Legal challenge? FBA solution.
The benefits world is always changing and evolving. That’s a fact. And that’s why our legal services can be so important to you. Stay compliant with the proper preparation, testing, processing and attention we offer your staff through our services.
Many clients are unaware of how they can achieve and maintain lower benefit costs. By ensuring only eligible individuals are covered under benefits plans, we eliminate healthcare claims ineligible dependents incur that drive up benefit costs for all other parties.
The IRS, Department of Labor and Pension Benefit Guaranty Corporation jointly developed the Form 5500-series return for employee benefit plans to satisfy annual reporting requirements under ERISA and the Internal Revenue Code. Clients must generally file the return on the last day of the seventh month after their plan year ends.
A non-discrimination test can be performed when implementing a flexible benefit plan. Under IRS regulations, Section 125 plans benefit from favorable tax treatment. As such, there are certain non-discrimination rules in place to ensure these plans do not favor highly compensated or key employees over other classes of employees.
Plan Documentation Preparations
Under ERISA (the Employee Retirement Income Security Act of 1974), all employee welfare benefit plans must have a written plan document to identify basic information about the administered benefit programs. Plan document preparations are designed to help ensure clients meet applicable legal requirements under ERISA, the Internal Revenue Code, HIPAA, the Affordable Care Act and more.
We provide coverage, wherever you are.
FBA was one of the first third-party benefit administrators in the nation, and covers the nation, from coast to coast.
So no matter where you are in the United States, you'll be able enjoy all the advantages of our customized plans, personalized attention, excellent service, flexibility, knowledge and experience.