Wrap Plan Documents
A Wrap Plan Document combines all group insurance policies and contracts of an employer that provides welfare benefits to employees into a single plan. Wrap plans are a tremendous tool to enhance legal compliance and simplify administration of an employer’s health and welfare benefit plans — medical, dental, vision, cafeteria, health reimbursement arrangements, etc.
A sample Plan Document and Summary Plan Description (SPD) are furnished with annual revisions as legally required.
Using Chard Snyder Wrap Plan Documents service has its advantages:
- Limits employers’ liability exposure and improves legal compliance
- Documents provide information required under ERISA that typically is missing under current insurance documents
- Consultation with employers on the wrap document type that best matches their health and welfare plans structure