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Insurance & Compliance
Compliance is more than just knowing a law exists. It’s A) understanding what it means, B) if it applies to you, and C) how to do everything right and avoid penalties. With PrimePay, we’ll D) handle all of the above.
Workers’ Compensation
Payroll can improve cash flow (seriously).
Workers’ compensation insurance premiums are based on your payroll dollars. Because of that, PrimePay can help you start saving today.
Our payroll and workers’ comp integration allows you to pay per payroll. This means you'll have:
- A premium based on actual payroll numbers.
- Little to no down payment.
- Reduced risk of over/underpayment.
- Simplified year-end audit.
Together, let’s forget the word overpaying.
Here’s how we can help you handle your worker’s compensation per payroll run:
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Step 1: Run payroll as you normally would.You’re doing this perfectly; don’t change a thing. -
Step 2: We send your payroll data to the insurance company.This is why there’s no need for a deposit. -
Step 3: What you owe is calculated on exact payroll numbers.So the risk of over/underpaying significantly shrinks.
Wait, how is workers’ comp calculated?
Let workers' comp work for you.
![How Workers' Comp Works For You [Infographic]](/sites/default/files/styles/70_x_70/public/2017-04/blog-list-workerscompinfographic.jpg?itok=nY4wtf7p)
ACA Compliance Navigator
Guiding you to ACA compliance.
The Affordable Care Act (ACA) continues to be a point of confusion (and sometimes contention) for many business owners. With much uncertainty regarding the law, it’s comforting to know you can count on PrimePay to help you navigate the deep ACA waters.
Forms 1094 & 1095 filing? It’s basically done.
Our Online Payroll clients have an advantage on this one. By gathering data from our payroll system, and a little more info from you, we are able to handle ACA Forms 1094/1095 reporting.
When the time comes, we’ll eFile with the IRS and provide them to you for your personnel - just like we do with Forms W-2.
Our ACA Compliance Navigator solution helps with:
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Variable hour employees and plan affordability reports.We also continually track the status of your workforce for reporting. -
Helps file and provide IRS Forms 1094/1095.Our team will file copies with the IRS and teach you what to provide to employees. -
Provides penalty exposure warnings, checklists, and more.Prepare for the worst by planning ahead.
We're tracking the latest ACA information for you.
ACA Glossary: Frequently Used Terms Defined
ACA Basics: How the Size of Your Workforce Affects Responsibilities
ERISA Compliance Services
ERISA solution to keep you compliant.
The Employee Retirement Income Security Act (ERISA) is a federal law that requires employers to abide by specific regulations concerning their health and welfare benefit plans. And the Department of Labor estimates that three out of four employers aren't complying.
With our Premier ERISA Wrap Solution, you'll benefit from our industry-leading guarantee and compliance review of plan documents.
Together, we can work toward:
- Satisfying ERISA requirements.
- Simplifying the amendment process and reducing filing risks.
- Removing unnecessary filing fees and streamlining documentation (based on your needs).
- Form 5500 filing.
- Form 5500 remediation.
Additional ERISA information to help you comply.
Top 7 Most Common Mistakes Employers Make About ERISA
ERISA Implications with State Retirement Plans
Nondiscrimination Testing
Test your way to complete compliance.
Nondiscrimination testing (NDT) ensures equality for all employees by evaluating the eligibility, contributions and benefits on a nondiscriminatory basis.
The IRS mandates that pre-tax benefit accounts must complete NDT – there are no exemptions.
In just three steps, PrimePay can help you ensure equality and compliance with NDT. Additionally, we promise:
- Secure transmission of all data, ensuring the security of private information.
- All test(s) required by the IRS are included.
- Mid-year testing is offered to help you uncover potential problems for your plan’s year-end test.
- Tangible, easy to understand reports which include corrective steps (if needed).
Complete mandatory NDT tests in just three steps.
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Step 1: Download the testing template. -
Step 2: Complete the template. -
Step 3: Submit it to PrimePay Benefit Services.
Unsure about NDT details? These resources will help.
Uncovering Potential ERISA & NDT Compliance Concerns
Compliance Corner: Nondiscrimination Testing Season Is Upon Us
COBRA
COBRA administration as easy as 1-2-3.
It’s true! We provide administration of all COBRA qualified plans. That means you can avoid costly penalties and excise taxes ($100 or more a day per violation) from COBRA audits.
What exactly is COBRA?
The Consolidated Omnibus Budget Reconciliation Act (COBRA), passed in 1985, is a law requiring employers with 20 or more employees that offer health care benefits to offer a continuing coverage option to those who lose their benefits due to termination, reduction in hours, etc.
Since its inception, COBRA has cost businesses millions of dollars in legal and compliance fees. The IRS estimates that up to 90 percent of employers are out of compliance with COBRA regulations.
Just three steps to COBRA compliance.
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Step 1: Let PrimePay know of your new participants. -
Step 2: Notify us of qualifying events. -
Step 3: Run reports once a month.
Additional COBRA Information
Steps to Make Sure Your COBRA Notice is Compliant
Top 3 COBRA Compliance Mistakes Employers Make