Compliance.
We’ll keep up with the rules, you keep up with your business
“The only constant in life is change.” -Heraclitus
We’ll take it from here
Rules and regulations for Health Insurance and Employee Benefits change rapidly.
Between ERISA, Affordable Care Act, Medicare reporting, COBRA, 1094 and 1095 forms, it's almost impossible for companies to keep up with the changes.
We've invested in systems that allow us to produce compliance documents and we hired a full-time compliance officer. We provide all compliance documents and reporting requirements to our clients for NO COST!
ERISA Wrap Documents
Many employers assume that insurance contracts for fully insured products are written plan documents. Insurance companies, however, draft their contracts to comply with state insurance laws, and, as a result, the contracts do not contain many of the ERISA-required or recommended provisions. An ERISA Wrap Document contains all the necessary language to comply with ERISA rules. Our Compliance Department provides ERISA Wrap Documents at no cost!
Form 5500
ERISA generally requires group health plans to annually file a report with the U.S. Department of Labor that contains financial and other information about the plan. This filing is made via Form 5500, and must be filed electronically by July 31
Employee Handbooks
An employee handbook is an important tool you can use to effectively communicate information regarding your company's policies, practices and employee benefits. A well-written handbook sets forth your expectations for your employees, and describes what they can expect from your company. Our Software allows us to create state and federal-compliant employee handbooks.
Section 125 / POP Plan
A Section 125 plan is the only means by which an employer can offer employees a choice between taxable and nontaxable benefits without the choice causing the benefits to become taxable. A plan offering only a choice between taxable benefits is not a section 125 plan. We provide Section 125 / Cafeteria plans at no cost to our clients
1094 and 1095 Reporting
The Affordable Care Act requires insurers, self-insuring employers and other parties that provide minimum essential health coverage to report information on this coverage to the Internal Revenue Service (IRS) and to covered individuals (referred to as Section 6055 reporting). We provide 1094 and 1095 forms at NO COST to our clients!
COBRA
The federal Consolidated Omnibus Budget Reconciliation Act (COBRA) generally requires employers with 20 or more employees with group health plans to offer employees, their spouses, and their dependents a temporary period of continued health care coverage if they lose coverage through the employer’s plan. We administer COBRA at no cost to our clients. Click below to learn more!
Contact us.
info@bacbroker.com
(937) 335-5751
1930 Prime Ct. Suite 103
Troy, OH 45373