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:
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.
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
The Best Data Collection Tool For 1094/1095 Reporting
For more information on our Employee Navigator ACA tracking tools, visit our HRIS Section.
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: