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According to the Employee Retirement Income Security Act of 1974 (ERISA)requires that employers draft a written Summary Plan Description (SPD) for each welfare benefit plan and distribute it among the employees. ERISA regulations are applicable to a wide range of health and welfare plans, including Dental and Vision Plans, some EAP and wellness plans, Medical, Life & Disability Plans, and Health FSAs & HRA.
Source: https://www.dfinsurance.com/services/aca/erisa-wrap-document-services
Davidow Financial & Insurance Services, Inc. offers California Small Business Health Insurance for the small employers following the ACA compliances.
Davidow Financial & Insurance Services, Inc. offers California Small Business Health Insurance for the small employers following the ACA compliances.
Premium only plan is a pre-tax basis plan for the employer-sponsored benefits like group term life insurance or a Health Savings Account (HSA). To establish premium only section 125 plan, you need to put the details in writing, sign it and file it within the company records.
Davidow Financial & Insurance Services offers an exclusive range of financial and insurance services covering all your major business requirements. We are here to help you to customize your benefit package, so that you can attract and retain the best talent without breaking your budget. With our advanced technology, integrated payroll, and HRIS system we will be able to help grow and streamline your business while improving your human resource department.
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Davidow Financial & Insurance Services, Inc. offers California Small Business Health Insurance for the small employers following the ACA compliances. Thus, employers with a minimum of fifty or more employees must adhere to this mandate and submit necessary forms to IRS.
Need guidance for IRS 6055 and 6056 filing? Section 60555 reporting requirements apply to health insurance provider for small employers who sponsor self-funded health plans. On the other hand, 6056 is applicable for large employers.
The retirement landscape is turning volatile with the regulatory constraints, increasing product complexity, and growing financial risks. It is undoubtedly a hard task for the organizations to design an ideal retirement program that benefits the employees as well as aligns with the business goals. Are you on the same boat? Do not worry!
With a Section 125 plan, both the employers and employees can obtain taxable benefits. Also known as the premium only plan (POP) or cafeteria plan, it allows the employees to convert their taxed-based upsides, such as the salary into non-taxable mileages. Herein, their employers will set aside a portion of such employee’s pretax salary for covering the costs of privileges that the particular employee has qualified for.
Davidow Financial & Insurance Services, Inc. offers California Small Business Health Insurance for the small employers following the ACA compliances.
Implement the best insurance plans for your employees with the help of the small business insurance agency and grow your business without any employee dissatisfaction or other legal hazard!
