Covered Plans News Today

Following recent guidance from the Biden Administration, health insurers in the commercial market are covering the costs of over-the-counter COVID-19 tests. Under the new guidance, private insurers must cover up to eight Food and Drug Administration-authorized rapid tests per member per month. This averages out to be about two rapid tests per week for those eligible, according

Senators Warren, Smith urge EBSA to hold Goldman accountable Print Senators Elizabeth Warren of Massachusetts and Tina Smith of Minnesota Tuesday urged the Department of Labors Employee Benefits Security Administration to reconsider plans to exempt the Goldman Sachs Group from penalties for its role in Malaysias 1MDB scandal that would have forfeited the groups rights to manage U.S. workers retirement assets. Despite Goldmans pending "admission of criminal wrongdoing," due to be finalized in J...

Tuesday, March 16, 2021 For many years there has been concern that when pension plans collapse, it may in part be attributable to the failure of employer plan sponsors to conduct the selection and monitoring of actuarial assumptions in a prudent, objective manner. This is because the Employee Retirement Income Security Act of 1974 (ERISA) only requires the use of “reasonable” assumptions and “actuarial equivalents”; and because these terms are not defined in the statute, they ...