POP/ERISA Document Generators

SECTION 125 PREMIUM ONLY PLAN (POP)

IRS Required Section 125 Premium Only Plan (POP)  $119 per year.
^{Use Partner Key 1816 to receive a 5% discount}

Do you deduct pre-tax premiums from employee wages?  Do you have a written plan that meets IRS requirements?

A Premium Only Plan (POP), also known as a Section 125 plan or Cafeteria Plan, allows employees to pay for out-of-pocket medical, dental or vision insurance premiums with pre-tax dollars through payroll deduction. 

For organizations to allow employees to pay for medical, dental and vision insurance premiums on a pre-tax basis, the IRS requires a Section 125 Plan document that specifies details about the coverage, eligibility under the plan, election procedures and rules of participation. Other benefits including: Group term life insurance up to $50k, cancer, accident and hospital indemnity, and disability income insurance may qualify for pre-tax payments using this document. The IRS also requires a Summary Plan Description (SPD) which must be furnished to all plan participants.

Failure to have a written Section 125 Plan document at the time of an IRS audit could cause this domino effect:

• Amended corporate tax returns
• Amended W-2s for all employees who had deductions
• Amended tax returns for those affected employees
• Interest and penalties owed on the unpaid taxes

This service allows you to create, store and keep up-to-date your 125 Plan documents including your SPD and Board Resolution for $119 per year. 

SPD WRAP DOCUMENT

ERISA Required SPD Wrap  $175 per year.
^{Use Partner Key 1816 to receive a 5% discount}

Are your benefit plans ERISA Compliant?  Would you pass a Department of Labor ERISA audit?

Generally, all employers offering a group health plan or other ERISA-qualified benefit are subject to ERISA, except for government entities and churches.

ERISA’s disclosure requirement mandates that employers maintain a written Plan Document and distribute Summary Plan Descriptions (SPD) for EACH benefit to participants. This requirement is made easier by incorporating all benefits into a “wrap” plan document.  A certificate of insurance or benefit plan summary are not ERISA compliance documents, nor is a Section 125 cafeteria plan document.

With this service you create ONE SPD with required ERISA language that includes ALL health and welfare benefits wrapped in a single document for $175 per year.

• Create, store and edit SPD Wraps in a web-based document center
• Documents are updated automatically with required ERISA changes
• 24/7 access to your documents
• Documents are reviewed and maintained by an ERISA Specialist
• Summary of Material Modification (SMM) to communicate benefit changes

ERISA SOLUTIONS

ERISA Compliance Bundle  $475 per year.
^{Use Partner Key 1816 to receive a 5% discount}

• Section 125 Premium Only Plan (POP)
• ERISA Required SPD Wrap

PLUS:

• Generate Customized All-in-One Annual Employee Notices
• Employment Law Updates & Reminders
• HIPAA Compliance Training, Forms and Documents