Why BASE®?

In recent years, so many businesses are finding that they need an employee benefit administrator, like BASE®, to help streamline and increase the efficiency of their health benefit and compliance plans.  With so many options available, it is critical that businesses choose the one for them.  But where to start?

Check out the 3 important things to look for while selecting a partner for expanding benefit options for the business:

A Strong Claims System.  The benefit partner a business selects should aim to create less work for the business and employees in submitting and reviewing claims. The importance of claims efficiencies simplifies benefits for everyone.  A strong claims system will transform your employee benefits experience through innovative technology, simplified benefits administration, and empathetic service.

The BASE® claim system can be accessed via the secure online account or mobile app.  Many clients have come to say that the claims process is easy to navigate, quick, and easy-to-use.

The Service Team. The employee benefit administrator a business owner decides to choose should have a service team that is dedicated to their clients.  This team should be able to listen and understand the needs of an employer, while providing a winning benefit strategy that is in compliance with the latest rules and regulations and provides full ongoing support.

Jeff T., BASE® HRA Client since 2005, knows that the service team is dedicated to their clients.  “…they make me feel like I am the only person they are working with.”  Jeff attributes their success to “…the people picking up the phones and working with clients.” 

Susan S, BASE® BP since 2003, never hesitates to put any of her clients on the phone with the service team.  “Not only does the BASE® staff say they will be there for you if you have trouble, but they also mean it.”  Susan believes that BASE® goes beyond what you see in our brochure.  “The staff has been great, no matter who I have worked with.  They really have perfected customer service, while ensuring tax savings for my clients…”

Plan Design & Service Flexibility.  Employee benefit administrators should be able to assess the needs of an employer to guide them in selecting a plan that fits their needs and is designed to maximize savings and provide a creative benefit solution.  The administrator an employer chooses will also provide flexibility, and with technology emerging as a key differentiator it plays a big role in providing an adaptable and robust platform to serve both the employer and employee.  Both plan design and flexibility are important in providing customized solutions for employers to achieve employee benefit goals.

Suzanne S., a BASE® Business Partner, believes in what BASE® is doing.  “I know I have a good reliable source to help my clients get the most out of their tax benefits, and they deliver current and consistent information. BASE® walks clients through the process and sets them up with the plan that best fits their situation, and I believe this will help clients save on tax dollars and benefit them greatly.” 

Suzanne knows that it is a process as much as the product.  “Not only does BASE® help small business owners, but you receive professional service and answers to all of your questions.

BASE® is committed to satisfy the benefit administration needs for clients of varying sizes, help them succeed in business, and provide a sound vehicle for creative money saving benefit strategies and compliance solutions. Whether employers are looking to enrich their current benefit plans, offset benefit cutbacks, or implement cost saving measures, the highly trained staff works diligently to ensure that each plan is customized to meet the specific needs of each client.

Contact BASE® at 888.386.9680 for more information or to hear what more business partners and clients had to say! 

Don’t let ERISA Penalties Haunt the Business

Nothing would be scarier, or haunt a business for years to come more than being found NOT compliant with ERISA.  But by having a compliant and up-to-date Plan Document and Summary Plan Description, the risk for steep penalties can be non-existent like a ghost. 

The Employee Retirement Income Security Act of 1974 (ERISA) requires that each employer/plan administrator maintain Written Plan Documents and the Summary Plan Description (SPD).  The written Plan Document is a contract between the employer and employees to establish the plan.  It’s the document that sets forth the rights of the plan’s participants and beneficiaries.  The SPD is a document that provides a summary of the key information about an employer’s benefit plan and any other additional information required by ERISA.    

The BASE® ERISA Wrap is designed to help employers/plan administrators fulfill the ERISA requirements for sponsoring health benefits.  Like the cloth on a mummy, it wraps around the existing certificates of insurance and benefit plan booklets to provide the required provisions and information to comply with ERISA. 

Steep penalties could haunt an employer/plan administrator if they do not provide an SPD or have a current Plan Document.  Failure to provide an SPD or Plan Document to a plan participant or beneficiary, after receiving the request, can result in a penalty of up to $110/day per participant for each violation.  Not only could a business be required to pay out steep penalties, but it could also trigger a deeper plan audit by the US Department of Labor (DOL). 

Get out your flashlight, I am going to tell you a haunting story:

In 2019, Kinsinger v. SmartCore LLC was a court case that involved an employer’s group health plan and the subsequent failure to pay for the premiums.  The carrier had cancelled coverage for nonpayment, leaving the employees with several unpaid medical bills.  Throughout the process, the plaintiffs requested the documents within the scope of ERISA, the Summary Plan Description (SPD), Plan Documents, and other information from the plan administrator.  The plan administrator didn’t respond for over 700 days and was sued due to the requested documents not being provided before the initial 30-day period.  In the end, the court awarded the plaintiff a total of $41,140 for receiving their information that they requested, late. 

So, what can you learn from this haunting tale?  The document requests under ERISA must be promptly addressed and acted upon in good faith, and if not, can result in some serious fines. 

Having the ERISA Wrap in place is neither scary nor expensive.  So, ERISA plan administrators BEWARE!  Failure to provide Plan Documents may result in steep penalties.  For more information on the BASE® ERISA Wrap, or to watch a short video, call 888.386.9680 or visit www.BASEonline.com.