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Plan Document Preparation and Amendments
Types of Documents Medcom Benefit Solutions will prepare and amend:
- Section 125 premium Only Plans (POP)
- Flexible Spending Account (FSA) Plan Documents
- Dependent Care Assistant (DCAP) Plan Documents
- Health Reimbursement Arrangement (HRA) Plan Documents
May include Health Savings Accounts (HSA)
The Employee Retirement Income Security Act (ERISA) specifies that all plans, regardless of the number of participants, must be established and maintained according to a written document containing specific provisions. These provisions include:
- Naming one or more plan fiduciaries who have authority to control and manage the administration of the plan
- Describing a procedure for establishing and carrying out a funding policy
- Describing the procedure for making plan amendments and identifying who can make them
- Describing the basis on which payments are made to and from the plan
Medcom Benefit Solutions provides a turnkey solution for employers by providing comprehensive, professionally prepared ERISA compliant plan documents for Section 125 Premium Only Plans, Flexible Spending Accounts, and Health Reimbursement Arrangements. Medcom Benefit Solutions also prepares plan documents for Dependent Care Assistance Plans, and Parking and Transit (Commuter) Plans.
Medcom Benefit Solutions provides amendments to these documents as needed, including the Summary of Material Modifications for distribution to participants.
