Provider of benefits, insurance and wealth management services, National Financial Partners (NFP) has introduced an online, interactive tool, Benefits Compliance Portal to provide customizable benefits compliance reports for employer-sponsored group health plans.
The portal has been designed to comply with federal requirements applicable to employer’s health and welfare plans which include new Patient Protection and Affordable Care Act obligations and existing obligations under ERISA, COBRA, HIPAA, FMLA, Internal Revenue Code Section 125 and other federal mandates.
NFP Corporate Client Group president Ed O’Malley said, "The NFP Benefits Portal enables them to tailor current information to meet their specific needs. It is a much-needed resource in today’s complex regulatory landscape."
Based on size and type of employee benefit plans, the portal can generate a list of compliance requirements for employers in addition to generating action plan for completing outstanding tasks.
The portal also provides latest regulations information for advisors and clients along with detailed description of each requirement, links to relevant government websites, copies of model notices, frequently asked questions and applicable noncompliance penalties.