The Hartford Agrees to Purchase Aetna’s Group Disability Insurance and Group Life Insurance Business

In a deal between two of the country’s largest disability insurers, The Hartford agreed to purchase Aetna Life Insurance Company’s group life insurance and disability insurance business for $1.45 billion. After the purchase, which is expected to close before the end of 2017, The Hartford will be the second largest group life and disability insurer, …

Read moreThe Hartford Agrees to Purchase Aetna’s Group Disability Insurance and Group Life Insurance Business

Plan Administrators Cannot Violate their Fiduciary Duties by Failing to Provide Proper Notice of Policy Amendments; ERISA Plan Exclusions/Limits May Not be Enforceable

Summary Plan Descriptions (“SPD”) under ERISA are required to be given to plan participants, and they provide plan participants with the most important summary of plan terms they need to know regarding their ERISA governed plans.  ERISA requires SPDs to “be written in a manner calculated to be understood by the average plan participant.”  However, …

Read morePlan Administrators Cannot Violate their Fiduciary Duties by Failing to Provide Proper Notice of Policy Amendments; ERISA Plan Exclusions/Limits May Not be Enforceable

Summary Plan Descriptions Under ERISA May Do More Than Summarize Your Benefit Plan

When individuals are enrolled in a group benefit plans, they are typically provided with a “Summary Plan Description” (“SPD”) which is a document that communicates plan rights and obligations to participants and beneficiaries under their ERISA plan. While the actual Benefit Plan Trust Agreement, which contains the formal provisions that make up a benefit plan, …

Read moreSummary Plan Descriptions Under ERISA May Do More Than Summarize Your Benefit Plan

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