The recurring filings and notices every group health plan sponsor has to get right — Form 5500, SARs, ACA reporting, HIPAA obligations, and nondiscrimination testing.
Generally yes for ERISA health plans with 100 or more participants at the start of the plan year; smaller fully-insured or unfunded plans are usually exempt. Form 5500 is due the last day of the seventh month after the plan year ends, with a 2.5-month extension available.
Read the full answerThe SAR is a one-page participant summary of the plan's Form 5500, due to covered participants within nine months after the plan year ends (or two months after an extended 5500 deadline). If your plan files a 5500 and isn't exempt, participants must get a SAR.
Read the full answerApplicable large employers (50+ full-time equivalents) must file Forms 1094-C and 1095-C annually, furnishing 1095-Cs to employees, to report offers of coverage. Self-funded employers of any size also report covered individuals (Forms 1094-B/1095-B or Part III of the 1095-C).
Read the full answerAfter discovering a breach of unsecured protected health information, the plan must notify affected individuals without unreasonable delay and within 60 days, notify HHS (immediately for breaches of 500+, annually for smaller ones), and notify media for large breaches — while documenting its risk assessment.
Read the full answerNondiscrimination testing checks that tax-favored benefits don't disproportionately favor highly compensated or key employees. Cafeteria plans, health FSAs, dependent care FSAs, and self-funded health plans (under Code Section 105(h)) each have their own annual tests — failing shifts taxes onto the favored group.
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