2340 Detroit Ave, 3rd Floor Maumee, OH 43537 | Phone: 419-535-5502

Qualified Small Employer Health Reimbursement Arrangements and ERISA | Ohio Benefit Advisors

Certain small employers have the option to reimburse individual health coverage premiums up to a dollar limit through Qualified Small Employer Health Reimbursement Arrangements (QSE HRAs) under the 21st Century Cures Act (Cures Act). The Cures Act amends the Employee Retirement Income Security Act of 1974 (ERISA) to exclude QSE HRAs from the ERISA definition … Continued

Medicare Part D: Creditable Coverage Disclosures | Ohio Benefit Advisors

Entities such as employers with group health plans that provide prescription drug coverage to individuals that are eligible for Medicare Part D have two major disclosure requirements that they must meet at least annually: Provide annual written notice to all Medicare eligible individuals (employees, spouses, dependents, retirees, COBRA participants, etc.) who are covered under the … Continued

Avoid Increased Penalties by Filing Annual Benefit Plan Reports on Time | Ohio Employee Benefits

Form 5500 is the annual report that group benefit plans use to report required information about the plan’s financial condition and operations. Most group and pension plans that are subject to ERISA are required to file a Form 5500. With the July 31 deadline for calendar year plans fast approaching, and higher penalties for not … Continued

Follow this Record Retention Checklist

The IRS Wednesday issued its yearly changes to health spending account contribution limits and out-of-pocket maximums to adjust for cost-of-living.

Fear of the DOL health plan audit

Perhaps you have heard that the DOL expressed its goal to audit all employee benefit plans by the end of 2015. A daunting task, yes, but most agree the task is logistically impossible. Are you prepared for a DOL audit? Are you prepared for the work that is involved and the fines for non-compliance?

DOL Begins Auditing Group Health Plans

Employers should consider taking a serious look at their group health plans, not only for compliance with the PPACA, but also with the long standing mandates for group health plans – ERISA, HIPAA, COBRA and others laws.

ERISA Bonding – Not as Easy as it Looks

Read about separating ERISA bonds from fiduciary liability insurance

To be or Not to Be, Court Holds TPA “To Be” An ERISA Fiduciary

TPA was held liable for breaching its fiduciary duty by not disclosing certain fees.

Retirement Plan Fee Disclosures: Now What?

Separate notices must then be sent to plan participants describing the fees that might be assessed against their accounts.

Unintended Consequences of Individual Benefit Discussions

If the answers those employees receive turn out to be incorrect, the responders may be accused of violating their fiduciary duties under ERISA, and the plans at issue may be required to pay unexpected benefits.

Top