New law imposes ERISA disclosure rules for brokers
Posted On: Jan. 13, 2021 9:43 AM CSTThe Consolidated Appropriations Act of 2021 imposes new disclosure requirements for brokers and consultants providing services to Employee Retirement Income Security Act health plans, Mondaq reports. The service providers are required to disclose to a plan's fiduciary the direct and indirect compensation, including commissions and other incentive compensation they, or their affiliates and subcontractors, receive from insurance and other service providers.