The Department of Labor, Internal Revenue Service, and Pension Benefit Guaranty Corporation are working on a proposed rule (RIN: 1210-AC01) to revamp reporting requirements for employee benefit plans through Form 5500. This rule is expected to be released in September.
House Democrats have called for the US Department of Labor to strengthen reporting requirements for self-funded health plans in the annual disclosure process. They believe that this is an important step to ensure transparency and accountability in employee benefit plans. Ranking member Bobby Scott and Subcommittee ranking member Mark DeSaulnier have expressed their support for enhancing reporting requirements for self-funded health plans in order to provide better oversight and protection for plan participants. They believe that this is essential for ensuring that employees have access to quality and affordable health care benefits.
