The Consolidated Appropriations Act, 2021 (CAA) passed in December 2020 and established the plan sponsor as the fiduciary under ERISA/PHSA/IRS tax code. This new legislation has significant implications for employer-sponsored health plans and the brokers who support them.
Recently, InCite Performance Group partnered with Innovu to host a webinar on the implications of CAA for plan sponsors (employers). This article will go over the key points of that discussion, followed by a separate Q&A interview on CAA with the CEO of Innovu, Hugh O'Toole.
By the end of this article, you will better understand how the CAA can offer an opportunity for benefits brokers to open new doors and educate buyers on a significant and eminent change to our industry.
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