Compliance

The increasing compliance burden is particularly difficult for small and medium-sized organizations, many with one or two person HR departments tasked with day-to-day HR functions. ERISA Compliance, HIPAA compliance, COBRA administration, Flexible Spending Account (FSA) administration and 401(k) administration, and now Affordable Care Act compliance, make the HR administrator's job complex and daunting.  Getting into the details of the broad range of compliance issues is not typical to the average broker or consultant.  According to our attorney firm, these burdens will only increase: the DOL and IRS have increased hiring of auditors to monitor compliance across the board, with a particular focus on ACA and ERISA compliance.  This will only add pressure to client communication practices.  When you work with our firm, you can rest assured that we have the expertise and the systems in place to help our clients alleviate these burdens.

Healthcare Reform:

The Affordable Care Act

 

Since the Affordable Care Act was signed into law in March of 2010, the federal government has put a high priority on compliance audits.  This has become a significant focal point of Dean Benefits Group.

The ACA (Affordable Care Act) has caused a lot of confusion in the health insurance industry for companies and their health and welfare plans.  With increased regulations and compliance, it's difficult for most business owners, controllers and HR Managers to keep up with these demands on their organization. 

At Dean Benefits Group, we continually monitor the ever-changing laws and regulations. We keep our clients informed of the requirements of the law and design strategies that are compliant in today’s competitive marketplace.

Our goal is to take the burden off of you, your HR staff and your employees.

Compliance is imperative to Dean Benefits Group. Much of this has been driven by the implementation of the Affordable Care Act. We offer full support and direction to all of our clients in regards to the requirements associated with offering a health and welfare program.

Tax Reporting Requirements

 

Starting in 2015, Applicable Large Employers (ALEs), or employers with over 50 Full-Time Equivalent employees (FTEs), are required to provide health insurance or pay an employer shared responsibility payment. This "Pay or Play" piece of the legislation is a giant liability for many businesses. In addition to offering a health plan with Minimum Essential Coverage (MEC) that is affordable, ALEs are required to report their offer of coverage as outlined in the IRS sections 6055 and 6056. We have solutions on how to accurately complete the reporting requirements and offer support in the following areas:

  • 1094/1095 Form Filing Guidance

  • Applicable Large Employer Determination

  • Full-Time Equivalent Calculation

  • Measurement/Stability Period Management

  • Determining Affordability Of Coverage For Employees