Medcom offers a broad range of ERISA compliance services for employers as a part of our core administrative service or on a stand-alone basis. You may contact us at sales@emedcom.net if you would like to learn more about our professional services.
Plan Document
A Plan Document is the master description of benefits under which the employer's health and welfare plan is administered. Under IRS and DOL guidelines, a written Plan Document is the starting point for an employer to enhance their benefit package and take full advantage of the tax code. Medcom provides a full staff of Compliance professionals for employers who are poised to assist with the preparation of Section 125 Cafeteria Plans, Section 105(h) HRA or self funded plans, Section 129 Dependent Care Assistance Plans, Section 132 Parking and Transit Plans or Section 137 Adoption Assistance Plans. We partner with two of the leading Plan Document software platforms in the regulatory compliance space to make sure requests are met in a timely manner and incorporate the most current regulatory guidelines. Please contact us at sales@emedcom.net for more information about our Plan Document preparation services.
Non-Discrimination Testing
Employers must satisfy the federal Non-Discrimination Tests for all regulated plans in order to maintain full tax deductibility for both the employer and participant. Medcom performs all required Non-Discrimination Tests as directed by the IRS guidelines. Our services are available to all administrative service clients as well as employers who are looking for testing services only. Please contact us at sales@emedcom.net for more information about our Non-Discrimination Testing services.
Form 5500
The Form 5500 Series is an important compliance, research, and disclosure tool for the Department of Labor, a disclosure document for plan participants and beneficiaries, and a source of information and data for use by other Federal agencies, Congress, and the private sector in assessing employee benefit, tax, and economic trends and policies. These forms are generally required for welfare plans with 100 or more participants at the beginning of the plan year and for pension plans. Medcom provides a "turn -key" service for assisting employers with the preparation of these required reporting forms, including Summary Annual Reports for distribution to plan participants. Please contact us at sales@emedcom.net for more information about our Form 5500 Reporting services.
Wrap Documents
A Wrap Document, also referred to as a "Wrap Plan", adds the necessary language to enable an employer to comply with ERISA requirements such as stating plan name, plan year and number, agent for service of legal process, name(s) of fiduciaries, required language for QMCSO, Women's' health issues, Distribution of Assets Upon Plan Termination, claims procedures, and a host of other mandated verbiages. Many Plan Documents/SPD's are not in compliance with ERISA since most insurance companies only draft language to meet state mandates, not ERISA mandates. Another benefit of the Wrap Document is to group all the benefit plans together to form one plan for Form 5500 filing purposes, which reduces administrative costs. It can be upgraded each plan anniversary for new provisions and plan additions/deletions. Please contact us at sales@emedcom.net for more information about our Wrap Plan Document preparation services.
Comprehensive ERISA Plan Review
As the number and complexity of benefit plans have exploded over the past twenty years, it has become increasingly difficult for employers to keep up with all ERISA regulatory compliance guidelines and changes to these guidelines. Medcom has a workable solution. We will provide a Comprehensive ERISA Plan Review to assist the employer in making sure all of their ERISA Plans, Plan Documents, Non-Discrimination testing results and 5500 Reports are accurate and in compliance with all governing federal guidelines. Please contact us at sales@emedcom.net for more information about our Comprehensive ERISA Plan Review services.
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