Compliance
Services

WE HELP SIMPLIFY COMPLIANCE SO YOU CAN FOCUS ON YOUR BUSINESS

compliance_pic

Benefit Consulting Services is here to assist you in determining if your business meets compliance regulations. We are consistently reviewing compliance standards and regulations to ensure your business is up-to-date, while providing the newest and most recent information to you.

What Do Compliance Services Encompass?

The Affordable Care act has brought new compliance regulations pertaining to your employee insurance benefits. Businesses must follow laws and regulations in accordance with the reform and Benefit Consulting Services will help your business to ensure your company is in compliance with regulations brought on by the Affordable Care Act.

compliance_pic

What Compliance Services is your Business Responsible for?

If your business has more than 100 employees enrolled in healthcare, this form must be filled out and sent to the federal government with EFAST2. The form covers information about the healthcare plan offered, the financial responsibilities of the plan and how the plan is implemented.

Businesses have to provide their employees the specific benefits included in the health plans. The disclosures of the information should include contract information, sponsor information and the various benefits. There is a timeline that this disclosure should be submitted to new employees within the initial start date of employment.

Any business with more than 50 employees must provide extended leave benefits. All information including the tracking of time off, the medical reason for a leave, when the leave begins and any other notifications must be made available to the employee.

Section 125 is for benefits that are provided on a pre-tax basis and it requires that employees are provided written policy documentation.

Annual non discriminatory testing must be done for self funded, HRA and FSA plans so as to not favor owners, key employees or highly compensated individuals.

This survey is required by the federal government under Title VII of the Civil Rights Act, helping to ensure that there is no discrimination based on employment or compensation. This regulation is only applicable to private businesses with over 100 employees or federal contractors with more than 50 employees.

This trust collects a fee from issuers for self-paid benefits or HRA's. These fees apply to plans that ended after September 2012 and before October 2019. The fees can be reported on tax form 720.

Businesses who offer self-paid plans have to follow this standard and the plan details must be provided to the federal government. The funds can be reported through form 1094B if you are the business and form 1095B if you are the employee.

This mandate is only required for businesses that have 50 or more employees. The business must report to the federal government the benefits and the costs offered. This will be done through forms 1094C and 1095C.

HIPPA - An employer providing a self funded HRA or FSA plan through a third party administrator must have documents satisfying all HIPPA requirements.

Disclosures must be provided to all Medicare Part D eligible employees. Plan sponsors are required to provide the credible coverage disclosure to the CMS upon any changes in credible coverage and at least annually.

Whenever there are changes to the summary of plan benefits, information must be provided to all employees, including if the changes were made mid-year. Examples of changes include addition of a new plan, changing plan details or a change in the employer's contribution to the plans.

Each state has their own specific laws pertaining to insurance benefits and any state required disclosures should be provided to employees as well. Ensure that you speak with Benefit Consulting Services to be certain you are following state regulations.

Companies with 15 or more employees must make reasonable steps to accommodate employees with disabilities. Benefit Consulting Services can assist you to help determine that your company is following the proper ADA guidelines.

Our commitment to our clients

handshake

We focus on the benefits that your company needs so you can address other aspects of your business. As a team of experienced benefit consultants, we have knowledge of best practices that are used in our industry to assist our clients. We have a commitment to continually develop our roles which helps us to pass our expertise on to our clients.

Benefit Consulting Services is a firm that works with organizations of all types, providing consulting services and acting as an intermediary on behalf of our clients. In addition to striving to provide our clients with the best benefit services, we are responsible for the oversight of every area of interaction our clients have with their providers. We will give our clients the personalized attention needed to address all their benefit concerns.

handshake
LET OUR EXPERIENCED CONSULTANTS HELP GUIDE YOUR BUSINESS 

LET OUR EXPERIENCED
CONSULTANTS HELP
GUIDE YOUR BUSINESS 

LET OUR EXPERIENCED
CONSULTANTS HELP
GUIDE YOUR BUSINESS