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:
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.