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Solutions

Health and Welfare Compliance and Actuarial Solutions

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.

Medcom Bridge

We offer a dynamic new compliance management tool, Medcom Bridge, which addresses the compliance development needs of most employee benefit practices. Medcom Bridge allows brokers and employee benefit consultants to manage their compliance needs all in one place. Medcom Bridge focuses on the following critical areas:

  • Delivering a global inventory management system
  • Simplifying the entire account management process
  • Maintaining a DOL proof centralized repository
  • Training library

For more information contact our team here: bridge@medcombenefits.com

Comprehensive Compliance Review & Documentation Audit

Medcom Benefit Solutions provides a comprehensive compliance audit to enable employers to evaluate their health and welfare programs.

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Comprehensive Employee Handbook Review

The Comprehensive Employee Handbook Review is performed by an attorney experienced in the areas of federal employment law, human resources, and employee benefits.

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The Document Checkup

The Document Checkup is designed as a cost-effective solution for identifying potential coverage gaps.

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Compliance Checklist Conference Call

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.

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Wellness Plan Compliance Audit

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.

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Wellness Plan Document Preparation

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.

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Wrap Plan Document Preparation

The wrap plan document simply “wraps around” and incorporates the contracts or booklets provided by insurance companies for the benefits they insure.

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Plan Document Preparation and Amendments

Medcom Benefit Solutions provides amendments to documents as needed, including the Summary of Material Modifications for distribution to participants.

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Required Notices Packet

Our Benefits Notices Package provides the employer with required benefits notices customized for their company.

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Nondiscrimination Testing

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.

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Form 5500 Filing Services for Health & Welfare Benefit Plans

Form 5500 provides statistical information about the plan and plan sponsors, reports financial information about the plan, and demonstrates compliance.

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COBRA Rate Certification

Medcom Benefit Solutions works with employers to actuarially determine the appropriate COBRA premiums based upon their plan design, demographics, and prior claims history.

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IBNR Reserve Computation

Incurred But Not Yet Reported

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Self-Funded Feasibility Study

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.

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HIPAA Privacy Policy

Medcom Benefit Solutions’ HIPAA Privacy Package is designed to guide the employer into full compliance with HIPAA-HITECH privacy rules.

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Self-Funded Renewal Review Report

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.

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Fully Insured Renewal Cost Analysis

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.

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HRA Cost Projection & Design Assistance

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.

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