Since the enactment of ERISA and the Affordable Care Act (ACA), organizations are faced with implementing – and communicating – more than 80 employee benefit regulations.
Some of the more challenging regulated documents include Summary Plan Descriptions (SPDs), Summaries of Benefits and Coverage (SBCs), Notices of Exchanges and 204(h) materials. Most regulations have been issued with minimum communication standards—addressing content, structure and tone, timing and distribution requirements. And each required document has its own financial, civil and even criminal penalties for non-compliance. That’s a lot to juggle.
Creating benefit documents and materials for employees can be complex, especially when employers must draw from multiple sources for information. Once materials are produced, there’s no guarantee employees will read the information or, perhaps more troubling, understand it.
Our ERISA and ACA compliance team provides comprehensive support through automated benefits plan management, technology-updated regulatory language and templates, full content development, compliance and readability analyses.
Our team combines decades of experience communicating employee benefits with a deep and broad knowledge of employee benefit plans and the corresponding regulations.
Working with DirectPath:
- Reduces litigation risk
- Reduces risk of fines, penalties and back benefit awards
- Dramatically reduces costs and improves efficiencies
- Improves participant understanding and appropriate use of benefit plans
- Improves health care consumerism and cost-conscious behaviors
Related Viewing: The Beauty of DirectPath: Being ACA and ERISA Compliant