Compliance Services

Premium Only Plan - Section 125

A Section 125 Premium Only Plan (POP) is an easy and efficient way to reduce employer and employee taxes. A Section 125 POP reduces taxes and costs and increases employees’ take-home pay. Pre-taxing employee contributions without a Section 125 POP plan is a compliance error with serious consequences, but isolved takes that burden away.

The plan may make benefits available to employees, their spouses, and dependents. It may also include coverage of former employees but cannot exist primarily for them. If you’re hoping to take advantage of pre-tax deductions for employee contributions to a welfare benefit plan, this is for you.

ERISA

Failure to comply with the strict regulations under ERISA (Employee Retirement Income Security Act of 1974) can result in hefty fines. But remaining current with these ever-changing rules and requirement is a full-time job, and most smaller companies don’t have the resources to stay up to date.

An ERISA wrap document can simplify compliance with ERISA rules related to plan documents and summary plan descriptions (SPDs).

ACA

The Affordable Care Act brings on a whole new set of challenges for employers. A company that employs 50 or more full-time equivalent employees is defined as an Applicable Large Employer (ALE). The employer mandate requires all ALEs to offer minimum essential coverage that is both affordable and provides a minimum value or face a penalty called the Employer Shared Responsibility Payment (ESRP) (play or pay). This coverage must be offered to all full-time (FT, defined by total hours of service 30 hours or more per week).

Employers should already be collecting and managing data, such as hours worked, employee status, offers of coverage and more. With ACA Compliance added to your isolved HCM software, you can capture much of the data you need automatically and automate key tasks at the end of employee measurement periods.

It’s estimated that up to 90% of employers are not prepared to meet the significant reporting requirements the ACA has imposed. Get started on your compliance journey with isolved’s ACA Resource Center.

Notice Mailings

Employers must keep their employees informed of their rights and responsibilities. To meet this legal requirement, an employer must send out various notices on a regular basis.

With Blanket Mailing service from isolved, employers can eliminate these tedious tasks from their to-do lists. We will handle mailing FMLA General Notices, COBRA General Notices, and many other notices and documents. When you eliminate these tasks from your workday, you’ll be able to concentrate on the more important things, like your business.

Blanket Mailing Service from isolved gives you the option to select the notices you need to fulfill your compliance requirements.

• Affordable Care Act Notices
• Grandfathered Health Plan Notice
• Patient Protection Notice
• CHIP Notice
• COBRA General Notice
• FMLA General Notice
• HIPAA Notice of Privacy Practices (NPP)
• Medicare Part D Notice of Creditable or Non-creditable Coverage
• Women's Health and Cancer Rights (WHCRA) Notice

Non-discrimination Tests

Non-discrimination testing is vitally important to plan compliance. If you have a Flexible Spending Account (FSA), Premium Only Plan (POP), Health Reimbursement Account (HRA), or a self-funded health plan 105(h), the IRS requires you to conduct non-discrimination testing once a year.With isolved, testing is quick and easy! Simply answer a few questions, upload the data, and we’ll take care of the analysis, delivering an in-depth report that even includes reduction amounts for failed tests.