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.
Employers 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) imposes reporting and notice requirements.
Summary for [Your State]