Employers with employee benefit plans that operate on a calendar year basis must file their annual reports (Forms 5500) for 2021 with the Department of Labor (DOL) by Aug. 1, 2022. An employer may extend this deadline by two and one-half months (until Oct. 17 2022) by filing IRS Form 5558 by Aug. 1, 2022. Read more…
The No Surprises Act (NSA) includes transparency provisions requiring group health plans to report information on prescription drugs and health care spending. This requirement applies to group health plans and health insurance issuers in the individual and group markets but does not apply to account-based plans and excepted benefits. The NSA required the report be provided by Dec. 27, 2021, and by June 1 of each year thereafter. However, an interim final rule deferred enforcement of the initial deadline to Dec. 27, 2022. Read more…