2020 DOL Penalty Amounts for ERISA Violations Issued
The U.S. Department of Labor (DOL) has increased the penalties employers face under ERISA for group health plan reporting and disclosure failures. These new amounts apply to penalties assessed after Jan. 15, 2020, and include the following: Summary of Benefits and Coverage (SBC): Failure to provide group health plan participants and beneficiaries with an SBC may now result in a penalty of up to $1,176 per participant or beneficiary. Employer CHIP Notice: Failure to provide a CHIP Notice to employees in states that offer group health plan premium assistance through a state Children's Health Insurance Program may now result in...
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