Core Documents

  For employers offering group health insurance, meeting   employee notification requirements   is more than just a legal obligation — it’s a critical compliance step to avoid costly penalties. Under the   Affordable Care Act (ACA)   and   ERISA (Employee Retirement Income Security Act) , employers are required to provide clear, comprehensive documentation that explains health benefits to employees. This includes a vital document known as the   Wrap SPD (Summary Plan Description) . What Are Employee Notification Requirements? Employee notification requirements refer to the set of legal obligations employers must fulfill to ensure employees are properly informed about their benefits, rights, and responsibilities. These notifications are crucial for transparency and compliance. For group health plans, one of the most important notifications is the  Wrap SPD , which summarizes all the essential details about the plan. According to the Department of L...

  Navigating employee benefits in today’s regulatory landscape can be complex, and one of the most critical aspects for U.S. employers is ERISA compliance. The Employee Retirement Income Security Act (ERISA) sets the federal standards for employer-sponsored health and retirement plans. Failing to comply with ERISA regulations can result in significant fines, lawsuits, and reputational damage. Fortunately, tools like the   Wrap SPD plan document   can help ensure compliance. What Is ERISA? Enacted in 1974, ERISA is designed to protect employees’ rights to employer-sponsored benefits, including health insurance, life insurance, disability insurance, and retirement plans. It requires employers to provide detailed disclosures to plan participants, manage plans prudently, and adhere to specific fiduciary standards. Key ERISA Requirements for Health Plans: Summary Plan Description (SPD)  must be provided to all participants Timely disclosure  of plan changes and benef...

  When it comes to maximizing employee benefits while reducing taxable income, a   POP plan document —short for Premium Only Plan—offers one of the simplest and most cost-effective solutions. Authorized under Section 125 of the IRS tax code, a POP plan allows employees to pay their portion of insurance premiums using pre-tax dollars. But to comply with IRS regulations, employers must have a valid and up-to-date POP plan document in place. What Is a POP Plan Document? A  POP plan document  is a written plan that outlines how a company will administer its Section 125 Premium Only Plan. This document is required by the IRS and details the rules, eligibility requirements, and benefits of the plan. By implementing a compliant POP plan document, employers can allow employees to deduct their share of health, dental, vision, and other insurance premiums directly from their paychecks before taxes are calculated. This reduces taxable income for employees and lowers payroll tax...

  A Health Reimbursement Arrangement (HRA) is a powerful tool that allows employers to offer tax-advantaged benefits to employees by reimbursing qualified medical expenses. One of the most critical components of establishing an HRA is creating a compliant   HRA plan document . This document serves as the foundation of the plan, ensuring legal compliance and clear communication between the employer and employees. For those exploring HRA options, understanding the role of the plan document is key—and resources like   this   Core Documents offer valuable insight. What Is an HRA Plan Document? An  HRA plan document  is a formal, written description of the Health Reimbursement Arrangement that an employer sets up for employees. It outlines all the rules of the plan, including: Eligibility requirements Contribution limits Reimbursement procedures Covered expenses Claims process Tax treatment of benefits The plan document ensures that the HRA complies with IR...