EBIA Weekly Newsletter

EBIA Keeps You Informed About 401(k) Plans and HIPAA

   June 16, 2016

EBIA has breadth and depth: Employee benefits resources on a broad range of topics that employers and advisors need to stay current, and detailed expert analysis with examples, charts, practical tips, and sample documents. Here are highlights of recent updates to our 401(k) Plans and HIPAA publications.

401(k) Plans. The long-anticipated final DOL regulations defining an investment advice fiduciary have been issued, and we have you covered. Our revised discussion provides an overview of ERISA’s fiduciary rules, the dual role of a plan sponsor as both settlor and fiduciary, and a new discussion that delves into the details of the final regulations. We also revised our coverage of investment education to take into account the final regulations. Other revisions include updating the Form 5500 discussion for the 2015 form, updating our Form 1099-R reporting chart for distributions made in 2016, and a new analysis of fiduciary duties during a plan termination. You may also be interested in our upcoming webinar “Common Mistakes and How to Fix Them: 401(k) Plans(live on 07/21/16).

HIPAA Portability, Privacy & Security. We’ve updated our coverage of compliance audits to address phase 2 of OCR’s audit program and provide tips on preparing for a potential audit. In our discussions of business associates, use and disclosure rules, and security standards, we’ve added “compliance check” text boxes calling out key aspects of the phase 2 audit protocol. We’ve expanded our explanation of individuals’ right to access PHI with analysis of recent guidance. We cover two recent resolution agreements addressing business associate contracts and portable devices storing PHI. And our coverage of guaranteed availability and renewability incorporates provisions from the final 2017 parameters regulations. You may also be interested in our recorded webinar “HIPAA Basic Training: Get Your Privacy and Security Compliance on Track for 2016(recorded on 01/27/16).