On May 28, 2003, the U.S. Department of Labor ("DoL") issued proposed regulations on COBRA continuation coverage notice requirements. The proposed regulations include content standards for each type of required notice and provide sample forms for certain of the required notices. This Alert focuses on the significant changes applicable to single employer health plans. Even though they are only proposed, the regulations are important for a number of reasons ...
On October 16, 2003, the Health Insurance Portability and Accountability Act (“HIPAA”) requires employer-sponsored group health plans and others to be in compliance with the Transaction and Code Sets (“TCS”) standards for electronic transactions adopted by the Department of Health and Human Services (“HHS”). The federal government has been warned of potential disruption in the claim submission and payment cycles because the health care industry remains substantially non-compliant ...
With the passing of April 14, 2003, large health plans (those with more than $5,000,000 in annual receipts) became subject to the privacy regulations issued under the Health Insurance Portability and Accountability Act (HIPAA). However, more HIPAA deadlines loom on the horizon ...
As seen in the Houston Business Journal
A recent U.S. Court of Appeals decision underscores the importance to plan administrators of maintaining proper procedures for the distribution of summary plan descriptions (SPD’s) under ERISA. Each participant in a plan which is subject to ERISA must be furnished an SPD satisfying ERISA’s content requirements within 90 days after he or she becomes a participant ...
Now that the 60-day deadline for filing new legislation without suspension of the rules has passed, for all practical purposes all legislation that will be offered this session has now been filed. Bills that could impact Texas employers generally, are listed by bill number and contain author, the committee the bill has been referred to, and any action that has been taken. House of Representatives H.B ...
The Department of Labor (“DoL”) has issued final rules that implement the pension blackout provisions of the Sarbanes-Oxley Act of 2002 (the “Act”). These rules require plan administrators of individual account plans to deliver advance notice of blackout periods and will be effective for blackouts which begin on or after January 26, 2003 ...
Today – more than ever – corporate management is under attack. In the wake of the Enron debacle, corporate decisions are more carefully scrutinized, and the conduct of the company’s directors and officers are now constantly under the watchful eyes of investors, creditors, and government regulators ...
Florida West Coast Employee Benefits Council This outline looks at the privacy regulations as modified by the August 14, 2002, final modifications and how they apply to group health plans. This outline also considers the impact of the guidance issued by the Office of Civil Rights of the Department of Health and Human Services on December 4, 2002 ...
Florida West Coast Employee Benefits Council The following chart attempts to summarize some of the types of group health plans and which of the HIPAA privacy notice and administrative requirements apply to the plan. No one should rely on this as legal advice. In every situation, the application of the rules requires careful analysis of one's own counsel who is familiar with your particular situation ...
I. Why now? The rapidly increasing cost of health care, with the resulting increase in the cost of employer-provided health benefit plans, has caused employers to search for ways to contain their health plan expenses. Rising costs, along with general employee dissatisfaction with the lack of choice of health care providers under many plans and the perceived lack of quality within many of the networks available to employees, has created an environment ripe for new ideas ...
The Internal Revenue Service previously announced that in order for qualified retirement plans to be in compliance with the requirements of the Economic Growth and Tax Relief Reconciliation Act of 2001 (“EGTRRA”), those plans must make the necessary good faith amendments by the later of (i) the last day of the plan year in which the EGTRRA changes apply, or (ii) the end of the GUST remedial amendment period for the plan. For most plans, the EGTRRA changes apply for the 2002 plan year ...
The recent accounting frauds and corporate scandals have many in-house counsel, as well as directors and officers, re-examining their responsibilities, obligations, and potential liabilities. New legislation, SEC regulations, stock exchange listing standards and public, media and shareholder scrutiny are imposing new or expanded processes for corporate accountability, financial reporting and business practices ...
Introduction Although companies may understand the importance of protecting their original ideas, many of them do not know how to do so most effectively. Without an effective intellectual property management system, such companies may be squandering business opportunities and allowing competitors to misappropriate their intangible assets. An intellectual property (IP) audit is a necessary first step for all companies interested in evaluating and maximizing their IP assets ...
The Department of Labor (“DoL”) has issued rules that implement the pension blackout provisions of the Sarbanes-Oxley Act of 2002 (the “Act”). These rules require plan administrators of individual account plans to deliver advance notice of blackout periods and will be effective for blackouts which begin on or after January 26, 2003 ...
ALI-ABA Pension, Profit-Sharing, Welfare, and other Compensation Plans; Washington, DC Many of the defined contribution health plans being marketed involve a higher deductible indemnity type of coverage either with or without a network of managed care providers (the “Policy”) accompanied by a “personal care account” or “PCA” which is funded either by employer, employee or both contributing to the PCA ...
A SUMMARY OF THE FINAL REGULATIONS ON THE STANDARDS FOR PRIVACY OF INDIVIDUALLY IDENTIFIABLE HEALTH INFORMATION ISSUED DECEMBER 28, 2000 AS MODIFIED BY THE FINAL REGULATIONS ISSUED ON AUGUST 14, 2002 CAVEAT: This outline summarizes the HIPAA Privacy Regulations as modified. No one should rely on this as legal advice. In every situation, the application of the rules requires careful analysis of a counsel who is familiar with your particular situation. I ...
A PowerPoint presentationcovering the following: Senate Report on Board's Role in Enron's Collapse Typical Accounting Allegations Reasons for Restatements 1997-2000 Securities Suit Catalysts Messages to the Market... ...
The deadline for compliance with the Health Insurance Portability and Accountability Act of 1996 final regulations regarding standards for electronic claims transactions, October 16, 2002, is quickly approaching ...
Approaching Compliance with Privacy Regulations Under the Health Insurance Portability and Accountability Act of 1996, including Final Modifications In 1996, Congress passed the Health Insurance Portability and Accountability Act (“HIPAA”). In 2000, the Department of Health and Human Services issued final regulations under HIPAA establishing privacy standards for certain individually identifiable health information ...
Appeared in Lone Star Express, a puclication of the Lone Star Chapter of the Healthcare Financial Management Association, September 2002. The recent reports of corporate fraud, improper accounting practices, and mismanagement have resulted in new legislation and stock exchange standards for publicly-traded corporations. In order to restore confidence in the nation’s financial markets, President George W ...
Most of the attention about the Sarbanes-Oxley Act of 2002 (Act), signed into law by President Bush on July 30, 2002, has been focused on the reform of public accounting firms and the financial reporting obligations of publicly held companies. However, the Act has other provisions that potentially impact a much broader range of employers ...
Issued December 28, 2000 as Modified by the Final Regulations Issued on August 14, 2002
HIPAA Privacy Primer for Group Health Plans The HIPAA Privacy regulations will apply to group health plans beginning on April 14, 2003. The HIPAA Privacy regulations require changes in group health plan contracts and operations and impact the entire organization sponsoring the group health plan ...
Our Approach Haynes and Boone, LLP believes employers should determine the degree to which outside assistance is required in meeting their obligations under HIPAA’s privacy rules. Some groups are offering, at substantial fixed fees, turnkey packages for HIPAA privacy compliance. We do not think, however, that is the most efficient or economical way for many employers to address their responsibilities under the privacy rules ...
