One of these reasons is that DOL (Department of Labor) audits often accompany requests for insurance company booklets for the purpose of scrutinizing all of the legal language required for ERISA compliancy. These booklets or certificates often do not include all of the legally required language mandated by ERISA and HIPAA, such as detailed claims Read More

The Health Reimbursement Arrangement and the Health Savings Account are two completely different documents.  Here are the key differences between them: HRA is funded and managed by only the employer. HSA is funded and managed by employer, employee, both, or the self employed. HSA must be funded before funds can be withdrawn. HRA does not Read More

A Limited Purpose FSA is a Medical FSA designed to allow Health Savings Account (HSA) participants an opportunity to set aside pre-tax funds to pay for out-of-pocket vision, dental and preventive care services.  The following items can be covered in a Limited Purpose FSA: Vision Care: Out-of-pocket expenses for LASIK surgery, eye exams, eye glasses Read More

Why do I need a Wrap Plan? Department of Labor (“DOL”) audits often accompany requests for insurance carrier’s certificates/booklets (“booklets”) for the purpose of scrutinizing all of the legal language required for ERISA compliancy.  These booklets oftentimes do not include all of the legally required language mandated by ERISA and HIPAA, such as detailed claims Read More