Compliance December 16, 2012

Health Plan Audits Underway

December 14, 2012 (PLANSPONSOR.com) – The Department of Labor (DOL) has updated its audit protocols for group health plans.
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An increase in Patient Protection and Affordable Care Act (PPACA) enforcement is underway, and many plan sponsors have already received notices in response to updated audit protocols from the DOL’s Employee Benefits Security Administration (EBSA), according to a Jackson Lewis client alert.   

The updated protocols include a review of plans’ compliance with the PPACA, the Genetic Information Nondiscrimination Act (GINA) and wellness programs. Also under consideration will be plans’ compliance with federal statutes and regulations, including the Employee Retirement Income Security Act (ERISA), the Health Insurance Portability and Accountability Act (HIPAA), the Consolidated Omnibus Budget Reconciliation Act (COBRA) and the Women’s Health and Cancer Rights Act.   

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Audit notices from the DOL, such as the example here, provide insight into the kind of information EBSA is requesting.   

Employers currently preparing for the impending changes under the health care reform law can expect to be asked to provide information and documentation concerning particular aspects of the PPACA, such as their plans’ grandfather status, coverage for adult children, lifetime and annual limits, and claims and appeals procedures.   

The DOL will also be looking at the design of wellness programs (see “Regulators Issue Guidance About Wellness Programs”) offered in conjunction with group health plans and the related, required notices that have to be provided with outcome-based programs.   

 

Sara Kelly 

Deals and People December 14, 2012

Security Benefit Adds to DC Team

December 14, 2012 (PLANSPONSOR.com) – George M. Beale and Jeffrey D. Kayajanian have joined Security Benefit Corp.'s defined contribution (DC) group. 
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As field vice presidents serving the western part of the country, Beale and Kayajanian work with advisers who sell and service defined contribution plans in the Employee Retirement Income Security Act (ERISA) marketplace with a focus on 401(k) plans.

The addition of Beale and Kayajanian is part of Security Benefit’s initiative to build an independent distribution structure focused on adviser business models and affiliations. 

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Beale has more than 20 years of experience in sales and regional sales management of 403(b), 457 and 401(k) plans, working previously at Securities America, MetLife, ING and Security First Group. Based in Denver, Beale works with advisers in the Midwest and Rocky Mountain states, from Montana south and east to Louisiana, including Texas. He holds a bachelor’s degree in finance from Arizona State University.

Kayajanian, also with 20 years of experience, brings extensive knowledge of 401(k) and annuity sales. Formerly a divisional vice president at The Hartford’s retirement plans group, Kayajanian has also served as national sales manager at State Street Research and was a regional vice president for ReliaStar Retirement Plans. Before that, he was affiliated with AXA/Equitable Annuities and Guardian Life.

Based in Solana Beach, California, Kayajanian supports advisers in Arizona, California, Oregon, Nevada, Utah and Washington. He holds a bachelor’s degree in business administration from California State University at Fresno, and a master’s degree in business administration from Pepperdine University.

Security Benefit Corp. provides retirement savings and income vehicles for pre- and post-retirees.

 

—Jill Cornfield

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