description: Paper or Electronic?

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Department of Labor (DOL) regulations describe when an employer can distribute benefit information including the Summary Plan Description (SPD), Summary of Annual Report (SAR), Summary of Benefits and Coverage (SBC), and other required benefit notices (i.e. Medicare Part D, Women’s Heath and Cancer Rights Act, Privacy Notices, etc.) electronically to plan participants.
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Categories: Benefits in General, Compliance | Tags: SPD , DOL , Summary Plan Description , Department of Labor , Electronic Distribution , Safe Harbor , Thomas v. CIGNA Group Ins , SAR , SBC , Employee Notices

ERISA Compliance: Wrap Plans and SPD Requirements

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ERISA, which is short for the Employee Retirement Income Security Act, is a set of federal laws designed to protect employees of private employers who provide pension, retirement, or profit-sharing plans; and private employers who provide insurance coverage. Wrap plans are a function of complying with ERISA’s plan document and summary plan description (SPD) requirements. Remember: Wrap plans are an easy way to create the companion ERISA language to the insurance certificates so that when dist...
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Categories: Benefits in General, Compliance | Tags: ERISA , DOL , Wrap Plans , SPD , Summary Plan Description , Plan documents , 5500 , Compliance Services
In response to an October 2017 Executive Order, the Department of Labor recently released proposed rules that would make it easier for small businesses and sole proprietors to band together to purchase and provide health insurance through association health plans.
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Categories: Health Care Reform | Tags: AHP , Association Health Plan , Department of Labor , DOL , Affordable Care Act , ACA , proposed rules , small employers
The Department of Labor (DOL) recently published the Final Rule regarding the DOL Penalties Inflation Adjustment Act Annual Adjustments for 2018 setting forth the inflation-adjusted civil monetary penalties for violations pertaining to health and welfare benefit plans and pension and retirement plans. The 2018 adjustments are effective for penalties assessed after January 2, 2018, with respect to violations occurring after November 2, 2015.
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Categories: Benefits in General, Compliance | Tags: DOL , 2018 , Penalties , Penalty , Violation , Inflation
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