FAQs
about the UnumProvident Settlement
"What is the UnumProvident Settlement about?
The insurance regulators of all fifty states, the District of
Columbia, and American Samoa participated in an examination of the
claims handling practices of Unum Life Insurance Company of America,
The Paul Revere Life Insurance Company, and Provident Life and
Accident Insurance Company, the three disability insurers owned by
UnumProvident Corp. The U.S. Department of Labor conducted a related
investigation of UnumProvident’s practices involving employee benefit
plans covered by the Employee Retirement Income Security Act. As a
result of the examination and the DOL investigation, the three
UnumProvident companies mentioned above plus First Unum Life Insurance
Company, their New York affiliate, entered into a Settlement Agreement
requiring the companies to change their claims practices and to
reassess certain long term disability claims going back as far as
1997."
Advisory Opinions:
2005-02A,
ERISA Sec. 103, 02/24/2005
"Regarding the Schedule
A (Form 5500) requirements for reporting fees and commissions
paid to brokers, agents and other persons directly or
indirectly attributable to policies or contracts placed or
retained with or by an ERISA-covered employee benefit plan."
Final Regulations for HIPAA Health Coverage Portability
•
Model
Certificate •
Press Release
Health Care Continuation Coverage; Final Rule [Rules and Regulations]
[05/26/2004] |
[PDF Version]| [Notices]
| [Press
Release]
Release Date: 10/21/2004
"EBSA closed 4,399 civil
investigations in FY 2004. Nearly 70% of those investigations
resulted in correction of violations under the Employee
Retirement Income Security Act (ERISA).
Criminal investigations led to the indictment of 121
individuals. In addition, EBSA received a record 474
applications to participate in its compliance assistance program
to help employers and plan officials to voluntarily correct
specific violations of the law."
"This legislation is especially necessary for
the nation's millions of small businesses, creating a level
playing field and giving them the same benefits of administrative
savings, negotiating clout, and uniform regulation enjoyed by
large businesses and labor unions."
EBSA Achieves Record $3.1 Billion in Fiscal Year
2004 Results
•
Press Release
"Atlanta, Georgia - The U.S. Department
of Labor has obtained a preliminary injunction removing the
trustees of the Paramount, California-based International Union of
Industrial and Independent Workers Benefit Fund (IUIIW) and
permanently barring them from service to the fund."
DOL Health Benefits Education Campaign
[New
Seminars:
IL,
NY,
KY]
DOL
Launches National Education Campaign "Getting It Right-Know Your
Fiduciary Responsibilities" •
Labor Department
Releases Form 5500 Annual Report and Filing Requirements for
2004
Press Release EBSA News Release: [05/18/2004]
DOL
Advisory Opinion on Certain Contributions to Health Savings
Accounts (HSAs) (U.S. Employee Benefits Security
Administration)
Employee Benefits Security Administration Issues Field
Assistance Bulletin on Health Savings
Field
Assistance Bulletin 2004-1 "Whether
Health Savings Accounts established in connection with
employment-based group health plans constitute "employee
welfare benefit plans" for purposes of Title I of ERISA?"
Text of Final
HIPAA Portability Regulations (PDF) (Internal
Revenue Service, Employee Benefits Security Administration,
Centers for Medicare & Medicaid Services)
Final Regulations for HIPAA Health Coverage
Portability •
Model
Certificate •
Press
Release
