Compliance Solutions 2017-09-05T15:46:18+00:00

Compliance Solutions

Education

Equinox provides constant guidance on the ever changing landscape of the health insurance marketplace through ongoing webinars and individual consulting. Our on staff compliance officer, in conjunction with our retained ERISA/ACA attorney are always in tune with the every changing landscape of the health insurance marketplace.

Compliance Practices

  • Wrap/Plan Document Creation
  • Corporate Resolution
  • SBC, Notice of Exchange & ERISA Required Notes
  • Notice of Privacy Practices
  • COBRA Notices
  • 5500 Filing and SAR
  • ACA Reporting-PCORI, Transitional Reinsurance, 6055/6056
  • DOL Audit Guidance
bswift
Workforce Today

Technology Solutions

At Equinox, we utilize multiple technology platforms to assist our clients. Bswift and Workforce Today both offer a suite of compliance solutions to help employers navigate the new world of health care & benefits and comply with the complex provisions of the Affordable Care Act (ACA). In today’s rapidly changing environment, their tools are quickly and easily configurable and available on demand, with numerous scheduling and alert options, to meet your specific business needs. Leverage Equinox’s team of experts and fully automated tools for the ongoing support of your program and ACA compliance.

Employer Reporting

Employer Reporting

  • New taxes/fees, such as the Patient Centered Outcomes Research Institute (PCORI) fee & the reinsurance tax
  • Section 6055 IRS return/the individual mandate
  • Section 6056 IRS return/the employer mandate

Regulatory Plan Changes

Regulatory Plan Changes

  • 90-day new hire wait limit
  • Auto-enrollment (when applicable)
  • Dependent coverage rules (e.g., age 26)
  • Annual limits including Flexible Spending Account (FSA), Health Savings Account (HSA), and 401(k)

Managing Risk

Managing Risk

  • 9.5% Dashboard for affordability tests, optimizing on safe harbor rules to determine the potential risk
  • Numerous health reform dashboard panels & reports with the ability to “drill down” to employee level detail
  • 30-hour rule tools (i.e, shared responsibility,) including tracking within measurement, administrative and stability periods

Employee Notifications

Employee Notifications

  • W-2 reporting
  • Public exchange notices
  • Section 6055 employees annual notice/the individual mandate
  • Summary of Benefits & Coverage (SBC)
  • All notices available online to employees & administration
  • Fulfillment options available, including print and/or digital communications

Frequently Asked Questions

Yes. If an employer decides to provide benefits that are subject to ERISA, those benefits must be described in a written plan document. The plan document describes the terms of the plan and the plan’s operation and administration. An ERISA plan may exist without a plan document—not having a plan document just means that the plan is out of compliance with ERISA. Most companies mistakenly believe their insurance certificate fulfills their obligation but unfortunately this is not the case. Unless a company has a complete “wrap document” or “SPD” on file they are out of compliance. Talk with our compliance experts today about how we can help.
Section 6055/6056 of the IRS code dictates that all health insurance plans must publish a 1095 form to each employee on the plan. If you are an ALE under healthcare reform then it is your responsibility as a company to publish the 1095 forms to each of your employees annually that is eligible for coverage. Equinox has helped our over 600 clients maintain compliance with these regulations and simplifies the process through our internal processes and through the use of our technology platforms. Find out more about how we can help you today »
For additional reference and insight please visit the IRS website below.

IRS Info »

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