DOL Asking Questions Regarding Electronic Disclosure

The DOL has asked 30 questions seeking to obtain views and suggestions regarding electronic disclosure. The DOL previously provided a safe harbor for electronic distribution in 2002.  In response to the President's Executive Order which "reaffirmed the importance of achieving regulatory goals through the most innovative and least burdensome tools available" the DOL is seeking input from participants, beneficiaries, plan sponsors, plan administrators as well as the general public.  Comments must be submitted by June 6, 2011; let's hope that this deadline is extended.

W-2 reporting postponed

The Affordable Care Act required informational reporting regarding the aggregate cost of employer sponsored group health plan coverage to be included in W-2s and was originally scheduled to be effective with the 2011 calendar year.  Notice 2010-69 provided transition relief until 2012 although employers could voluntarily elect to include the information in 2011.  The IRS has recently issued Notice 2011-28 which provides further relief. Read more in our ErisaALERT

DOL posts more FAQs on grandfathering

The DOL  published FAQs About Affordable Care Act Implementation (Part VI) on Friday April 1st.

There are 6 Q&A's discussing grandfathering, including

• bona fide employment based reasons that will not cause loss of grandfathered status
• impact of the availability of a generic drug for a drug that was previously brand name only
• mid year plan changes