The U.S. Department of Labor (DOL) has drafted a regulation designed to facilitate employers’ use of electronic delivery systems as the default option when dealing with the Employee Benefits Security Administration (EBSA) and other federal agencies. The federal Office of Information and Regulatory Affairs (OIRA), a division of the Office of Management and Budget (OMB), is currently reviewing the draft regulation.
OIRA held a teleconference with representatives from the benefits industry regarding the potential impact of the regulation. Attendees included OMB and DOL officials, the ERISA Industry Committee (ERIC), and the Business Group on Health, which represent employers, UnitedHealth Group, and the Environmental Paper Network, which promotes reducing paper use. OIRA expects the regulation to be published soon in the Federal Register as part of the rulemaking process.
The teleconference highlighted the industry’s preference that e-delivery be the default option for health plans. They claim that their significant savings from costly paper requirements can improve healthcare services for workers. Furthermore, ERIC presented a report from Ipsos, a research consulting firm. The resulting report indicated that 91% of survey participants enrolled in health plans governed by ERISA most frequently view information about their plans through electronic systems rather than in paper form. The survey also found that 78% of participants would choose e-delivery as the default information delivery option, including 71% of survey participants ages 45 through 64.
HBL has experience in all areas of benefits and employment law, offering a comprehensive solution to all your business benefits and HR/employment needs. We help ensure you are in compliance with the complex requirements of ERISA and the IRS code, as well as those laws that impact you and your employees. Together, we reduce your exposure to potential legal or financial penalties. Learn more by calling 470-571-1007.
