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Our in-house compliance expert is a valuable resource for our large and small clients. We understand that the complexity of the laws is confusing and ever-changing, which is why we provide assistance and guidance to our clients.
There are some misconceptions in our industry when it comes to disclosure under ERISA for health and welfare plans. At the end of the day, it is employers and not carriers who are responsible to ensure they are providing participants with compliant Summary Plan Descriptions (SPD). Annual 5500 reporting is required for all employer groups with 100 or more participants in any health and welfare plan. This is often overlooked when a group has 100 participants in group life insurance but less than 100 in health insurance. Liberty can prepare both your SPD and in most cases your 5500 forms.
Liberty clients may utilize a reporting tool we have available to prepare ACA reporting. We will act as a resource to help you understand these responsibilities and ensure you are equipped. Our compliance specialist also works with clients if they receive an inquiry from the IRS regarding ACA reporting and potential fines that may occur for failure to report and/or resolve issues caused by inaccurate reporting.
Liberty realizes that complex and sensitive employee issues happen in every workplace. Through our Liberty client portal clients can access a library of comprehensive resources including access to HR professionals from around the country to assist our clients with the complexities of HR. Our Liberty Solutions Center saves employers time, resources, and money by housing volumes of information in one location.
This suite of resources includes compliance tools, multi-state comparisons for regulatory requirements such as paid leave requirements, benchmarking compensation, interview tools, and much more.
Through our Liberty client portal, clients can access a library of comprehensive resources. This includes access to HR professionals from around the country to assist our clients with the complexities of HR. Our Liberty Solutions Center saves employers time, resources, and money by housing volumes of information in one location.
This suite of resources includes compliance tools, multi-state comparisons for regulatory requirements such as paid leave requirements, benchmarking compensation, interview tools, and much more.
Our solution assists our employer clients with open enrollment functions. The digital enrollment tool captures employee data, housing it in a central and secure location. This system includes EDI capabilities which simplifies the process for both HR and employees. And, with the aid of our app and web-based enrollment solution, employers can reduce the time and cost required for enrollment.
Liberty provides a comprehensive review to ensure our clients comply with DOL standards and filings, helping them avoid fines, penalties, and fees. Our compliance department works with clients to ensure they are ERISA, COBRA HIPAA, ACA compliant and that related disclosure and reporting requirements are all met.
We understand that benefits are not benefits unless your employees are familiar with all you provide. Employee benefits are expensive, so we feel it is important to provide education and information on several fronts to assist your employees in becoming familiar with your organization’s benefits program.
Seasoned experts that work hand in hand with clients and insurance carriers, resulting in favorable outcomes for our long-term clients.
Creative plans designs and alternative funded mechanisms can provide savings for many employers. Our seasoned consultants will dig deep and work with our clients to seek opportunities for financial savings.
Contact us today for your free risk review and to discuss how we can help you accomplish your specific companies goals.
ERISA DISCLOSURE
5500 preparation, summary plan descriptions, plan documents
ACA REPORTING
We assist you in understanding your obligations and sourcing options for required reporting.
HEALTH RISK CONSULTING
Our in-house wellness coordinator pulls resources from numerous sources to customize a wellness program that is right for your organization. Heathy employees are more productive and present, and they cost less in claims, which drives premiums lower.
HR HANDBOOK AND CONSULTATION
Liberty realizes that Complex and sensitive employee issues happen in every workplace. Having access to HR professionals and a comprehensive library for guidance is another Liberty Advantage Solution.
ANNUAL COMPLIANCE AUDITS
Liberty provides a comprehensive review to ensure our clients are compliant with DOL standards and filings, helping you avoid fines, penalties, and fees.
HEALTH CARE REFORM, ERISA, HIPAA, COBRA
Our in-house compliance expert is a valuable resource for our clients both large and small. We understand the complex laws are confusing and ever changing, which is why we provide assistance and guidance to our clients.
LEGAL NOTICE/DISCLAIMER: The information contained herein is provided solely for general informational purposes and is not intended to be a solicitation or an offer to sell in connection with any product or service, nor is the information a complete description of all terms, conditions, and exclusions applicable to the products and services described. Products and services referenced herein may not be available in all jurisdictions. Copyright © Liberty Insurance 2022 All Rights Reserved.
