Can an insurance policy serve as an employee benefit plan document

online accountantTony Novak, Certified Public Accountant

Can the insurance policy serve as a small business employee benefit plan document?

by Tony Novak, CPA, MBA, MT

No, the insurance policy does not contain all of the information and disclosures required by the Department of Labor and the Internal Revenue Service. Additionally, written documents and disclosures are likely to be required for employees who are not covered by insurance.

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 an employee benefit plan documents?

How do employee benefit plan documents help me?

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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