Health & Welfare Plans
Health and welfare plans have become a more important and complex component of an employer’s benefit programs. This is because of the ever-escalating costs of health care, impending health care reform, greater regulation by state and federal agencies, and the growing importance of welfare benefits in attracting and retaining quality employees. WLG works together with clients and their professional advisors to create programs that are cost efficient, comply with applicable statutes and regulations, and take maximum advantage of the tax laws. Although WPG does not administer welfare plans The Wolf Group consults with our clients on structuring them and on ERISA compliance.
We offer advice for:
- Medical Reimbursement Plans
- Cafeteria Plans (including Flexible Benefit and Premium Conversion Plans)
- Accident and Health Plans
- Severance Pay & Early Retirement Programs
- COBRA Compliance
- Group Term Life Insurance
- DOL Audits and Investigations
Advice You Can Trust
Because welfare plans are subject to the legal requirements of ERISA and because participants in welfare plans are given significant protective rights under that statute, in recent years there has been a proliferation of benefit claims litigation in the federal courts. WLG provides its clients with ERISA documentation and instructs its clients on policies and procedures to implement in order to avoid or lessen the impact of costly litigation. WLG also audits welfare plan contracts and disclosure material provided to participants, including plan booklets and announcements, in order to ensure compliance with ERISA, COBRA and HIPAA and to protect the sponsor’s rights to amend, modify or terminate a particular plan or benefit without exposing itself to unnecessary litigation.
