What is the Consolidated Appropriations Act (CAA)?
CAA legislation impacts all employers offering group health benefits. Passed in December 2021, it outlines employers’ responsibilities in overseeing employee benefit contributions and expands on ERISA fiduciary duties already in place.
The Consolidated Appropriations Act is here to stay. It’s not a continuation of COVID or emergency legislation.
How will it affect employers?
Employers have a list of legal requirements, including pre-existing ERISA requirements and new CAA-outlined responsibilities, to fulfill and need to have processes in place to protect and oversee plan assets and employee contributions.
The video includes expert perspectives, non-compliance penalties, and possible solutions for employers. Read more about CAA.