Core Documents

  In today’s ever-evolving regulatory landscape, compliance with ERISA and the Affordable Care Act (ACA) is more crucial than ever. A key requirement under these laws—the Wrap Summary Plan Description (SPD)   plan document—has become a vital piece of employee benefit plan management. Understanding this, many employers are turning to   Wrap SPD design consulting   to navigate the complexities and safeguard against expensive non-compliance penalties. What Is a Wrap SPD? A Wrap SPD is a comprehensive document that consolidates all necessary health plan information mandated by ERISA and ACA. This includes coverage details, eligibility rules, cost structures, and employee rights. Importantly, while insurance carriers provide standard plan documents, they do  not  offer the SPD—that responsibility lies squarely on employers. Why Employers Need Wrap SPD Design Consulting High Stakes for Non‑Compliance Starting January 1, 2014, ACA introduced stiff penalties most n...

Employers offering group health insurance must comply with federal ERISA and Affordable Care Act (ACA) requirements—or face steep fines. A critical component of compliance is the  Wrap SPD plan document , which ensures plan participants receive clear, legally complete disclosures. This article explains what a Wrap SPD is, why it matters, and how it protects employers and employees alike. What Is a Wrap SPD Plan Document? A  Wrap SPD  (Summary Plan Description) is a supplemental document created by an employer to meet ERISA’s disclosure requirements. Because insurance carriers’ benefit booklets or Certificates of Coverage often omit core ERISA provisions, the employer drafts a wrap document that “wraps around” those materials, combining them into a legally compliant SPD and plan document . In legal terms, the Wrap SPD and the carrier’s certificate together constitute the official plan document and SPD that employers are required to deliver to participants . Why Employers N...