As the laws change so rapidly with respect to employee benefits, we help our clients navigate these waters so that our clients are achieving their benefits goals when it comes to their companies and their employees while balancing real world solutions with complex regulatory compliance. Employee benefits, including retirement plans and health plans, are complex, vulnerable to regulatory change, and in a state of continual flux. This puts plan sponsors in a vulnerable position of attempting to comply with fast-changing regulations and avoiding severe compliance fees. Fiduciary compliance for plan sponsors, and others, also arise in this area as well, often without fiduciaries knowing of any compliance issues.
We advise our clients on a significant range of regulatory compliance issues, such as:
- Employee Retirement Income Security Act (ERISA)
- Internal Revenue Code (IRC)
- Affordable Care Act (ACA)
- Health Insurance Portability and Accountability Act (HIPAA)
- Consolidated Omnibus Budget Reconciliation Act (COBRA)
- Medicaid / Medicare, as it relates to employer-provided health care plans
- Controlled group and affiliated service group analysis
- regulatory compliance, governance, correction and audit of plans with the Department of Labor (DOL), the Internal Revenue Service (IRS), the Pension Benefit Guaranty Corporation (PBGC) and the Department of Health and Human Services (HHS), and/or internal compliance, governance or audits with the client, as applicable
In addition to helping our clients in the design, implementation and review of plans and policies and procedures, we also assist our clients in drafting and reviewing all contracts and agreements which are affected by such regulatory compliance issues. Moreover, we assist our clients with notice and distribution requirements as well as Federal reporting obligations under the ACA, HIPAA, and other Federal laws. Further, we assist our clients with any or all training with respect to compliance to ensure that employer programs are fully implemented according to applicable regulations.