Tony Novak 800-609-0683
a passionate advocate for small business success
How do employee benefit plan documents help me?
by Tony Novak, CPA, MBA, MT
7/8/2014
Employee benefit plan documents are primarily intended to improve communication of details about employee benefits for the benefit of the employer, the employee and third parties with an interest (like beneficiaries and medical service providers). If you believe that improved communication is valuable, then it makes sense to use the best employee benefit plan documents that are readily available.
While we can offer no assurance that our model documents are suitable for your business, we believe that the drafters incorporates the industry's best concepts and practices applicable to small businesses.
Other likely questions that are covered in separate articles:
Are small businesses required to have written employee benefit plan documents?
What are the risks if I do not have employee benefit plan documents?
Is the insurance policy good enough?
How can I get sample employee benefit plan documents for my small business?
Related topics:
Reporting and Disclosure Guide for Employee Benefit Plans
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Opinions expressed are the solely those of the author and do not represent the position of any other person, company or entity mentioned in the article. Information is from sources believed to be reliable but cannot be guaranteed. Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues or a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. Tony Novak operates as an independent adviser under the trademarks "Freedom Benefits", "OnlineAdviser" and "OnlineNavigator" but is not a representative, agent, broker, producer or navigator for any securities broker dealer firm, federal or state health insurance marketplace or qualified health plan carrier. He has no financial position in any stocks mentioned. Novak does work as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to other companies including the companies listed in the articles on this web site.
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