EBSA
Federal agency responsible for regulations under EBSA.
12 regulationsImproving Transparency into Pharmacy Benefit Manager Fee Disclosure
This new rule requires pharmacy benefit managers—the companies that manage prescription drug benefits for health insurance plans—to be more transparent about the fees they charge. The goal is to help employers, insurers, and patients better understand how much these middlemen are being paid and whether those costs are reasonable.
Transparency in Coverage
This regulation requires health insurance companies and health plans to be more transparent about what medical services and treatments actually cost before you receive them. The goal is to help people understand their out-of-pocket expenses upfront so they can make informed decisions about their healthcare and compare prices between providers.
Selection of Annuity Providers-Safe Harbor for Individual Account Plans; Withdrawal
This regulation creates new protections for retirement plan administrators when they select companies to provide annuities (guaranteed income payments in retirement) to workers. It aims to reduce legal liability for plan managers who follow certain safe practices, making it easier for retirement plans to offer annuity options to employees.
Removal of Definition of `Plan Assets'—Insurance Company General Accounts; Withdrawal
The federal government is withdrawing a previous rule that defined how insurance company general accounts should be treated as retirement plan assets. This change affects how retirement plans invested in insurance products are regulated and what protections apply to workers' retirement savings.
Guidance: Pooled Employer Plans: Big Plans for Small Businesses
This regulation makes it easier for small businesses to band together and offer retirement savings plans (like 401(k)s) to their employees by allowing multiple unrelated companies to share one large plan. This helps small businesses afford retirement benefits that were previously too expensive to offer individually.
Selection of Annuity Providers: Safe Harbor for Individual Account Plans
This regulation creates new rules for how retirement plans can choose companies to provide annuities—financial products that pay people money regularly in retirement. It establishes a 'safe harbor,' meaning plan managers won't face legal trouble if they follow these specific guidelines when picking an annuity provider.
Definition of Plan Assets—Insurance Company General Accounts
This regulation clarifies how the federal government defines and treats assets held in insurance company accounts that are part of employee retirement plans. The rule affects how retirement savings are protected and regulated when they're invested through insurance companies.
Removal of Interpretive Bulletins Relating to the Employee Retirement Income Security Act
The federal government is removing old guidance documents that explained how the Employee Retirement Income Security Act (ERISA) works, which is the main law governing employer retirement and health plans. This means companies and plan administrators will no longer have these official interpretations to guide their decisions, potentially creating uncertainty about how to follow the law correctly.
Request for Information: Prescription Drug Machine-Readable File Requirement in the Transparency in Coverage Final Rule
The federal government is asking for public feedback on new rules that would require health insurance companies to provide prescription drug pricing information in a computer-readable format so patients and doctors can easily compare costs before filling prescriptions. This change aims to make it simpler for people to understand what they'll pay for medications and find the most affordable options.
Voluntary Fiduciary Correction Program
This regulation creates a voluntary program that allows retirement plan administrators and financial professionals to correct certain mistakes they've made with retirement savings without facing severe penalties. It gives people and organizations a chance to fix errors affecting workers' retirement accounts and get back into compliance with federal rules.
Prohibited Transaction Exemption (PTE) 2002-51 to Permit Certain Transactions Identified in the Voluntary Fiduciary Correction Program, Exemption Amendment
This regulation allows retirement plan administrators to correct certain financial mistakes without facing penalties, as long as they follow a specific voluntary correction program. It matters because it helps ensure retirement savings are protected and gives plans a fair way to fix errors without harsh consequences.
Enhancing Coverage of Preventive Services under the Affordable Care Act
This proposed rule would expand the types of preventive health services that health insurance plans must cover for free under the Affordable Care Act. The goal is to help more people get preventive care like screenings and vaccines without having to pay out-of-pocket costs.