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Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through GFS Wealth Management Advisors, Inc. (GFS). Insurance products and services are offered and sold through individually licensed and appointed agents in all appropriate jurisdictions. Agents are associated with Ganim Insurance Consultants, Inc. (GIC). Kestra IS is not affiliated with Ganim Financial, GFS or GIC. Ganim Financial, GFS, GIC, and Kestra IS do not offer tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax and legal counsel.
This site is published for residents of the United States only. Registered Representatives of Kestra Investment Services, LLC may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for information may be delayed. Not all of the products and services referenced on this site are available in every state and through every representative listed. For additional information, please contact our Compliance department at 737-443-2582.
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EBSA Releases Annual Enforcement Report on MHPAEA
The DOL’s Employee Benefits Security Administration (EBSA) released its annual enforcement report on the Mental Health Parity and Addiction Equity Act (MHPAEA) for 2019. According to EBSA, vigorous enforcement of MHPAEA is one of its top enforcement priorities.
MHPAEA is a federal law that prevents group health plans and health insurance issuers that provide mental health or substance use disorder benefits from imposing less favorable benefit limitations on those benefits than medical and surgical benefits.
In fiscal year 2019, EBSA closed 186 health plan investigations, 183 of which included reviews of MHPAEA compliance. These investigations resulted in 12 citations for MHPAEA violations. As an example of the size and scope of these investigations, in the course of one investigation involving a service provider, the service provider reported providing services to 99 self-insured and 210 fully insured plans, covering 67,724 participants.
When EBSA identifies MHPAEA violations, it asks the plan to make necessary changes to any noncompliant plan provision and to pay any improperly denied benefit claims. EBSA may also require the plan or service provider to provide notice to potentially affected participants and beneficiaries.
Click here for more information on MHPAEA.