The Employee Benefits Security Administration is getting ready to release a draft regulation that could help employers team up when buying health coverage.
EBSA, an arm of the U.S. Department of Labor, began putting the draft regulations through a review process at the federal Office of Management and Budget on Tuesday.
The only information about the draft right now comes from a catalog entry in the OMB regulation tracking system. The catalog entry does not include a link to the text of the draft, or even a general summary of the draft.
The title of the draft regulation in the catalog entry is “Definition of an ‘Employer’ Under Section 3(5) of ERISA — Association Health Plans.”
ERISA, or the Employee Retirement Income Security Act of 1974, is the federal law that creates the framework for most U.S. employee benefits plans.
Section 3(5) deals with how regulators define “an employer” for ERISA purposes.
President Donald Trump and his administration say they want to help small employers hold down benefits costs by joining together more easily to bargain for better and cheaper coverage, or to participate in self-insured plans.