Regulatory & Legislative Compliance

Self-funded health plans are subject to very specific laws and regulations. NAA’s staff is experienced in all matters of ERISA, COBRA, USERRA, HIPAA, and PPACA. Additionally, we partner with excellent employee benefits attorneys who keep us and our clients abreast of the ever-changing legal climate, as well as provide expert advice on ongoing compliance.

5500 Preparation Services

NAA will prepare required legal filings, such as the IRS Form 5500. We will obtain and compile all the required data, for example, claims data, insurance premiums, paid commissions and other vendor payments, necessary to make the 5500 complete and ready for signature. If not preparing the 5500, we will collect and provide the planholder with all Schedule A and Schedule C information for filing purposes.

W-2 Cost Reporting

Beginning with W-2s issued in January, 2013, employers are required by the PPACA law to report to the IRS the cost of employer-sponsored group health plan coverage. As an optional service to our clients, NAA can perform this function for our self-funded benefits.