As regulatory compliance continues to increase in complexity, Medcom Benefit Solutions has designed a streamlined approach to meet regulatory compliance needs including, but not limited to, Form 5500 Reporting, Wrap Document Preparation, Nondiscrimination Testing, ERISA and PHSA Plan Compliance Reviews, and technical writing. Medcom continues to enhance its service portfolio, ever-improving integral technologies, client interfaces, and operating efficiency. Along with maintaining proficient staff and expert legal resources, these continued efforts enable Medcom to provide optimized solutions for employers seeking tax-advantaged benefit plans, ERISA compliance, and COBRA administration services.
The “Operation Comply” campaign is designed as a concerted mutual effort to assist agency clients in achieving a new level of compliance through the preparation of new or restated Wrap Documents, Cafeteria Plans, HIPAA Privacy Policies, and other documents.
The Operation Comply Advantage:
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We offer a dynamic new compliance management tool, Medcom Bridge, which addresses the compliance development needs of most employee benefit practices. This platform allows brokers and employee benefit consultants to manage their compliance needs all in one place. Medcom Bridge focuses on the following critical areas:
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Medcom Benefit Solutions provides a comprehensive compliance audit to enable employers to evaluate their health and welfare programs.Learn More
The Comprehensive Employee Handbook Review is performed by an attorney experienced in the areas of federal employment law, human resources, and employee benefits.Learn More
The Document Checkup is designed as a cost-effective solution for identifying potential coverage gaps.Learn More
Our experienced compliance professionals will walk through a comprehensive checklist covering dozens of key compliance checkpoints to help you determine whether your program is compliant and where action needs to be taken to clarify inconsistencies.Learn More
In addition to promoting a healthy and productive workforce, the wellness plan encourages employees to take a proactive approach to preventing disease and promoting health.Learn More
Wellness plans may be designed as participatory programs or as health-contingent programs. Participatory plans are generally available without regard to an individual’s health status.Learn More
The wrap plan document simply “wraps around” and incorporates the contracts or booklets provided by insurance companies for the benefits they insure.Learn More
Medcom Benefit Solutions provides amendments to documents as needed, including the Summary of Material Modifications for distribution to participants.Learn More
Our Benefits Notices Package provides the employer with required benefits notices customized for their company.Learn More
In order to maintain full tax-deductible status for both the plan and its participants, plans must satisfy nondiscrimination requirements as established in the Internal Revenue Code.Learn More
Form 5500 provides statistical information about the plan and plan sponsors, reports financial information about the plan, and demonstrates compliance.Learn More
Medcom Benefit Solutions works with employers to actuarially determine the appropriate COBRA premiums based upon their plan design, demographics, and prior claims history.Learn More
Incurred But Not Yet ReportedLearn More
An alternative way for funding an employer sponsored medical coverage program is a self-funded financing method. With the self-funded method, the employer generally assumes more risk but has the potential for saving a significant amount of money.Learn More
It is important for a self-funded employer to have unbiased information on potential costs in the future rather than rely on the projections produced by a reinsurance carrier.Learn More
Medcom provides a comprehensive analysis of the medical claims history for the group in order to detect prevailing trends and an actuarial projection of where the premiums should be targeted for the next year.Learn More
One of the growing strategies for employers in achieving lower healthcare costs includes the use of a Health Reimbursement Arrangement (HRA) with their underlying “core” medical plan.Learn More