Handling a DOL Audit with Ease

At any given time, your organization may be selected for a U.S. Department of Labor (DOL) civil investigation (commonly known as an audit) to ensure that your employee benefit plans are in compliance. The Employee Retirement Income Security Act of 1974 (ERISA) establishes standards governing the operation of employee benefit plans and grants the DOL investigative authority.

Traditionally, DOL audits of employee benefit plans have focused primarily on retirement plans, such as 401(k) plans. However, now that the DOL has started enforcing compliance with the Affordable Care Act (ACA), health plan audits are on the rise.

Depending on the complexity of your plan design, availability of documents, degree of cooperation between the DOL and your plan administrators, and the number of potential violations, an audit can take anywhere from several weeks to over a year.

To improve healthcare, employers must move beyond the bottom line

WASHINGTON — When Mark Ganz, president and CEO of Cambia Health — a nonprofit healthcare company — took to the stage at the National Business Group on Health’s annual conference, he had a message for the benefits managers in the audience: Pay more attention to employees, and less to the bottom line.

Excess Flood Coverage for Homeowners

Floods are one of the most common and costliest home hazards, as even minor water damage can destroy a property. While the National Flood Insurance Program (NFIP) can help cover flood damage, it may not cover all of your flood risks.

Purchase Eligible Products on Amazon with Your HSA or FSA

Online retailer Amazon recently announced that you can now use your flexible spending account (FSA) or health savings account (HSA) to purchase eligible medical products on its site. Amazon’s FSA and HSA stores enable you to add your respective health payment card to the site and shop for your eligible products as you would shop for any other item.

IRS Revises Some Benefit Limits for 2018

In direct response to President Trump's October 2017 Executive Order, the Departments of Health and Human Services (HHS), Labor, and the Treasury (the Departments) issued a proposed rule today that is intended to increase competition, choice, and access to lower-cost healthcare options for Americans. The rule proposes to expand the availability of short-term, limited-duration health insurance by allowing consumers to buy plans providing coverage for any period of less than 12 months, rather than the current maximum period of less than three months. The proposed rule, if finalized, will provide additional options to Americans who cannot afford to pay the costs of soaring healthcare premiums or do not have access to healthcare choices that meet their needs under current law.

Health and Human Services Propsing Rule to Revise Short-term Health Plans

In direct response to President Trump's October 2017 Executive Order, the Departments of Health and Human Services (HHS), Labor, and the Treasury (the Departments) issued a proposed rule today that is intended to increase competition, choice, and access to lower-cost healthcare options for Americans. The rule proposes to expand the availability of short-term, limited-duration health insurance by allowing consumers to buy plans providing coverage for any period of less than 12 months, rather than the current maximum period of less than three months. The proposed rule, if finalized, will provide additional options to Americans who cannot afford to pay the costs of soaring healthcare premiums or do not have access to healthcare choices that meet their needs under current law.

Level-funded plan uptake trickling down market

Article by Bruce Shutan of ebn BeneftisNews.com

A brighter light is being cast on level-funded group health plans as benefits decision-makers tackle open-enrollment season. Several industry observers say the trend is more pronounced given that the Affordable Care Act remains largely intact — for now.