Compliance

COMPLIANCE SERVICES

Listed below are some of the many responsibilities that employers face when it comes to compliance. Grace & Porta is ready to help your organization meet its compliance requirements and goals.

• ERISA requires that employers furnish covered employees with Summary Plan Descriptions (SPDs). SPDs must be updated every time an employer updates or changes its benefit offerings, and they must be distributed to plan participants (though not as often) even if no changes are made to company benefits. Most employers (regardless of size) are required by law to provide SPDs to covered employees.
• Under ERISA, Form 5500 is required for employers that have 100 or more employees at the beginning of the plan year.
• The Affordable Care Act stipulates that employers with 50 or more full-time employees and all self-insured employers must annually file Form 1095-C, which shows that their plan offerings are in compliance with ACA regulations.
• The federal government and state governments require that certain notices be supplied to employees regarding their benefits, including but not limited to: CHIP, Medicare D Creditable or Non-Creditable Coverage, HIPAA, COBRA, and Patient Protections.
• Employee handbooks, while always a good practice for healthy businesses, have become absolutely essential for the businesses of today. An unthorough employee handbook can have a host of negative consequences for an employer that are completely avoidable with proper guidance from an attorney or HR expert.
• Human Resources is about empowering a workforce to perform to its highest potential. HR audits can strengthen and equip your HR department to serve your people with excellence.