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Benefit Plan Sponsors › Disclosure Requirements › Employer Liability Issues

Hall Benefits Law

PBM Contracts Could Expose Plan Sponsors to Fiduciary Liability

Hall Benefits Law on

A plan sponsor’s fiduciary duty to be transparent in Pharmacy Benefit Manager contracts safeguards plan participants’ interests and mitigates the risk of litigation, regulatory penalties, and reputational harm, say Hall...more

Verrill

Does ERISA Work?

Verrill on

On Labor Day, September 2, 1974, Gerald Ford signed the Employee Retirement Income Security Act (“ERISA”) into law. ERISA governs the employee benefit plans (i.e., retirement and welfare plans) of most private employers in...more

Faegre Drinker Biddle & Reath LLP

Things I Worry About (8): DOL Investigations and Unsuspecting Plan Sponsors (2)

Faegre Drinker Biddle & Reath LLP on

As explained in my last post, Things I Worry About (7), the DOL’s EBSA has a number of programs that can restore benefits to plans and participants. Those include: - Civil investigations. - Criminal investigations. -...more

Schwabe, Williamson & Wyatt PC

Year-End Compliance Considerations for Employee Benefit Plans

Schwabe, Williamson & Wyatt PC on

Open enrollment is right around the corner (at least for employers that run calendar-year health benefit plans), so many employers will be updating their benefit communication plans. Though not comprehensive, the following is...more

Bass, Berry & Sims PLC

Enforcement of the Transparency in Coverage Public Disclosure Requirement Rapidly Approaching

Bass, Berry & Sims PLC on

Starting July 1, 2022, employers that maintain group health plans (plans) and health insurance issuers (issuers) will be required to disclose pricing information on a public website in the form of three machine-readable files...more

Faegre Drinker Biddle & Reath LLP

Deadline Approaches for Employers to Post Machine-Readable Files on a Public Website

Faegre Drinker Biddle & Reath LLP on

The July 1st deadline is quickly approaching for non-grandfathered group health plans and issuers to publicly disclose, in accordance with the Transparency in Coverage Final Rules, price information in machine-readable files...more

Verrill

How to Shoot Yourself in the Foot with Your SPD

Verrill on

Benefit plan sponsors sometimes send out Summary Plan Descriptions (SPDs) having given too little thought to the legal consequences. Two recent cases illustrate how an organization can end up in serious and costly litigation...more

Morgan Lewis - ML Benefits

Qualified Retirement Plan Sponsors: Don't Forget About Summary Plan Descriptions

Morgan Lewis - ML Benefits on

While considering year-end tasks and planning for the upcoming year, qualified plan sponsors should think about whether they need to revise and/or reissue their summary plan descriptions (SPDs) in 2022....more

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