Benefits Recordkeeping and Disclosures
What do employers need to consider regarding benefits
recordkeeping and disclosures? The Employee Retirement Income
Security Act (ERISA) provides extensive reporting and disclosure
and other administrative requirements for employee benefit plans.
The law and regulations also provide for numerous exemptions from
the various requirements.
Additional disclosure requirements apply to health plans.
The Affordable Care Act (ACA) added many additional
reporting, disclosure, and notice requirements for health plans and
insurers, including additional internal and external appeal requirements
for health insurers and group health plans.
There are other laws that concern employers. They must
also consider the Medicare Part D prescription drug coverage provisions
that impose reporting and disclosure requirements on health plans
that cover Medicare-eligible individuals. Additionally, the Pension Protection Act of 2006 (PPA) added new reporting
and notice requirements.
Summary for [Your State]