Two years after the U.S. enacted healthcare reform, thegovernment continues to issue new regulations piecemeal. Complyingwith the Patient Protection and Affordable Care Act has beenespecially arduous for self-insured companies that provide theirown coverage to employees rather than paying a premium to aninsurance provider.

Self-insured companies got more work last month when theDepartments of Health and Human Services, Labor and Treasury issueda final rule on summaries of benefits and coverage that allcompanies must provide to new enrollees and special enrollees onthe first day of the plan year beginning after Sept. 23.

The summaries were a hotly contested topic for self-insuredcompanies, which argued that the new write-ups would duplicateinformation they are already required to provide under ERISA andcould confuse employees. The government listened to such concerns,but rejected a proposal from business groups to exempt self-insuredcompanies from the requirement to provide such summaries.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.