A variety of federal laws require employers and plan sponsors of health and welfare benefit plans to provide periodic notice to individuals and reports to various federal agencies. The ACA added several new requirements.
Our employee notice and reporting solution provides a basic administrative guide to help make satisfying these obligations easier for you and, if you would like, enhanced notice fulfillment services where we draft certain documents and/or mail notices on your behalf.
Basic Notice and Reporting Support
- Our basic service includes the following:
- An administration guide that includes a summary of each of the federal health and welfare plan notice and reporting requirements and copies of the model notices;
- Instructions for completing the forms and reports;
- Electronic versions of all model documents;
- A compliance calendar to remind you of all due dates;
- Training with a Consultant to help you understand your obligations; and
- Annual updates to incorporate changes in the law.
Enhanced Notice Service Options
Our enhanced services provide your benefits team relief from the administrative burdens created by the growing number of notice compliance requirements.
Certain notices must be provided at certain times to employees, participants, and/or beneficiaries. We will send the specified notices via First Class mail on your behalf. We will also check the National Change Of Address (NCOA) database to ensure all addresses are valid before mailing and provide you with a copy and list of recipients for your records.
Summary Plan Description (SPD)
Some notices are required to be included in the SPD for plans subject to ERISA. We can provide a standard SPD that “wraps around” your existing benefit summaries. The purpose of this type of document is to provide general information about the health and welfare benefit plans that you offer and a summary of participant rights. The document then incorporates specific benefit plan summaries and certificates of insurance by reference.
The ACA requires plan sponsors to provide a government-developed document to plan participants in connection with enrollment materials, the Summary of Benefits and Coverage (SBC). The SBC is intended to provide a high-level description of group health plan coverage. Plan sponsors of self-funded plans must fill in the government-provided template with the required information for their plan(s). We can complete the SBC template on your behalf and assist you with annual updates.