Is your company’s insurance and benefits packages ERISA compliant? If you are not sure, contact Wevodau today. We can conduct an ERISA compliance audit and explain the consequences of not staying compliant.
ERISA Compliance
What is ERISA?
The Employee Retirement Income Security Act (ERISA) is a set of federal laws and regulations that govern welfare benefit plans and qualified retirement plans. Employers must have a written plan document and are required to deliver a summary of it, a Summary Plan Description (SPD), to their participants regardless of how many employees participate. The SPD is the main vehicle for communicating plan rights to participants.
Does My Company Need to Be ERISA Compliant?
Almost every employer who offers health insurance benefits, regardless of its size or number of employees must comply with ERISA; the only exceptions are church and government plans. Yet it is all too common that companies are not compliant, either because insurance agencies don’t provide the proper documentation, or that internal teams don’t know where to find them.
ERISA Compliance Service
At Wevodau Insurance & Benefit Strategies, we want you to be compliant with ERISA and all other ACA requirements. We have partnered with a local firm who specializes in Summary Plan Document preparation and provides services to help employer groups be compliant with ERISA guidelines.
Hear from Our Happy Clients
Wevodau has been a valuable asset to our company, helping us navigate the yearly changes in healthcare coverage. They supply us with insight into the healthcare options available so we can make the best decisions for our employees.
Peak Sales & Marketing
Our experience with working with Wevodau Insurance has been very positive. Connie is very responsive, informative, gets us the best health insurance packages and is very pleasant to work with. We have been working with her for many, many years!
The Drexel Group
Wevodau Insurance has provided our company with health insurance benefits for many years. Emily has always worked to get the best benefits to fit our company. I would highly recommend Wevodau Insurance Agency
Kuntz & Son, Inc.
Wevodau has been a trusted partner in helping our company navigate the complex issues surrounding company employee benefits. They have been particularly helpful in helping our company develop medical plans that have helped the company control costs without changing employee benefit levels.
Hanover Foods Corporation
Schedule an ERISA Audit
Unsure if you are compliant with ERISA? Contact us to schedule an ERISA compliance audit.