ERISA Preemption of State Insurance Mandates

Question:  Are ERISA self-insured health plans required to provide coverage for state insurance mandates? Compliance Team Response: State insurance mandates do not apply to self-insured health plans subject to ERISA. For these purposes, “self-insured” refers to any plan option that is not fully insured.  For example, a level-funded plan is treated as a self-insured plan […]

ABD Accelerate: Certified Marine Insurance Professional Program

Since the beginning of my career in marine insurance, I’ve learned that staying on top of changing regulations, insurance jargon, and underwriting considerations is absolutely necessary for providing high-quality service in a field as specialized as the maritime industry. Fortunately, ABD recognizes the value in investing in the education and careers of their employees, so […]

Introducing ABD Accelerate

At ABD, we’re  passionate about the growth of each person here. We are a learning organization and proudly invest in our team members through training and development.  We develop our expertise as part of our culture, to better service our clients and to help us reach our company objectives. We do this in a number […]

Employers Should Not Reimburse Medical Expenses Outside of the Plan

Question: What are the issues preventing an employer from reimbursing an employee’s out-of-pocket medical expenses? Compliance Team Response: Overview The main concern is that an employer’s reimbursement of a medical expense creates a group health plan that has to comply with the full array of laws governing employer-sponsored group health plans. Medical expenses are defined […]

Portfolio Insurance Programs

This is the fifth installment in the ABD M&A Advisory series titled “Finding the Upside in the Downturn” Private equity firms have always looked for ways to take advantage of cost sharing among their portfolio companies. As a result, a role was created at many private equity firms in which individuals became solely responsible for spearheading […]

ACA Status for New Full-Time Hires in the Gap Period

Question:  How does an ALE determine the ACA status of a new full-time hire who experiences a reduction in hours prior to reaching a stability period under the look-back measurement method? Compliance Team Response: Reminder: Very Different Approach Depending on Measurement Method There are two different approaches for an applicable large employer (ALE) subject to […]

New Jersey Adopts Individual Health Insurance Mandate

New Jersey Adopts Individual Health Insurance Mandate New Jersey is following in the footsteps of Massachusetts and is requiring all residents to maintain minimal essential health insurance beginning January 1, 2019, unless the individual qualifies for an exemption.  Failure to have health coverage or qualify for an exemption may result in the assessment of a […]

It’s Time for REITs to Consider Reps & Warranties Insurance

Representation and Warranties Insurance (R&W) is a type of insurance policy purchased in connection with corporate transactions. It covers the indemnification for certain breaches of the representations and warranties in the transaction agreements. R&W policies are designed to provide additional flexibility in addressing these obligations, for example, by reducing or eliminating the need for an […]