Wrap Documents Updated to Include New Disability Claims Procedures

Under a Department of Labor regulation that takes effect on April 1, 2018, ERISA covered plans that provide disability benefits must comply with additional procedural requirements for disability benefit claims.  Accordingly, Wrap360 has updated its Wrap templates to

Wrap360 Now Offers Standalone Health FSA and HRA Plan Documents

Wrap360 now offers clients the ability to generate standalone SPDs and Plan Documents specifically for Health Flexible Spending Accounts (Health FSAs) and Health Reimbursement Accounts (HRAs). To create Health FSA or HRA SPDs and Plan Documents, simply answer the new

Why Doesn't Wrap360 Offer Standalone HSA Plan Documents?

A Health Savings Account (HSA) is a healthcare savings vehicle open to workers covered by a high-deductible health plan (HDHP). Both employers and employees can contribute on a pre-tax basis to HSAs, and withdrawals can be made tax- and penalty-free at any time for certain medical expenses.

Will the Wrap documents be revised to include the new disability claims procedures?

The U.S. Department of Labor (DOL) issued a regulation in late 2016 to require group health plans providing disability benefits to comply with additional procedural requirements for disability benefit claims. The regulation, which was to apply to disability claims filed on or after January 1, 2018, would have brought disability claims procedures more in line with the procedures that currently apply to claims for group health benefits under the Affordable Care Act.