The cost of compliance can be expensive. As a Bond Financial Network client you will have the peace of mind knowing you are provided the following compliance documents/notices at no charge:

  • COBRA Administration
  • Initial COBRA Notice
  • SBC (Summary of Benefits and Coverage)
  • Notice of HIPAA Special Enrollment Rights
  • Preexisting Condition Exclusions
  • Women's Health and Cancer Rights Act
  • Notice of Opportunity to Enroll in connection with Extension of Dependent Coverage to Age 26
  • Notice of Enrollment Opportunity due to Elimination of Lifetime Limit
  • Creditable/Non-Creditable Coverage Letter
  • Wellness Program Disclosure
  • Grandfather Plan Notice
  • Primary Care Provider

The need for companies to be in compliance has drastically risen as the federal and state focus of healthcare continues to increase.

Employee Benefits Compliance, Bond Financial Network's sister company, is dedicated to assisting employers with navigating the complex rules and regulations of employee benefits. Without a thorough understanding of these rules and regulations, you're likely out of compliance, and unlikely to have budgeted for the consequences. EBCompliance is here to help! Our wealth of expertise and experience regarding benefits compliance will help your business avoid costly compliance penalties, without frustration or interruption to workflow.

EBCompliance offers a variety of compliance services.

  • S125 Premium Only Plan (POP)
  • Welfare Benefit Plan
  • Summary of Material Reduction (SMR)
  • S125 Amendments
  • S125 Premium Only Plan (POP) Annual Non-discrimination Testing
  • Welfare Benefit Plan Summary Plan Description
  • Summary of Material Modification (SMM)
  • 5500 Filing

Bond Total Access

We know the Affordable Care Act can be a burden. We also know the ACA Reporting solutions that companies are selling may be leaving you feeling overcharged and underserved. So we packaged a sophisticated technology with our hands-on support to make your ACA Reporting effortless. We call it BOND TOTAL ACCESS.

Employee Eligibility Tracking

  • Set-up stability and administrative periods
  • Easily track hours during measurement periods
  • Quickly identify eligible employees
  • Simple import of hours

The Best Data Collection Tool For 1094/1095 Reporting

  • Track and categorize your employees
  • Import health plan enrollment data
  • Calculate affordability and your monthly FTE
  • Generate and send 1094-C and 1095-C reports
  • Automated code determination

For more information on our Employee Navigator ACA tracking tools, visit our HRIS Section.

Check out the 2018 Compliance Calendar for dates and details on this year's upcoming compliance deadlines.

Bond Benefits Exchange

Bond Financial Network is pleased to announce the Bond Benefits Exchange. With new ACA regulations, state-run and private exchanges have become commonplace in the insurance market. Other exchanges limit choices, Bond offers a full portfolio. The Bond Benefits Exchange will allow you to customize your coverage offerings with minimal participation requirements. Talk to your Bond representative today to see if this solution is right for you!

The Patient Protection & Affordable Care Act (PPACA), commonly known as Healthcare Reform (HCR), has created a complex health insurance environment where employers need to evaluate both existing options as well as new options provided by Health Insurance Marketplace. Bond Financial Network is prepared to assist you in navigating through these uncharted waters with our comprehensive financial review analysis.

Buy-Out Payments and Flex Credits

The new guidance on buy-out payments and flex credits negatively impacts ACA affordability requirements. The IRS has determined that unconditional buy-out payments (cash payments in lieu of medical benefits) and flex credits that can be used for things other than medical expenses, will count as part of the employees contribution to healthcare, negatively impacting affordability. This exposes numerous employers to affordability penalties ($3240/ee), should they elect to go to the exchange and receive a subsidy.

Employers who have utilized the Private Exchange Concept are particularly at risk. Bond has modified its rules under its private exchange - The Bond Benefits Exchange - to avoid the negative impact of this guidance.

The use of conditional opt-out payments will allow employers to avoid these more restrictive rules. Opt-out payments can only be conditioned on other employer coverage. They cannot be conditioned on having individual or exchange coverage.

Employers receive credit for flexible benefit allowances (flex credits) only if:

  • They can be used to purchase medical benefits
  • They cannot be used to purchase any taxable benefits or taken in cash
  • The per-tax medical benefits they can be used to purchase are restricted to Code 231(d) medical expenses.
  • Otherwise the employer reports the employee’s share of the premium for single coverage without taking into account the flex credit.