Increase in Rules Could Mean Increase in Potential Audits

There is an increase in the number of Department of Labor (DOL) rules regulating health and welfare plans, which is putting employers at an increased risk of significant penalties with DOL audits said to be on the rise. The ERISA Wrap protects you from potential fines you may receive from the DOL concerning SPD and Plan Documents in the event of an audit. Without the ERISA Wrap your company is vulnerable to a $110 per employee per day fine. BASE® makes sure you fulfill the requirements for an SPD and Plan Document, while also adding an extra compliance service package. Plus, this plan documentation includes all salary reduction information when applicable in the form of a Premium Only Plan.  

Many employers believe that certificates of insurance, insurance contracts and benefit summaries are enough to fulfill the requirement for SPDs and Plan Documents. However, they do not contain all of the required information. In order to stay clear of compliance issues, employers must have an ERISA Wrap in place. An ERISA Wrap is designed to wrap around insurance certificates and benefit plan booklets, along with other required documents, to meet the provisions that protect the plan and employer. 

BASE® provides customized Wrap SPD and Wrap Plan Documents that provide the required ERISA provisions and information that will assist in achieving compliance. BASE® also offers a valuable compliance package, including: 

STANDARD WRAP COMPLIANCE SERVICES 
Disclosure of Grandfathered Health Plan Status
Dependent Coverage to Age 26
Pay or Play
Medical Loss Ratio
Women’s Health & Cancer Rights Act
Newborns’ & Mothers’ Health Protection Act
•     Summary of Material Modifications (SMM)
PREMIUM ONLY PLAN ADMINISTRATION 
Includes all required salary reduction information, when applicable 
Outlines benefits offered on a pre-tax basis, if any
Keeps salary reduction and insurance information in same document for         complete wrap around plan administration
ADDITIONAL COMPLIANCE SERVICES 
Notice of Patient Protections
Notice of Coverage Options
Children’s Health Insurance Program Reauthorization Act (CHIPRA)
Wellness Program Disclosure
HIPAA Special Enrollment Rights Notice

With the SPD and Plan Document requirement, an increase in DOL auditors, and the recent DOL overtime ruling set to go into effect December 1, 2016, means an increased chance of an audit. In the past decade, 72% of DOL audits have resulted in penalties.  Employers should move quickly to assess all compliance risks. One way to start is by calling BASE® to make sure benefit plans include the necessary documentation required under federal law. 

Contact a BASE® representative today to learn more about the ERISA Wrap at 1-888-386-9680 or visit www.BASEonline.com


Emily Greiner
BASE®--Marketing/Communication Specialist 

Happy 4th of July from BASE®!

In observance of the 4th of July holiday, BASE® will be closed on July 1 & July 4. We hope you have a great 4th of July weekend!






Emily Greiner

BASE®--Marketing/Communication Specialist 

BASE® hr360—One Stop HR Solution

BASE® now offers hr360 as an online source for easy-to-understand explanations and analysis of complicated laws and confusing acronyms!

BASE® hr360 is your HR solution. It provides helpful support to assist business owners facing HR difficulties and helps protect them with answers 24 hours a day. Hr360 provides forms and other compliance measures that are key to your growing business. Whether your business is large or small, hr360 is your gateway to human resource compliance.

Hr360 offers many benefits that help you navigate your way through HR compliance and laws. This easy access library gives you instructions to stay in compliance with Health Care reform, COBRA, and FMLA. It also gives you tips and ideas on how to successfully manage your HR department and needs.  No matter your business size, these resources will help your business adhere to HR rules and regulations.

Hr360 benefits companies nationwide. With a breakdown of the most up- to- date information by state, your company is sure to be covered.  The library contains data specific to each state on continuation of benefits, minimum wage and much more.

 hr360 Offers:

Federal HR and Benefits Compliance

State HR and Benefits Information

Fast Answers to HR and Benefits Questions

Downloadable Forms, Policies and Checklists

How to Hire and Terminate Employees to Prevent Costly Lawsuits

Online Human Resources Tools

Consider subscribing to hr360 for must-have HR tools, forms, guidance and training.  Call 1-888-386-9680 to subscribe to hr360 - your attorney reviewed source for HR intelligence at your fingertips. 


Emily Greiner

BASE®--Marketing & Communication Specialist