Compliance Frequentlyed Ask Questions

Frequenty Asked Questions

ERISA applies to every employer that offers an employee benefit plan.
Title I of ERISA applies to all private sector health plans to protect the interests of employees and their beneficiaries who are enrolled in the employer benefit plans
Yes, all employers are required to have employee handbooks.
No, ERISA SPD is required for all plans an employer offers.
Benchmark Planning group can run a pressure test on your current situation to identify areas of potential concern.
Yes, except for gross misconduct, an offer of extended coverage must be made.
COBRA generally applies to group health plans sponsored by employers with 20 or more employees in the prior year, state continuation is for groups under 20.
Under current Affordable Care Act guidelines, yes large employers must offer coverage or potentially pay a penalty.
If an employer had 50 or more full time equivalent employees in the preceding calendar year they are deemed a large employer under the ACA. Some states regulations increased small group up to 100, such as NY where a large employer is over 100 full time equivalent employees.
If an employer has 50 or more full-time equivalent (FTE) employees, the ACA requires that they offer affordable coverage, which meets minimum value standards, to at least 95% of their full-time employees. Employees that work at least 30 hours each week are defined as full-time under the ACA.
You must currently live in the United States, a US citizen or legal resident. You cannot be currently incarcerated. Your income can be no more than 400 percent of the federal poverty level.
Yes, the federal government takes compliance very seriously and there are a number of violations that a manager can be personally liable.
Yes, a POP plan. A Premium Only Plan (POP) is a salary reduction plan that allows employees to pay group insurance premiums on a pre-tax basis.
No. According to IRS guidelines, anyone with two-percent or more ownership in a schedule S corporation, LLC, LLP, PC, sole proprietorship, or partnership may not participate.


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