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Swift Kennedy Helps Employers Stay Compliant

Swift Kennedy Helps Employers Stay Compliant
Swift Kennedy Helps Employers Stay Compliant
Swift Kennedy Helps Employers Stay Compliant
How to Avoid Regulatory Hurdles

As if high inflation and Covid issues were not enough to deal with, local business owners must now also grapple with a slew of new federal government regulations.

“Whether we’re talking about OSHA, DOL, or other regulations, employers are struggling to stay compliant in order to avoid time-consuming audits and high penalties,” said Jerry Calistri, President and CEO of the insurance brokerage firm Swift Kennedy & Associates.

Compliance Guidance

That is why Swift Kennedy offers business owners access to virtual tools to help answer the pressing compliance questions they often have when faced with new regulations. 

These tools inform employers when laws change and advise them about compliance with the revised rules.  These resources also enable them to stay ahead of legislative deadlines and access timely information about the latest industry trends.

Benefit Notices

Swift Kennedy not only provides business owners with compliance guidance, but also generates many government-mandated benefit notices to help them avoid violating ERISA, ACA, HIPAA, and other laws. These documents include Wrap Summary Plan Descriptions (SPDs) and Wrap Plan Documents, which wrap aroundthe companies’ certificates of insurance and benefit plan booklets.

The agency also provides clients with detailed information about the distribution requirements of these notices.  These requirements are important, because when employers who are plan administrators fail to maintain and distribute certain documents like SPDs to plan participants within a set timeframe, their companies may be faced with audits and/or stiff penalties.

ACA Monitoring and Reporting

Many large businesses also need help complying with the Affordable Care Act’s tax regulations, such as its employer shared responsibility provisions.  Swift Kennedy offers these clients strategic planning, as well as the digital tools needed for plan implementation, monitoring of hourly activity, and generation of monthly reports in order to prepare for annual IRS reporting and audits.

COBRA Administration

For businesses with employees who choose to continue their company health insurance coverage after leaving employment, Swift Kennedy offers COBRA administration, which includes providing HIPAA certificates and required letters, as well as employer reporting.  Companies using this service rather than in-house COBRA administration usually see substantial savings.

So, what is the best way for business owners to ensure that their companies comply with the tangled web of federal government regulations?

“I advise employers to meet with an experienced insurance broker, who can help them analyze their benefit plans for compliance and set up a roadmap to prevent any violations in the future,” said Calistri, who is a Certified Healthcare Reform Specialist.

Swift Kennedy & Associates, an insurance brokerage firm specializing in group employee benefits and senior insurance plans, helps businesses find affordable medical, dental, vision, life, and disability plans, as well as alternative funding options.  The agency has branches in Virginia Beach, as well as DuBois, State College, Williamsport, Scranton, and Johnstown, Pennsylvania.     

Jerry Calistri, President and CEO of Swift Kennedy & Associates, has worked in the employee benefits industry since 1991.  Calistri is a Senatorial Member of Health Agents for America, a member of the International Foundation of Employee Benefit Plans, and past president of the Mid Penn chapter of the National Association of Health Underwriters.  He has conducted educational seminars about healthcare reform for employers, local chambers, and small business development councils. He can be reached at jerry@swiftkennedy.com.

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