POP/ERISA Document Generators

SECTION 125 PREMIUM ONLY PLAN (POP)

IRS Required Section 125 Premium Only Plan (POP)  $99 per year.
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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 $99 per year. 

SPD WRAP DOCUMENT

ERISA Required SPD Wrap  $149 per year.
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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 $149 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.

COMPLIANCE NOTIFICATIONS:

ERISA Required Compliance Notifications
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Generate customized all-in-one annual employee notices including:

     »  Medicare Part D
     »  CHIP
     »  WHCRA
     »  HIPAA
     »  Initial COBRA
     »  Health Exchange

Access triggering event notice templates for: 

     »  FMLA
     »  COBRA
     »  HIPAA Breach
     »  Medical Child Support Order Notice

And More!