Secure 2.0, which Congress passed last year, contains a wide range of retirement provisions that benefit various parties. For example, employees may benefit from this legislation if employers utilize its provisions to provide new financial wellness programs, such as emergency savings accounts and Starter K plans. Emergency Savings Accounts An emergency savings account is fundamental to any financial wellness Read More
How HIPAA Fails: Insurance Companies Acquiring and Using PHI
The purpose of the Health Insurance Portability and Accountability Act (HIPAA) privacy rule was to protect the medical records and protected health information (PHI) of individuals. As a result, insurance companies provide extremely sparse data to employers with less than 250 employees, in the form of large claims data at the end of the year. Insurance companies provide this limited data to prevent HIPAA violations Read More
Employers Await Changes to the Overtime Rule
According to the DOL's most recent regulatory agenda, employers expect to learn the specifics of the U.S. Department of Labor’s (DOL) proposed changes to the overtime rule in May 2023. The reasons for delays in releasing the proposed rule are unclear, although some speculate that it is due to anticipated changes in the Fair Labor Standards Act (FLSA). The delays also may be a function of more pressing matters on the Read More
DOL Issues FAQs about Affordable Care Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 59
The U.S. Department of Labor (DOL), U.S. Department of Health and Human Services (HHS), and the U.S. Department of Treasury, recently issued FAQs concerning the implementation of the Affordable Care Act (ACA) and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), after the decision in Braidwood Management v. Becerra, which invalidated portions of the ACA. Coverage of Preventive Services Public Read More
Biden Issues Executive Order for Federal Agencies to Create “Equity Teams”
President Joe Biden has issued an executive order entitled "Further Advancing Racial Equity and Support for Underserved Communities Through the Federal Government.” The purpose of the executive order is to require federal government agencies to create "equity teams," which identify and address barriers that underserved communities face in accessing the agencies’ services. Agencies must create equity teams within 30 Read More
Potential for Increased Participant Litigation Looms After Appellate Court Decision on Excess Recordkeeping and Investment Fee Claims
The U.S. Court of Appeals for the Seventh Circuit recently took a second look at allegations that a defined contribution plan’s fiduciaries had breached the duty of prudence under ERISA in Hughes v. Northwestern University, 63 F.4th 615, 2023 WL 2607921 (7th Cir. 2023). The plan participants claimed that plan fiduciaries breached the duty of prudence by allowing excessive recordkeeping fees to accumulate, partly Read More
Former Flight Attendant Sues Delta for Discrimination and Retaliation
A former flight attendant recently filed a lawsuit against Delta Air Lines for discrimination and retaliation. George Kaaihue alleges that Delta forced him to retire or be terminated after he complained to a supervisor about co-workers and managers referring to him as a member of the “Asian Mafia,” “Chinese Mafia,” and “Korean Mafia.” Kaaihue is seeking damages in the form of back pay plus interest, reinstatement to Read More
4 Major Benefits Policy Developments In The First Half Of 2023
By Kellie Mejdrich Law360 (June 16, 2023, 2:52 PM EDT) -- Congress and the Biden Administration took several key actions that made an impact on employee benefits policy in the first six months of 2023, including advancing federal legislation cracking down on pharmacy benefit managers, ending emergency designations tied to the coronavirus pandemic, and proposing rules for group health plans on contraceptive Read More
DOL Requests Budget Allocation to Locate Missing Retirement Plan Participants
The U.S. Department of Labor (DOL) has requested that Congress allocate $5 million and 22 full-time employees in its 2024 budget to create a program to locate missing retirement plan participants. In fiscal year 2021, the Employee Benefits Security Administration (EBSA) recovered more than $1.5 billion in lost benefits for over 16,000 elderly retirees and their beneficiaries after their retirement plans lost track of Read More
DOL Issues FAQs about FFCRA, CARES Act, and HIPAA Implementation Part 58
The U.S. Department of Labor (DOL), U.S. Department of Health and Human Services (HHS), and the U.S. Department of Treasury recently released FAQs concerning the implementation of the Families First Coronavirus Response Act (FFCRA), the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), and the Health Insurance Portability and Accountability Act (HIPAA). These FAQS are in response to the Biden Read More
