The New Broker and Consultant Disclosure Requirements

The Consolidated Appropriations Act, 2021 enacted new health plan transparency standards that include rules requiring the disclosure of direct and indirect compensation paid to brokers and consultants who advise group health plans. The disclosure rules generally apply to contracts or arrangements executed or entered into on or after December 27, 2021.

While these new rules are modeled on and closely resemble similar disclosure requirements that have applied to pension plan service providers since 2012, there are important differences. In a recently issued Field Assistance Bulletin, the Department provided some important clarifications and otherwise requires brokers and consultants to act reasonably and in good faith as the endeavor to comply.

During this program hosted by the New England Employee Benefits Council (NEEBC), Mintz Member and Chair of the firm's Employee Benefits & Executive Compensation Practice, Alden Bianchi, will explain the Act's new broker and consultant compensation rules, offer compliance tips and insights and provide an opportunity to get your questions answered.

Intended Audience: Brokers, Advisors and Consultants only

Included with Registration: Companion documents written on this topic by Alden Bianchi will be made available to registrants.

New England Employee Benefits Council | [email protected]