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News & Updates

Latest Healthcare Fiduciary Lawsuit Filed Against Wells Fargo

  • On September 9, 2024
Following in the footsteps of the class action suit filed against Johnson & Johnson earlier this year, another group of employees filed a breach of fiduciary duty lawsuit against Wells Fargo. The lawsuit, Navarro v. Wells Fargo & Co., contains many of the same allegations as the Johnson & Johnson case. This is the latest in an emerging […]
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Happy 50th Birthday, ERISA!

  • On September 9, 2024
The Employee Retirement Income Security Act of 1974 (ERISA) marked its 50th anniversary on September 2, 2024. Over the past five decades, ERISA has served as the primary federal law governing employee benefit programs. Major federal legislation affecting group health insurance plans, including the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA), the Health Insurance […]
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HR Insight: The Benefits of Employee Resource Groups

  • On September 9, 2024
The Benefits of Employee Resource Groups Employee Resource Groups (ERGs) have become increasingly prevalent in organizations to promote diversity, equity, and inclusion (DEI). These voluntary, employee-led groups are designed to bring together individuals who share common characteristics or experiences, such as race, gender, sexual orientation, and disability, or can even be based on shared experiences, […]
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Updated Federal Penalties for Health Plan Violations

  • On September 3, 2024
The federal Department of Health and Human Services released updated penalty amounts for certain health plan violations that may occur on or after January 15, 2025. These penalty increases are separate from any penalty increases the federal Department of Labor may announce later this year for ERISA violations. The new penalty amounts by infraction are […]
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Is Your Clients’ Generosity Hurting Their Benefit Plan?

  • On August 26, 2024
Employer-sponsored group benefit plans are generally designed to cover only employees who actively work a minimum number of hours. When employees take short-term leave for vacations, holidays, or sick days during the normal course of business, their benefits continue uninterrupted. Generosity begins to hurt employer benefit plans when they are improperly administered during leaves of […]
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MMO: 8/20/24 Broker Update

  • On August 20, 2024
Three Things for Paramount Members to Remember About Their Health Plans, Reminder: Bonus Opportunity for 364-Day Short-Term Policies Written Before Aug. 31
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Don’t Forget Summary Annual Reports

  • On August 19, 2024
If a group health plan covers 100 or more participants on the first day of the plan year, then the plan sponsor (usually the employer) must file an annual report with the Department of Labor and the Internal Revenue Service, known as Form 5500. This requirement applies to all group health plans meeting the size threshold, […]
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