How difficult is it to keep self-funded health plans in compliance?
Benecon ensures compliance for self-funded health plans, covering ERISA and HIPAA regulations, providing full support.
Some employers shy away from self-funding based on the amount of compliance they need to recognize. This is why Benecon consortium programs include full compliance support. We help consultants and employers understand the compliance details, so they can focus on what they do best. In this case, keeping a Benecon self-funded health plan in compliance is 100% easy. Here are some of the key compliance topics that our team can help you with:
- ERISA: The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that governs most private pension and health plans in the United States. ERISA requires employers to provide participants with certain disclosures about their plans, including information about plan benefits, costs, and procedures for filing claims. ERISA also sets forth fiduciary standards for plan sponsors, which means that employers must act prudently and in the best interests of plan participants.
- HIPAA: The Health Insurance Portability and Accountability Act of 1996 (HIPAA) is a federal law that protects the privacy and security of health information. HIPAA applies to all health plans, including self-funded health plans.
