Introducing the New Era of HRAs: ICHRAs and QSEHRAs
A health reimbursement arrangement (HRA) is a tax-advantaged benefits solution that allows employers to reimburse their employees for qualified health costs or individual insurance premiums. Traditional health insurance plans are becoming more rigid and complex, therefore, integrating an HRA can help ease the burden of increased costs for employers. However, with the various types of HRAs available, it may be hard to decide which type is right for you. In addition to the standard integrated HRA and excepted benefit HRA, there is a new era of HRAs which includes the Individual Coverage HRA (ICHRA) and Qualified Small Employer HRA (QSEHRA). Join Regional Sales Director, Daniel Lopez, to learn more about the world of HRAs.
1.0 HRCI & 1.0 SHRM: Audit-Proof Your Business: Strategies to Avoid a Department of Labor Audit
The Department of Labor (DOL) is back in action and completing audits of private sector employers that are subject to ERISA regulations. They are targeting Health & Welfare Benefit Plan Compliance, especially late and non-filers for Form 5500. Employers who offer benefits are considered Plan Sponsors and must follow a strict fiduciary code of conduct. If non-compliance is found, the DOL may enforce fines and penalties.
Carolyn McNairy, Vice-President of Strategic Partnerships, will cover the following topics:
- Which employers are subject to Health & Welfare Benefit Plan Compliance
- What are the requirements
- Penalties and fines for non-compliance
- Current DOL investigations
- Why outsource and BASIC’s solution
