Wrap Documents

Wrap Documents

We make Wrap Documents easy.

Complying with ERISA requirements is easy using Wrap Documents from Compliance Services.

Simple is good.

The Employee Retirement Income Security Act of 1974 (ERISA) requires each group health and welfare benefit plan to have a written plan document in place and to distribute a summary plan description (SPD) to plan participants. While insurance companies provide certificates of coverage which explain the benefits, most do not include all ERISA requirements.

Wrap Documents simplify ERISA compliance.

Many employers find the simplest way to comply with ERISA requirements is by creating what is referred to as a Wrap Plan Document.

With a Wrap Plan Document, health and welfare benefits are “wrapped” into a single plan document and SPD. By combining the plan sponsor’s health and welfare benefits under a single plan, it simplifies administration by having required notices in one place and eliminating the need to submit multiple Form 5500s.

We indemnify your Wrap Plan Document to assure you that it will meet ERISA requirements in the event of an audit. With our Compliance Services Wrap Plan Documents, there’s one plan document for all health and benefit plans, there’s only a single Form 5500 to file and you’re indemnified in the case of an IRS-audit.

We make Wrap Plan Documents easy.

With the Wrap Plan Document, the Certificates of Coverage for your health and welfare plans are incorporated into a single plan document. Our Wrap Plan Documents are created by our Compliance Services team. We do all the heavy lifting and make sure your documents meet ERISA’s stringent requirements.

Our Wrap Plan Document service clearly sets forth definitions, benefits and “best practices” procedures. You’ll only need to create and maintain a single Summary Plan Description (SPD) and when you need to amend your plan, you’ll need only one for the wrap plan document, not one for each health and welfare benefit plan.

We also include required regulatory amendments and give you access to compliance updates, newsletters and webinars provided by our compliance specialists. We send you a form to collect the data we’ll need, you send it to us, we review it and produce your Wrap Plan Document.

At Employee Benefits Corporation, our Compliance Services team makes it easy for you to keep your plans compliant.