With the many regulations governing employer benefit programs, including ERISA, HIPAA and the Patient Protection and Affordable Care Act (PPACA), keeping up with changes and updates to legislation can be incredibly challenging. MedCost Benefit Services helps take the worry out of compliance.
What We Do For You
Our expert staff, in consultation with in-house legal counsel, assists with all aspects of compliance, not just monitoring new and changing legislation. MedCost Benefit Services helps with all of the following compliance issues so that you are not distracted from your company’s larger focus:
- Construction of Plan Documents, Summary Plan Descriptions (SPD) and Amendments
- Summary of Benefits and Coverage (SBC) and Glossary of Health Coverage Terms
- HIPAA Documentation (Certificates of Creditable Coverage, Notice of Privacy Practice, Business Associate Agreements, Sub-Contractor Business Associate Agreements and Confidentiality Agreements)
- Annual and Enrollment Notices
- Research and Guidance on Legislative Activity and Required Action
- State Specific Requirements for Health Plans
MedCost Benefit Services is a member of the Society of Professional Benefit Administrators (SPBA), the Employee Benefits Institute of America (EBIA), the American Association of Preferred Provider Organizations (AAPPO), and the Third Party Administrators of America Association (TPAAA), all well-respected and nationally recognized associations.
In addition, MedCost regularly utilizes resources from the Department of Labor, Health & Human Services, Centers for Medicare and Medicaid Services, and other regulatory bodies. We also regularly monitor and stay abreast of the ever-changing regulatory environment, including evolving regulations affecting HIPAA privacy, security, and portability obligations; IRS rules for cafeteria plans and consumer driven health care arrangements; and the multitude of rules for implementing ERISA, COBRA, Health Care Reform, and other legislation affecting employee benefit plans. MedCost maintains appropriate licensure to operate in all states where plan participants reside.