New ERISA Update! Patients' Bill of Rights!

The Employment Retirement Income Security Act (ERISA) of 1974 has been revised to include a final regulation that will change the minimum requirements for benefits claims. The new regulation is effective 1/20/01 (is it a coincidence that this occurs on Innauguration Day?).

The new regulation establishes new standards for processing claims under group health plans and plans providing disability payments. The new standards are intended to ensure more timely benefit determinations, to improve access to information on which a benefit determination is made, and to assure that participants and beneficiaries will be afforded a full and fair review of denied claims.

When announcing the new rule, President Clinton urged further legislative reform of managed healthcare, saying that what Americans needed was "a real, enforceable patients' bill of rights."

View the entire final rule.

You may like these other stories...

By Jason Bramwell, Staff WriterA recent survey of nearly 100 US financial executives by Deloitte LLP found that 42 percent of respondents pointed to the Affordable Care Act as the reason they had to pass further health care...
By Ken Berry Flexible spending accounts (FSAs) used for health care expenses just became slightly more flexible. On October 31, the IRS announced that employers can modify the "use-it-or-lose it" rule...
Dementia has become the number one cause of disability globally, according to the World Health Organization. Stroke, which can also profoundly impair judgment and decision making, stands at number two. "This year,...

Upcoming CPE Webinars

Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.