CCS Alert - DOL Extends Retirement Plan Fee Disclosure to July 1, 2012
February 15, 2012
The Department of Labor (DOL) has published the final rule for the Retirement Fee Disclosure Regulation extending the applicability date to July 1, 2012.
The regulation requires retirement plan service providers to disclose fee and service information to assist plan sponsors in fulfilling their fiduciary obligations under Section 408(b)(2) of the Employee Retirement Income Security Act of 1974 (ERISA). The new regulations impact all retirement plans subject to Title I of ERISA, including Defined Contribution and Defined Benefit plans. The final regulations were to be effective July 16, 2011.
CCS Alert - HHS Issues Final Regulation on Summary of Benefits and Coverage Provision
February 14, 2012
The Department of Health and Human Services (HHS) has issued its final rule regarding the Summary of Benefits and Coverage (SBC) provision of the Patient Protection and Affordable Care Act (PPACA) confirming an effective date of September 23, 2012.
Key differences between the proposed and final rules include: • Premium amounts are no longer mandatory on the SBC. • If a consumer is eligible for coverage but not yet enrolled, plans may send a paper postcard electronically or through regular mail to provide instructions for accessing the SBC online. • “Best efforts” are allowed for describing terms that do not lend themselves well to plain language; e.g., tiering for prescriptions and providers. • Coverage examples illustrating how plans would cover treatment and services were reduced from three medical scenarios to two (having a baby and managing type 2 diabetes). • SBCs for group health plans may now be included with other documents (e.g., Summary Plan Descriptions) as long as it is “prominently displayed” at the beginning of the document.
CCS Alert - CMS Online Disclosure Due by February 28 for January 1st Plans
February 9, 2012
For groups with a January 1 renewal, the Online Disclosure form to report the creditable coverage status of your prescription drug plan (Medicare Part D) is due by February 28, 2012; https://www.cms.hhs.gov/CreditableCoverage/45_CCDisclosureForm.asp.
The Disclosure should be completed annually no later than 60 days from the beginning of a plan year (contract year, renewal year), within 30 days after termination of a prescription drug plan, or within 30 days after any change in creditable coverage status.
Below is detailed information on creditable coverage as we provided in our September 14, 2011 CCS Guidance.
CCS Knowledge Exchange - HR Planning for 2012
January 10, 2012
The Future’s So Bright You Gotta Wear Shades
The New Year is here and with it comes new legislation and changes to government regulations. Now is the time to tune your policies, and insure you are compliant and using resources efficiently. Corporate Consulting Services wants to help you prepare.
Our informative HR Planning seminar covered action items for your 2012 HR plan, and identified initiatives you can execute to better position your organization for 2012.
CCS Webinar - ADA Amendments Act - What Employers Need to Know
June 9, 2011
The final regulation of the Americans with Disabilities Act Amendments Act of 2008 (ADAAA) went into effect on May 24th, 2011. What do employers need to know? Our informative, concise webinar reviewed the most pertinent information in these new regulations.
CCS Webinar - Creative Healthcare Solutions: HSA, HRA and Self Funding
May 12, 2011
As health insurance premiums continue to rise, employers are increasingly looking for ways to manage costs. Join us for an informative, concise webinar during which we will review creative strategies for controlling health insurance premiums.
