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We've updated one of our most popular materials. See what's new in our guide to MERPs.

A Guide to Section 105 Plans

Administration Software for a Section 105 Plan

Can a business self-administer a Section 105 Plan? The short answer is yes, but it is virtually impossible Section_105_medical_reimbursement_plan_softwarefor a business to stay in compliance without Administration Software.

As such, primary reason for using Administration Software is that many employers will otherwise overlook important compliance obligations that put them at risk financially. Failure to comply with the following requirements can cost an employer thousands of dollars per day in fines:

  • HIPAA Privacy

  • IRS Rules

  • ERISA Rules

  • Medicare Reporting

  • Legal Plan Documents

  • COBRA (if applicable)

  • Affordable Care Act (ACA) requirements, including the new "Market Reforms"

There are many additional benefits of using an administrator versus self-administration, such as: online reimbursement request submission and processing, plan design tools, integrated plan documents, and different allowances by class of employee.

Get the guide