A team of investigators found that health plans corrected or removed just 38% of the inaccurate entries within about a year, instead of 90 days required by federal law.
The DOL has “shared information with class action law firms to give them a leg up in federal litigation,” House Committee Chair Rep. Virginia Foxx wrote to the DOL’s Inspector General.
Supporters say it can help the members free themselves from state requirements that drive up the costs, while opponents argue that the arrangements will weaken the fully insured market, by luring away the healthiest individuals and groups.
The post of administrator of the Centers for Medicare and Medicaid Services would give Mehmet Oz a central role in regulating commercial group health insurance.
The Department of Labor’s Retirement Savings Lost and Found database, which is expected to go live next month, still needs help from plan administrators on participants who left the company.
The voluntary benefits marketplace has evolved into a sophisticated, integrated solution, requiring employers to offer more personalized, comprehensive, and data-driven benefits packages that appeal to a diverse workforce and increase participation and utilization.
The push and pull between customization and privacy presents a puzzle and an opportunity for benefits advisors who want to go beyond having a transactional relationship with their clients and become trusted advisors.