Businesses today are dealing with an overwhelming number of Federal and State legal requirements. Exacerbating the situation, government entities such as the DOL, IRS, HHS and EBSA (just to name a few), are aggressively targeting, auditing, and penalizing companies who fail to comply with long-standing, as well as recently enacted legislation.
The administrative burden to remain compliant is growing more burdensome every day, especially for small to mid-sized business. And the fines for compliance lapses are so financially punishing that businesses today simply can’t afford to be anything less that flawlessly diligent in this area.
We provide a first place to turn for guidance and support on many of these compliance issues. A small sampling of our compliance services includes:
- Evaluation of plan design to ensure compliance with state and federal regulations
- Establishment of annual compliance calendar which provides timeline of milestones for key deliverables such as 5550 filings, 1095 filings, PCORI filing fees and ACA reinsurance fees
- Preparation of signature-ready section 125 plan documents and amendments, 5500 filing documents for ACA compliance, SPD/wrap documents for ERISA compliance
- Assistance with evaluation of COBRA, HIPAA, FMLA, ADA, ERISA and DOL compliance procedures
- Guidance to assist with compliance with ERISA, FMLA, USERRA, Medicare Part D and other federal legislation that directly affects the administration of plan benefits
- Creation of templates and sample compliance notices, certificates of creditable coverage and enrollment forms
- Audit of wellness initiatives for ACA compliance relative to premium credits and surcharges
- Review of employee handbook to address any compliance issues
- Hosting of periodic seminars on regulatory issues
- Compliance training via webinars, conference calls, onsite presentations
- Legislative updates and technical bulletins on legislative actions and other breaking news
- Extend compliance consulting access to five retained "best in class" employee benefit law firms