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How do employee benefit plan documents help me?
by Tony Novak, CPA, MBA, MT
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?
Reporting and Disclosure Guide for Employee Benefit Plans
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This Web site is independently owned and operated by Tony Novak operating under the trademarks “Freedom Benefits”, “OnlineAdviser” and “OnlineNavigator”. Opinions expressed are the sole responsibility of the author and do not represent the opinion of any other person, company or entity mentioned. Tony Novak 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 and has no financial position in any stocks mentioned. Novak may act as and be compensated as an accountant, agent, adviser, writer, consultant, marketer, reviewer, endorser, producer, lead generator or referrer to the companies listed on this site or other commercial companies and non-governmental insurance exchanges. 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.
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