VT Regulation Adopting TPA Licensing and Regulatory Requirements
Monday, March 8, 2021 In the fall of 2019, we reported that Vermont enacted Senate Bill 41, which granted the Commissioner of the Vermont Department of Financial Regulation (the “Department”) jurisdiction over entities that administer one or more health reimbursement arrangements (“HRAs”), health savings accounts (“HSAs”), and flexible spending accounts (“FSAs”). Senate Bill 41 directed the Department to adopt rules regulating entities that administer HRAs, HSAs, and FSAs. In response to Senate Bill 41, the Department recently issued proposed Regulation 1-2021-01 (th...
Source: natlawreview.com