ERISA

Posted November 27th, 2019 in Employers, Producers
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers who offer health and welfare benefits to maintain and distribute Summary Plan Descriptions (SPDs) to all plan participants. This SPD must include certain disclosures and information, such as when the employer may amend or terminate the plan(s).
 
Posted January 22nd, 2019 in Employers, Producers

The Employee Retirement Income Security Act of 1974 (ERISA) requires employers to provide a Summary Plan Description (SPD) to employees if they offer health, dental, vision, life, disability or other benefits.

Posted September 27th, 2018 in Employers, Producers

ERISA Section 607 defines the term group health plan as an employee welfare benefit plan providing “medical care” to participants or beneficiaries:

Posted April 26th, 2018 in Producers, Employers
This blog was originally posted on July 13, 2017.
 
Group health plans are almost always subject to the Employee Retirement Income Security Act of 1974, also known as ERISA.
 
This means employers must follow certain rules, such as:
 
  • Providing participants with important information in writing about plan features and funding.
  • Establishing an appeal and grievance process for participants to receive benefits from the plan.
Posted March 8th, 2018 in Producers, Employers
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers who offer health and welfare benefits to maintain and distribute Summary Plan Descriptions (SPDs) to all plan participants. This SPD must include certain disclosures and information, such as when the employer may amend or terminate the plan(s).
 
Posted July 13th, 2017 in Producers, Employers
Group health plans are almost always subject to the Employee Retirement Income Security Act of 1974, also known as ERISA.
 
This means employers must follow certain rules, such as:
 
  • Providing participants with important information in writing about plan features and funding.
  • Establishing an appeals and grievance process for participants to receive benefits from the plan.
  • Providing fiduciary responsibilities for those who manage and control plan assets.
Posted October 28th, 2016 in Producers, Employers

New service keeps you on track!

The world of ERISA, HIPAA, COBRA and general health care compliance is increasingly complex for businesses. Flexible Benefit Service Corporation (Flex) wants to make sure nothing falls through the cracks.

Flex now offers Compliancedashboard® - a turnkey solution to help you make sense of your compliance obligations and minimize your risk. This simple, web-based compliance system gives your organization the information you need, when you need it.

Posted August 3rd, 2016 in Producers, Employers
According to a DOL website, “The Form 5500 Series is an important compliance, research, and disclosure tool for the Department of Labor, a disclosure document for plan participants and beneficiaries, and a source of information and data for use by other Federal agencies, Congress, and the private sector in assessing employee benefit, tax, and economic trends and policies.
Posted January 22nd, 2016 in Producers, Employers
The Employee Retirement Income Security Act of 1974 (ERISA) requires most employers, who offer health and welfare benefits, to provide a written plan document to participants. The plan documents that are issued by insurance companies and other benefits providers are typically standardized and don’t include all of the customized, employer-specific language that the ERISA law requires.
 
Posted July 18th, 2014 in Producers, Employers
The IRS and other agencies have issued three different sets of guidance making it clear that employers cannot give actively employed workers pre-tax dollars through a Health Reimbursement Arrangement (HRA) ,or any other type of arrangement, to purchase individual coverage on their own.

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