Compliance
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Compliance is tricky business. Are you still manually updating, managing, and distributing your summary plan descriptions (SPD)? Probably not a good idea. Are you spending what feels like a ton of money to have a big consulting firm do it? Maybe not the best option. Can you recite this week's new ACA regulation or definition? Are you prepared to distribute current SPDs AND the new Summary of Benefits & Coverage (SBC) documents 60 days in advance of all plan design changes? Probably not.
No worries. We can help. We automate the entire SPD and SBC process for the largest employers in the US. We keep them in compliance and we don't charge a ton of money. In fact, the ongoing cost normally drops by over 50 percent. How do we do it? It's simple. We start with your SPDs. We standardize all the similar language. We load them as templates into our technology. When an update is required, we apply it once and it updates all applicable SPDs and SBCs.
But, it isn't just about updating SPDs or SBCs. It's about making sure employees understand their current benefits so they can make good decisions, easily. We take care of that too. As soon as your SPDs or SBCs are updated, they are pushed to a personalized portal where each participant can conduct a keyword search or they have it on the go with our smart phone app. They find their answer. They make their own good decisions. It's not over, though. We know you are required to track all SPD distributions, notifications, and actions taken by employees. We take care of that too, in a centralized tracking report and a portal access report. Problem solved.
The reason so many leading organizations turn to HighRoads is to be more efficient and reduce cost and errors. By eliminating the wasted effort of manually updating documents, clients are able to make a change once in the system and it updates all relevant documents.
Click on the video here to see for yourself how it works
You will always be in compliance. You won't have to recite every regulation. Your price will dramatically drop. Your employees will understand their current benefits and make good decisions.
To keep updated on regulatory updates, visit our blog, HR Compliance Connection.