ERISA Wrap SPD Video — DOL/ACA-required for all employer group health plans

Core Documents, the nation’s leading provider of Section 125 Cafeteria and HRA plan documents, announces the release of its recently updated ERISA Wrap SPD Video. See it here:

ERISA Wrap SPD Video Explains It All

The ERISA Wrap SPD Video explains the requirements by ERISA and the Affordable Care Act as concisely as possible:

• Employers offering a group health plan have to distribute a Wrap SPD within 120 days of the Plan’s effective date.
• Failure to provide the Wrap SPD within 30 days of request triggers a $110 a day fine per participant.
• Not having a Wrap SPD can also trigger an audit by the Department of Labor.
• The insurance company’s Master Contract, Certificate of Coverage, or Summary of Benefits is not a Wrap SPD.
• These rules apply to all employer-sponsored group health plans, including a one-person plan.

How to order

Core Documents’ Group Insurance Wrap SPD document is available for a $99 one-time fee — you only update your Wrap SPD document as your benefit options change. Initially, Core Documents will only offer the low cost Wrap SPD document for fully insured group health insurance plans.

Online Order Form: Core Group Insurance Wrap SPD Online Order Form

Fax Order Form: Core SPD Group Insurance Wrap SPD Fax Order Form

You might find the following posts helpful after viewing the ERISA Wrap SPD Video:

ERISA Wrap SPD Plan Document – $99 one-time fee

What the ERISA Wrap SPD must communicate to employees

Why Your Business Needs a Section 125 Cafeteria Plan Document

Core SPD Group Insurance Wrap SPD for $99 Fax Order Form