2024 Health and Welfare Plan Challenges for Plan Sponsors, Administrators, and Counsel

Strafford

Impact of New Fiduciary Rule on Plans and HSAs, Health Plan Litigation, Drug Pricing, Transparency Issues, Disclosures, Use of PEOs

This CLE webinar will provide guidance to employee benefits counsel on recent DOL updates and legislation impacting health and welfare plans and key issues for plan sponsors and third-party administrators. The panel will discuss the impact of the new fiduciary rule for health plans and HSAs, navigating fiduciary duty claims, prescription drug pricing, transparency issues, use of professional employer organizations, and other key issues for health and welfare plan sponsors, administrators, and their counsel.

Description

The DOL has an active enforcement program focused on health and welfare plans stemming from recent legislation over the last few years. ERISA counsel, fiduciaries, and administrators must ensure strict compliance with current regulations and implement procedures to overcome administrative challenges.

The administrative challenges and compliance failures for health and welfare plans can lead to lawsuits and significant penalties. The enactment of the CAA significantly impacts the administration and fiduciary obligations for health plans. Recent DOL and the Department of Health and Human Services guidance for compliance focuses on (1) plan contracts and the removal of "gag clauses"; (2) determining "reasonableness" for vendor fees and services; (3) prescription drug reporting; (4) transparency and mandated disclosures; and (5) access to care, including mental health, along with other key items that must be considered. In addition, the recently modified fiduciary rule significantly impacts the administration of health and welfare plans.

The DOL's key areas of focus for audits and enforcement will encompass the aforementioned items in addition to other critical issues. ERISA counsel must identify potential compliance pitfalls and understand the required documentation and procedures, audit triggers, and plan provisions targeted by the DOL and IRS to minimize these plan administration issues.

Listen as the panel discusses significant compliance issues for health plan sponsors, the impact of the new fiduciary rule for health plans and HSAs, prescription drug pricing, transparency issues, use of professional employer organizations, and other key issues for health and welfare plan sponsors, administrators, and their counsel.

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