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ERISA record retention requirements for health and welfare benefit plans

ERISA record retention requirements for health and welfare benefit plans

by keyseradmin | Apr 19, 2021 | Compliance, Employee Benefits, Human Resources

Employers often wonder how long they are required to retain certain records relating to their employee health and welfare benefit plans. For plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), these rules are detailed in ERISA §107. To ensure...
Fiduciaries breached duties by misusing health plan assets, failing to provide notice of coverage lapse

Fiduciaries breached duties by misusing health plan assets, failing to provide notice of coverage lapse

by keyseradmin | Mar 12, 2021 | Compliance, Employee Benefits

Hammer v. Johnson Senior Ctr., 2020 WL 7029160 (W.D. Va. 2020) When the employee in this case was diagnosed with cancer, she took a medical leave and began treatment. Around the same time, her employer was experiencing internal upheaval and financial pressures, and it...
New Stimulus Deal: Health care cost transparency rules

New Stimulus Deal: Health care cost transparency rules

by keyseradmin | Jan 18, 2021 | Compliance, Employee Benefits

On December 27, 2020, President Trump signed Congress’ most recent stimulus bill into law, covering $900 billion in economic relief for businesses and individuals impacted by the COVID-19 pandemic. The law addresses new substantive requirements for health plans and...
Supreme Court: State regulations on PBM reimbursements to pharmacies not preempted by ERISA

Supreme Court: State regulations on PBM reimbursements to pharmacies not preempted by ERISA

by keyseradmin | Jan 18, 2021 | Compliance, Employee Benefits

By Richard S. Siegel and Jeffrey S. Swyers A recent Supreme Court decision gives states leeway to impose new regulations on pharmacy benefit managers (PBMs), even when PBMs are acting on behalf of ERISA plans. On December 10, 2020, in an 8-0 unanimous decision (with...

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