The beginning of the plan year is the best time to map your benefits compliance strategy.
As Dale Carnegie said, “An hour of planning can save you 10 hours of doing.”
This tip is definitely true for employee benefits compliance, and businesses are learning that it’s an unavoidable and essential aspect of maintaining a successful employee benefits strategy.
Keep in mind it’s important to evaluate each organization’s benefits plans individually to ensure each compliance element is covered. In the meantime, here are some important compliance dates to get you started for calendar year plans in 2023 for Quarter 1:
Wondering what comes next?
Nondiscrimination testing is also a compliance requirement. Get started by conducting initial mid-year testing to adjust elections if needed.
If compliance is new or unfamiliar territory:
Learn more from our Compliance Basics article, and take a look our compliance services.
Penalties for ACA noncompliance have also changed. See the updates and how they could affect you.
How Ameriflex can help:
Ameriflex can mitigate the risk by mapping out and executing compliance requirements for you.