Benefits Plan Preventative Maintenance: SPD Delivery and the Benefits of a Wrap Plan

Employers and employees have a lot to think about and keep track of when it comes to health benefits. One of the most obvious, but often troublesome issues, is telling employees just what those benefits are. Employers who provide health benefits are required by law to tell employees what the available benefits are and to do so in plain terms that are easy to understand. Enter the Summary Plan Description (SPD), which must be delivered to employees every new plan year. And under ERISA, an employer that provides health and welfare benefits to its employees should consider having a wrap plan to supplement already-existing documentation.