Federal Requirements for Fully Insured and Self-Funded Plans - Bim Group

Federal Requirements for Fully Insured and Self-Funded Plans

A plan sponsor’s requirements under federal law will vary depending on factors such as group health plan design, size, grandfathered status, and whether the plan is fully insured or self-funded.

The lists HERE highlight the main federal requirements that apply when a plan is fully insured and when a plan is self-funded.

 

 

 

 

 

Recent Insights

October 30, 2024
News

Dear HR Manager

Dear HR Manager, I’ve recently been promoted to a leadership role and want to ensure I’m the best boss I can be. What steps can I take to lead effectively and create a positive environment for my team? – New to Leadership   Dear New to Leadership, Congratulations on your new role! Becoming an outstanding leader […]
Read more
October 15, 2024
HR Elements

Simplifying HR Processes with AI

READ TIME: 4 MINUTES AI is becoming crucial as HR looks to enhance efficiency, streamline processes, and offer personalized solutions. From creating HR materials to improving the recruitment process, AI’s integration is driving a shift in the way organizations support and engage their workforce. According to a recent survey, 44% of employers said they use […]
Read more
October 15, 2024
Compliance Alert

September 2024 Compliance Recap

READ TIME: 7 MINUTES September brought the due date for the Summary Annual Report, which summarizes the Form 5500 contents. Employers prepared to send out the required Medicare Part D Creditable Coverage letters to eligible participants and enrolled beneficiaries. The Departments released final rules on the MHPAEA NQTL analysis. California insurers are required to cover […]
Read more
October 15, 2024
Webinar

Webinar: Compliance Considerations for Self-Funding

Tuesday, November 12, 2024 1 – 2PM CST Register Now Registration Code:UBA410EW Gain insights into: The impact of state and federal regulations on self-funded plan design, cost, and administration The role and responsibility of third-party administrators The ERISA documents, reporting, and disclosures required for a self-funded plan Be able to answer these questions:​ How do […]
Read more