DOL audits: More health plans getting hit with $10K-plus fines

By Jared Bilski

When the feds start looking into employers’ benefit plans, most HR pros think they’re generally targeting retirement plan issues. But new research shows that’s not necessarily the case.
Not only is the Department of Labor (DOL) investigating health and welfare plans, the agency is also handing down some steep fines based on what it finds.

In fact, more than a quarter (32%) of the health and welfare plans audited by the DOL were hit with fines higher than $10,000 for Employee Retirement Income Security Act (ERISA) and Form 5500 errors. And 5% of the plans the feds looked at were hit with fines of more than $50,000.

Click here to continue reading.