Relying on only your broker can put you and your benefit plans at risk for significant fines, penalties & lawsuits.
Over the past 12 years, 32% of health and welfare plans audited received DOL fines in excess of $10,000 due to ERISA and Form 5500 violations.
Employers are exposed to significant fines, penalties and lawsuits because they’re mistakenly told their voluntary benefits aren’t subject to ERISA.
New requirements are effective March 26. Have you determined if you comply?
As part of health care reform, the federal government mandated that a HIPAA audit program be developed to ensure compliance with HIPAA’s privacy and security rules and its breach notification standards. Expansion of the program is around the corner, and all health care providers and their business associates must be prepared.
The Supreme Court’s decision upholding healthcare reform puts companies on notice that compliance avoidance is no longer an option.
Mandated by the HITECH Act along with the American Recovery and Reinvestment Act of 2009, audits enforcing HIPAA are to be conducted on a proactive basis.
“The IRS issued new guidelines for IRS auditors to review COBRA compliance.” “Your best defensive would be a proactive, self-audit” says Jeremy J. Sharp, a partner with the law firm Walter & Haverfield.