Regulatory Compliance Assistance

As evidenced by federal and state health care reform initiatives, staying up-to-date with the numerous statutes and regulations affecting employee benefit plans is challenging. According to Fred Hunt, President of the Society of Professional Benefits Administrators (SPBA), government compliance “is the single biggest risk factor that plans face.”

At Significa Benefit Services, compliance is given the respect it deserves. We maintain an SPBA membership and receive frequent SPBA communications about employee benefit laws and their interpretations. In addition, we attend SPBA meetings to discuss compliance with government decision makers.

Every aspect of your plan will be administered with a focus on compliance. At implementation, your plan design will be subject to a compliance review before the plan document is finalized. We routinely track the 1,500 or so new laws, regulations, official opinions, directives and major court decisions that take place in any given year. Subsequent to implementation, we will provide ongoing e-mail communications focusing on breaking news about regulatory issues. These e-mails are a time-saving resource for keeping you informed about your plan's compliance obligations.