Benefits Compliance Portal Updated

NFP’s Benefits Compliance Portal is a comprehensive tool to assist employer plan sponsors with their compliance efforts with federal requirements such as the ACA, ERISA, COBRA, HIPAA, FMLA, Nondiscrimination and Section 125. Each requirement is identified on a checklist containing model notices, an employer’s obligation, and timeline for compliance and penalties for noncompliance.The portal has recently been updated to include 2017 indexed amounts for health FSA employee salary reduction limit ($2,600), maximum out-of-pocket limit for non-grandfathered health plans ($7,150 for single; $14,300 for family), employer mandate penalties ($2,260 for Penalty A; $3,390 for Penalty B) and ACA reporting penalties (up to $520 per form). Additionally, requirements for retiree-only plans have been updated to include Section 6055 reporting and PCOR filing. The Prohibition on Stand-alone HRA’s has been updated to reflect the option of smaller employers to adopt a qualified small employer HRA (QSEHRA).If you would like access to the portal or additional information, please contact your advisor.