A variety of federal laws govern health and welfare plans, and employers are often required to file forms and distribute information to their employees to comply.
Keeping track of these requirements can be overwhelming and time consuming. And with the ever-changing healthcare legislation, it is more complex than ever. But as a client of The Wladis Companies, Inc., we will make sure you are aware and up-to-date regarding all federal requirements and deadlines.
Through our free, web-based program, Compliancedashboard®, you’ll be notified any time something needs to be filed with the government or distributed to employees.
You can also log in and review current information that will help you:
- Stay on top of national health care reform
- Simplify compliance obligations
- Decrease administrative costs
- Reduce your liability from noncompliance
Summary Plan Description (SPD) Preparation Services
The Employee Retirement Income Security Act (ERISA) requires all employers who sponsor a health and welfare plan to provide participants with a Summary Plan Description (SPD) describing their rights, benefits and responsibilities under the plan in understandable language.
The SPD is an important document because it tells participants what the plan provides and how it operates. It also provides information on when an employee can begin to participate in the plan, how service and benefits are calculated, when and in what form benefits are paid and how to file a claim for benefits.
It is now more important than ever for employers to have their written plan documentation in place. Not having the required ERISA documents can leave a plan sponsor vulnerable to possible penalties and fines, Department of Labor (DOL) audits and participant lawsuits. To protect our clients, The Wladis Companies, Inc. uses Plan Doc Builder software to create easy-to-read, ERISA compliant plan documents and SPDs.
Contact our office to learn more about our SPD preparation services.