An employer who invested its employees’ 401(k) contributions in the retail class of mutual fund shares, which bore a higher expense load than the institutional class of shares, was found guilty of breaching its fiduciary duty to properly investigate the fund classes. The employer tried to defend itself by arguing that it…
Read More…Wondering where other employers stand on the grandfathering issue? A recent Grandfathered status allows your plan to avoid compliance with some federal health care reform mandates, but the rules on maintaining grandfathered status are very restrictive and will prevent you from making the kinds of plan or premium contribution changes…
Read More…75 Fed Reg 45014, July 30, 2010). In order to be eligible for the program, an individual must be a citizen or national of the United States or lawfully present in the United States, must not have been covered under creditable coverage during the six-month period prior to applying for…
Read More…If your health plan is maintained pursuant to a collective bargaining agreement, it’s important to understand how the health care reform law’s “grandfathering” rule applies to your plan. The rules play out differently depending on whether you maintain a single employer plan that is collectively bargained or a collectively bargained multiemployer plan. The general…
Read More…Yet another piece of new guidance on the provisions of the federal health care reform law, the Patient Protection and Affordable Care Act, has been jointly issued by the Departments of Health and Human Services (HHS), Labor (DOL) and the Treasury (75 Fed Reg 43330, July 23 2010). This guidance…
Read More…Under federal health care reform laws passed earlier this year, non-grandfathered health plans must provide coverage for specified preventive care services with no cost sharing when delivered by a network provider. The Departments of Health and Human Services (HHS), Labor and the Treasury recently issued guidance on which preventive services…
Read More…By now you’ve probably heard a lot about federal health care reform’s “grandfathering” provision and what you can and cannot do and have your plan remain grandfathered. (See previous blog posts for more information on grandfathering.) But if you’re like many employers, you’re still wondering, “what does grandfathered status really mean for me and my plan?” and “should I…
Read More…The U.S. Department of Health and Human Services (HHS) recently launched a new website, designed to connect consumers with new information and resources to enable them to access quality, affordable health care coverage. website features a central database of health coverage options, including information about public programs, from Medicare to…
Read More…The U.S. Department of Labor has released model notices to meet the following notice requirements imposed by recent federal health care reform guidance: · Notice of Lifetime Limits: This notice contains information on the removal of any lifetime limits on the dollar value of coverage, and of the right to re-enroll in the plan after previously exceeding the plan’s…
Read More…The Department of Health and Human Services has apply now!
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