The DOL’s decision to focus solely on retirement plans was criticized by many stakeholders, including the National Association of Insurance Commissioners (NAIC), the American Society of Pension Professionals & Actuaries (ASPPA), and the Employee Benefit Research Institute (EBRI). The DOL’s decision was seen as a missed opportunity to proactively address cybersecurity risks in all employee benefit plans, potentially leaving these plans vulnerable to data breaches and other cyberattacks. This lack of guidance for health and welfare plans has created a significant gap in the regulatory landscape, leaving employers and plan sponsors with limited resources and guidance to effectively manage cybersecurity risks.
Implement a comprehensive incident response plan. This post will delve deeper into each of these best practices, providing a detailed explanation of their importance and how they contribute to a robust cybersecurity posture. **Maintain a formal, well-documented cybersecurity program.**
A formal cybersecurity program is the cornerstone of any effective cybersecurity strategy. It provides a structured framework for managing cybersecurity risks and ensuring the organization’s overall security posture.
These plans are often referred to as “employee benefits” or “welfare plans.”
The DOL’s cybersecurity guidance is designed to help employers understand and implement best practices for protecting their employee benefits plans from cyberattacks. The guidance provides specific recommendations for securing sensitive data, such as employee health information, and for mitigating the risks associated with cyberattacks. The DOL’s cybersecurity guidance is not just about protecting data; it’s also about protecting the integrity and availability of employee benefits plans. This means ensuring that employees can access their benefits information and services when they need them.
– but a thorough review of all service providers is essential. This is particularly true for ERISA fiduciaries who are responsible for overseeing the plan’s operations and ensuring its security. The summary points out that ERISA fiduciaries have a responsibility to ensure the plan’s security and that they must identify the plans in scope. Further, it highlights the importance of considering cybersecurity across all service providers, not just the most prominent ones.
The DOL’s cybersecurity guidance, which focuses on the security of employee data, is not directly aligned with HIPAA’s focus on the privacy and security of protected health information (PHI). This difference in focus creates a potential conflict. The DOL’s cybersecurity guidance also emphasizes the importance of employee training and awareness programs. While HIPAA requires employers to implement these programs, the DOL’s guidance goes beyond HIPAA’s requirements, recommending specific types of training and emphasizing the need for ongoing training. This difference in scope and depth of requirements creates a potential conflict.
