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“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
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Search the News Archive
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19 Matching News Items |
| 1. |
Berry, Dunn, McNeil & Parker, LLC
June 24, 2025
"Artificial Intelligence (AI) offers healthcare finance professionals powerful tools to shift denial management from reactive to proactive, significantly enhancing operational efficiency and financial performance. This article explores the use of AI technologies in preventing and managing denials, outlines an implementation strategy, presents case studies, and discusses challenges and future trends."
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| 2. |
Berry, Dunn, McNeil & Parker, LLC
Apr. 1, 2025
"To address evolving threats and regulatory challenges, OCR has issued proposed modifications to the Security Rule, introducing stricter security controls, mandatory encryption requirements, and a shift away from 'addressable' implementation specifications. While these changes aim to improve data security, they also introduce new compliance burdens that could be challenging for many regulated entities."
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| 3. |
Berry, Dunn, McNeil & Parker, LLC
Nov. 7, 2024
"[A]lthough long-term part-time employees will be allowed to make elective deferrals into 401(k) and 403(b) plans, management may choose whether to provide non-elective or matching contributions to such participants. These participants also may be excluded from nondiscrimination and top-heavy requirements. This requirement will create unique tracking challenges as plans will need to track hours worked for recurring part-time employees over multiple years."
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| 4. |
Berry, Dunn, McNeil & Parker, LLC
Jan. 23, 2024
"[This DOL report] covers the last year before auditors were required to comply with the new Statement on Auditing Standards (SAS) No. 136 ... Of the 307 plan audits reviewed, 30% contained major deficiencies ... The audit areas with the most deficiencies were participant data (15.6%), contributions received and receivable (15.3%), and benefit payments (9.4%)."
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| 5. |
Berry, Dunn, McNeil & Parker, LLC
Dec. 18, 2023
"Effective oversight of service provider vendors is essential for managing risk and potential adverse impacts to your reputation.... Unlike functions that are performed in-house, when services are outsourced, you may have limited information on hand and less control over the process. A System and Organizational Controls (SOC) report can be an invaluable tool in helping you gain confidence about the controls at your service providers."
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| 6. |
Berry, Dunn, McNeil & Parker, LLC
Aug. 16, 2023
"Effective January 1, 2024, catch-up contributions will be required to be made on a Roth basis for participants with wages greater than $145,000 (indexed annually for inflation) in the prior year.... [Plan sponsors should reach out] to payroll providers and recordkeepers today to see how they plan to approach compliance with the new provision. These conversations should not be independent of one another -- it will take a concerted effort amongst plan management, payroll providers, and recordkeepers to help ensure compliance."
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| 7. |
Berry, Dunn, McNeil & Parker, LLC
July 27, 2023
"The DOL's recent changes to Form 5500 redefine large plans by the number of participants with account balances on the first day of the plan year.... This provision will significantly change the threshold for the status of large versus small plans. The DOL estimates 19,500 large plans will no longer be subject to the annual audit requirement relating to this participant-count methodology change."
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| 8. |
Berry, Dunn, McNeil & Parker, LLC
July 20, 2023
"When valuing controlling ownership interests, valuation analysts often restate above- or below-market items (compensation, bonuses, rent, etc.) to a fair market level to reflect what a hypothetical buyer would pay.... If you reduce executive compensation for valuation purposes, the share price increases, putting a heavier burden on the company when you redeem shares. The company, which already has reduced income from paying above-market executive compensation, may struggle to redeem shares at the established price."
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| 9. |
Berry, Dunn, McNeil & Parker, LLC
Dec. 8, 2022
"Here are some ways the federal government is assessing the benefits and risks cryptocurrencies pose to consumers, investors, and businesses.... [P]lan sponsors may want to take a long‑term perspective ... Given today's massive surge in the variety and scope of digital assets, plan sponsors should seek to understand their role in the financial landscape before rushing to implement changes."
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| 10. |
Berry, Dunn, McNeil & Parker, LLC
Nov. 30, 2022
"While plan sponsors have been able to amend their 401(k) plans to include a post-tax deferral contribution called Roth for more than a decade, only 86% of plan sponsors have made it available to participants ... [Only] a quarter of participants who have access to the Roth 401(k) option use it."
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