ABOUT Wrap SPD Plan Document
Avoid the Affordable Care Act $110 per Day per Employee Fine with a Wrap SPD for Your Group Health Plan
$99 one-time fee in PDF via email*
$149 one-time fee in PDF email* + Deluxe Binder via USPS
Core Documents will notify you when there are sufficient changes in the Code to require amending and restating
your Plan. You can amend and update anytime your benefit plan options change for just $99. You only amend the
Wrap SPD when necessary which is the most cost effective way to establish and maintain a compliant Wrap SPD Plan
Document. As the name suggests, it is a summary of the material provisions of the plan documents, and it should
be understandable to the average participant of the employer.
1-888-755-3373
Core Documents will notify you when there are sufficient changes in the Code to require amending and restating
your Plan. You can amend and update anytime your benefit plan options change for just $99. You only amend the
Wrap SPD when necessary which is the most cost effective way to establish and maintain a compliant Wrap SPD Plan
Document.
*Most documents go out the same day via email within hours M-F. Orders placed on the weekend will be emailed
Monday morning. Keep in mind that December, January, and February are our busiest months of the year and
documents are processed in the order they are received. The Rush Order fee ($25) simply brings your document
to the top of the stack to be processed immediately.
What is an ERISA Wrap Summary Plan Description (SPD)?
Bradenton, FL – The new Core Documents Group Insurance Wrap SPD is now available to order for just $99, updated as needed when your Plan changes. Initially Core will only offer the low cost Wrap SPD document for fully insured as well as self-funded plans and ancillary benefit plans.
Core Documents is now offering ERISA “Wrap” Summary Plan Description (SPD) documents for employer sponsored group health insurance plans. The product name “Wrap” as they’re now referred to in the marketplace, is a bit of a confusing misnomer. Many believe the term “wrap” implies wrapping all employer sponsored health and welfare benefit plans and pension plans into one Summary Plan Description for ease of 5500 filing. This is where the confusion comes in. The term “wrap” actually implies a “wrapper” for an employer group health insurance plan. Group insurance Certificates of Insurance are typically not SPDs because they do not contain all of the language required by ERISA. An employer must prepare an ERISA “wrapper” to supplement the Certificate of Insurance. Together, the wrapper and Certificate of Insurance comprise a proper SPD.
The Summary Plan Description, or SPD, is the main vehicle for communicating plan rights and obligations to participants and beneficiaries. As the name suggests, it is a summary of the material provisions of the plan document, and it should be understandable to the average participant of the employer. However, in the context of health & welfare benefit plans, it is not uncommon for the SPD to be a combination of a complete description of the plan’s terms and conditions, such as a Certificate of Coverage, and the required ERISA disclosure language. Note: An insurance company’s Master Contract, Certificate of Coverage, or Summary of Benefits is not a plan document or SPD.