November’s Featured Video
Plan Documents: ERISA, Section 125, SPDs, and Wraps, Oh My!
Group health plans have a multitude of documents that need to be compliant with federal regulations. Cafeteria plans must have plan documents as well as documentation evidencing the adoption of the plan, and plans subject to ERISA need a plan document outlining the plan’s terms for a number of items, including eligibility, benefits, exclusions, a named fiduciary and plan administrator, claims and appeals procedures, funding information, and other items, These requirements are separate from the summary plan description (SPD) and Summary of Benefits and Coverage (SBC) requirements that plans must also meet.