Compliance has become increasingly complicated for employers to keep up with the changing laws and regulations that come with managing employees and sponsoring a health plan. Employers are often overwhelmed and surprised to learn of their potential liability when these compliance obligations are not properly managed.
Having the right resource partner makes good sense, so that the “T’s” are crossed and the ”I’s” are dotted. When it comes to compliance the details are important. For example failure to send an employee communication and/or file a report with IRS or DOL can cost thousands of dollars.
An effective compliance partner makes it easier for administrators to understand, develop and maintain an effective compliance program. It simplifies and reduces employer liability and risk.
Contact our office for a compliance assessment to determine if you have any exposure.