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Compliance Newsletter | August 2018

August 30, 2018
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Wrap Plans: More Than Meets the Eye

When companies offer welfare benefits to their employees, obligations surrounding those benefits can quickly multiply. A wrap plan is a great way to help increase consistency and efficiency. Wrap plans are a helpful tool for employers and participants because they permit the combining of several benefit plans into one. For employers this means far fewer governmental filings. It also means that many of the benefit descriptions and general terms can be centralized. It also reduces the costs of printing and mailing information from numerous plan to participants.


Employers are required to provide employees with notices explaining the ACA Marketplaces, even when the employer does not provide insurance coverage. This notice needs to be provided within 14 days of the employee’s hire date. It is also common to provide a copy of the notice with open enrollment materials to ensure employees remain familiar with the notice’s information. This notice, which was released years ago when ACA was first coming into effect has been updated and can be used until May 21, 2020, unless another update is published before then. The biggest difference is that the notice now includes information describing that employees who elect to receive benefits through the ACA Marketplaces may lose coverage from their employer…(cont’)

In This Issue:

  • Wrap Plans More Than Meets the Eye
  • Department of Labor (DOL) Publishes New ACA Marketplace Notices
  • Health and Human Services (HHS) Issues Guidance on Software Patching
  • Short Term health Plans Given New Life
  • 2019 ACA Penalties Increase Significantly

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