Benefits Compliance Home

Federal law does not require an employer to provide benefits to employees. However, if an employer chooses to offer employee benefits, it must comply with many legal requirements. Benefits compliance can often be challenging as the requirements are complex and ever changing. These resources will help you understand what legal requirements apply to your company's benefit plans and what you need to do to be in compliance.

Health Reform

On Tuesday, March 23, 2010, President Obama signed HR 3590, legislation known as "Patient Protection and Affordable Care Act", into law. The new law was closely followed by passage of the reconciliation bill, HR 3590, the "Health Care and Education Reconciliation Act of 2010" which was signed by President Obama on Tuesday, March 30, 2010. The legislation makes extensive changes to employer-sponsored benefit plans. The effective dates of the provisions are staggered with some provisions effective as soon as June 2010.

View Health Reform Information

 

Compliance Checklist

NFP Benefits Partners has created an extensive Compliance Checklist regarding federal requirements for group health and retirement plans. The checklist identifies and explains over 30 specific requirements, the various due dates for those requirements, and penalties for non-compliance. Below is a sample view of the Checklist. To review the entire Checklist, please contact your advisor so that we may work with you to develop a compliance strategy.

View Sample Compliance Checklist

 

What laws apply to your employee benefit plan?

The first step to compliance is knowing which laws apply to your company's employee benefit plan. The Department of Labor has an interactive advisor available on their website entitled "elaws- Health Benefits Advisor for Employers" which will identify specific federal laws with which you should comply.

View Interactive Advisor

 

Benefit Acronyms

The benefits industry is centered around acronyms such as COBRA, USERRA, HIPAA, HRA, FSA, etc. This listing identifies over 60 commonly used benefit acronyms.

View Acronym Glossary

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This material was created by NFP, its subsidiaries, or affiliates for distribution by their Registered Representatives, Investment Advisor Representatives, and/or Agents. This material was created to provide accurate and reliable information on the subjects covered. It is not intended to provide specific legal, tax or other professional advice. The services of an appropriate professional should be sought regarding your individual situation. Neither NFP Securities, Inc. nor NFP Benefits offer legal or tax services.

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