As a parent, I encourage my kids to resist the melodic siren call of procrastination. I share historical examples of how procrastination led to undesirable and often catastrophic events. It’s an easy argument to make. It’s especially easy because my kids haven’t been exposed to the shifting sands of employee benefit regulations.
Given the growing complexity of our benefits landscape, it’s no wonder the regulators often extend various deadlines or reverse course, leaving the procrastinator appearing prophetic. For example, back in July we discussed the Department of Health and Human Services final regulations surrounding prescription drug coupons and employee cost-sharing in health plans (prescription drug cost accumulator programs).
