For Immediate Release
Washington, DC – The following statement should be attributed to James Gelfand, Senior Vice President for Health Policy, The ERISA Industry Committee (ERIC), the only national association that advocates exclusively for large employers on health, retirement, and compensation public policies at the federal, state, and local levels:
“The ERISA Industry Committee (ERIC) is pleased the Department of Labor (DOL) is proposing a 90-day delay of the costly and burdensome midnight regulation on disability benefit claims review.
Modeled on an onerous Affordable Care Act regulation governing health insurance claims, this regulation is unnecessary and will increase costs for workers, employers, and taxpayers. The delay will allow plan sponsors and benefit providers to gather the data necessary to help inform DOL so the agency can formulate a more reasonable and affordable approach to disability claims reviews.
Excessive and burdensome regulations force plan sponsors to refocus valuable time, money, and resources that would be better spent on plan beneficiaries. When government regulation increases the cost of benefits, workers are inevitably the hardest hit.”