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Quarterly Employer Compliance Checklist: 4th Quarter (2016)

With all of the healthcare regulations employers must follow, it can be easy to forget some year-end reporting and disclosures that apply to group health plans.

To help you tackle the various requirements, we have compiled a compliance checklist to guide you through the fourth quarter. For questions or concerns, contact a OneDigital advisor.

October 2016

Action Needed Applies To Due Date
Medicare Part D Notification- notice to employees participating in the group health plan All health plans

Notification designates whether the group health plan’s coverage is creditable

Must be provided to all Medicare-eligible plan participants – recommendation is to provide to all participants

October 14, 2016
Form 5500 filing – EFAST electronic filing of all information to the Department of Labor (DOL) Plan years beginning 4/1/16

Most plans with 100 or more participants as of the beginning of the plan year

October 31, 2016
Summary Annual Report  Applies to those filing 5500 forms for February 2016 plan years October 31, 2016
Employee notifications Plans conducting open enrollments must provide an updated Summary of Benefits and Coverage (SBC) along with all notices required at open enrollment or for new hires* October 2016
Summary Plan Description - Distribution to employees for plan changes requiring an update to the plan document and description Plan years beginning July 2016 or any plans with mid-year modifications to be effective February of 2017 October 2016

 

November 2016

Action Needed Applies To Due Date
Form 5500 filing – EFAST electronic filing of all information to the Department of Labor (DOL) Plan years beginning 5/1/16

Most plans with 100 or more participants as of the beginning of the plan year

November 30, 2016
Summary Annual Report  Applies to those filing 5500 forms for March 2016 plan years November 30, 2016
Transitional Reinsurance Fee – Applies to self-insured plans that do not administer or adjudicate their own claims Transmit number of covered lives for 2016 at www.pay.gov

Fee is $27.00 per covered life

2nd installment payment due for 2015 reinsurance fees

November 15, 2016
Employee notifications Plans conducting open enrollments must provide an updated Summary of Benefits and Coverage (SBC) along with all notices required at open enrollment or for new hires* November 2016
Summary Plan Description - Distribution to employees for plan changes requiring an update to the plan document and description Plan years beginning August 2016 or any plans with mid-year modifications to be effective March 2017 November 2016

 

December 2016

Action Needed Applies To Due Date
Form 5500 filing – EFAST electronic filing of all information to the Department of Labor (DOL) Plan years beginning 6/1/16

Plans with 100 or more participants as of the beginning of the plan year

January 1, 2017 (Typically 12/31/16, but moved to 1/1/17 since 12/31/16 falls on a Saturday)
Summary Annual Report  Applies to those filing 5500 forms for April 2016 plan years December 31, 2016
Employee notifications Plans conducting open enrollments must provide an updated Summary of Benefits and Coverage (SBC) along with all notices required at open enrollment or for new hires* December 2016
Summary Plan Description - Distribution to employees for plan changes requiring an update to the plan document and description Plan years beginning September 2016 or any plans with mid-year modifications to be effective March 2017 December 2016

 

employer quarterly checklist q4Click here for a printable version of the Q4 quarterly checklist.

 

employer checklistClick here for a printable version of the employer new hire checklist.

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