With Summer quickly approaching, now is a great time to prepare for the upcoming employee benefit changes. An article from Barran Liebman outlines the Top 10 Employee Benefit Plan Actions set to take place before January 1, 2014. These requirements include:
- Update HIPAA Privacy and Security Policies and Business Associate Agreements by September 23, 2013
- Prepare Coverage Notices for Employees by October 1, 2013
- Prepare Health Plan for 2014 Mandates by January 1, 2014
- Revise Health Plan Waiting Periods by January 1, 2014
- Revise Wellness Program Provisions by January 1, 2014
- Prepare for New Fees and Report in Group Health Plans by January 1, 2014 or 2013 Open Enrollment
- Evaluate Retirement Plan Service Contract by December 31, 2013 for Fiduciary Definitions and Fee Disclosure
- Revise COBRA Notices by October 1, 2013
- Distribute Summary of Benefit Coverage by November 1, 2013 or Sooner
- Update Summary Plan Descriptions and Wrap Documents by January 1, 2014
Read the full Barran Liebman e-alert here.