The ERISA Wrap is key to anyone who owns or operates a business. No matter the size of the business, whether one employee or one hundred employees, employers who offer or sponsor health and welfare benefits must provide an ERISA Wrap. The BASE® ERISA Wrap fulfills the ERISA requirement for a SPD and Plan Documents outlined by the DOL and requires little work from the employer. If they fail to provide this, they could be subject to a $100 per-day, per-employee fine.
BASE® offers full compliance assistance and makes it affordable to fill in compliance gaps. Not only does the ERISA Wrap protect employers from the risk of penalties, but BASE® clients benefit from the simple set up and continued customer support. Lisa P., a BASE® ERISA Wrap client, shares her experience. “My experience in setting up a BASE® ERISA Wrap has been incredible. BASE® is courteous and thorough, and their follow up is unlike any other company.”
BASE® believes time is valuable and wants this process to be quick and easy. After talking to a BASE® Sales Representative the following process usually takes place:
Step 1: Employer provides plan information to BASE® for all ERISA employee benefit plans.
Step 2: BASE® produces all required documentation as established by ERISA in the form of a Summary Plan Description and Plan Document.
Step 3: BASE® provides all documentation to employer for distribution to all eligible employees.
Step 4: BASE® continually monitors legislative and regulatory changes to ensure plans remain in compliance and client information is up-to-date.
Simplify ERISA compliance with an easy and affordable solution provided by BASE®. Call 1-888-386-9680 to learn more about the BASE® ERISA Wrap.
Summer is quickly coming to an end and fall is fast approaching. This is a good time to take a look at where you can start saving valuable tax dollars! Did you know small business owners can save an average of $4,700 dollars a year with a Section 105 BASE® Health Reimbursement Arrangement (HRA)?
Healthcare costs can be expensive, and many small business owners struggle with the rising costs. The BASE® HRA assists with healthcare expenses and participants have the opportunity to deduct up-to 100% of healthcare costs, including individual insurance premiums and qualifying out-of-pocket medical expenses. This includes prescriptions, vision, dental and much more! This plan lets employers keep their hard earned money in their pocket!
Jerry K., a client since 2005, shares his success with the BASE® HRA. “The BASE® HRA has saved me thousands of dollars over the 16 years I have been involved with the plan, and is an easy method of saving tax dollars. I have always felt the staff was excellent and is always there to answer any questions with effective answers. The plan is straight forward, easy-to-use, and tracking medical expenses is worth the minimal extra effort when the result is a sizable savings,” he says.
The BASE® staff is here to support our clients and answer any questions that may come up! Our goal is to make this plan as easy and as low maintenance as possible, so small business owners can focus on their business and family.
BASE® gets the opportunity to work with thousands of small business owners across the United States, helping them save thousands of dollars each year. Gary M. shared his story of how BASE® helped him save tax dollars with this plan. “The BASE® HRA has saved me money since enrolling in the plan in 2011. Last year I saved around $3,600, which makes tracking expenses worth the time and effort. The BASE® HRA is the only and best way to save tax dollars.”
If you are a small business owner, contact BASE® today to see if you qualify for a BASE® HRA and fall into savings!
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