Save and Continue Later

If you ever need to come back later, first save your progress. Just skip to the end by clicking the last dot on the progress meter, select "Save progress only," and submit. You'll get an email with a unique link to edit this session's information.

Who are the vendors for benefits provided under this ERISA plan?

On the next screen you'll enter all the various benefits provided (both ERISA and non-ERISA) and the vendors insuring or administering those benefits.

A few pro tips:

1. In ERISA parlance, "Administration" refers to whether a benefit is insured or not—that is, whether the benefits are provided through an insurance policy. If there's not an insurance policy directly providing the benefit, it's self-insured. For example, healthcare FSAs are not insured products, even if it's being administered by the same carrier that provides medical. So a healthcare FSA is considered self-insured. (Same goes for HSAs and HRAs, by the way.)
2. "Funding" is also a special ERISA term. Insured benefits and self-insured benefits paid out of the general assets of the company are unfunded. There are exceptions, but generally speaking a benefit is considered funded only if there's a trust.

ERISAfire takes care of several eligibility differences for you!

Some common eligibility differences, described below, are built into the language of ERISAfire's plan document. No customization needed! (We're pretty awesome like that.) If these are the only differences in eligibility for benefits offered under this ERISA plan, you won't need any more special eligibility provisions.

These eligibility differences are already addressed in the plan document:

• Insured Life/Disability Classes - It's common for life insurance policies and disability insurance policies to provide for different amounts or benefit levels for different classes (e.g., Class 001, Class 002, etc.). If the only differences in benefits or eligibility for life and disability benefits are classed out in the insurance policy, you won't need a special eligibility provision for life or disability.
• HMO/ACO Service Areas - Employers and employees often assume that if they move out of the service area of an HMO or ACO that they can make a mid-year election change to switch to another medical benefit option, but under Code Section 125 that's only true if the ERISA plan document makes residence in the service area an element of eligibility, and often times the medical insurance policy or SPD language falls short of making it a matter of eligibility. We took care of that problem for you.

Let us do the heavy-lifting!

This tool works well for a lot of situations, but it's not for everyone. Some customizations, like the one you just indicated, can really benefit from the keen eye of our ERISA attorneys and compliance specialists. 

Starting at $765, our comprehensive plan document service can provide tremendous peace of mind with:

• ERISA attorney and compliance specialist-drafted plan documents
• Issue-spotting compliance review
• $1 million compliance guaranty
• ERISAfire Projects platform with customized compliance dashboard and quarterly email digest
  

Just submit your responses thus far, and we will be in touch shortly.