In this Talking Benefits podcast episode, the pod squad wanted to highlight a topic that is timely for several reasons and might be a little confusing—mental health and substance use disorder parity in benefits.
Podcast host Julie Stich welcomed Stephanie Patrick, senior consulting actuary for Horizon Actuarial Services, LLC, for this episode. Stephanie answered a few questions that are sure to provide listeners with a better understanding of this topic, as well as of Department of Labor (DOL) enforcement in this area.
The episode covers:
- The overall goal of mental health parity and why the legislation was first enacted 25 years ago
- How the legislation has morphed since 1996 and where it is today
- What the actual rules are and the three main requirements and areas for parity
- What’s new as of November 2021 that employers and plan sponsors should know about
- How the Department of Labor is enforcing the parity law and rules
- What happens if the DOL finds parity violations
I hope you are able to give this episode a listen. It provided a lot of needed clarity on this important and ever-changing topic.
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