ORANGE, Calif.--(BUSINESS WIRE)--Word & Brown General Agency announced today it has partnered with PrimePay to offer ERISA services to brokers and their clients in California and Nevada. PrimePay, a West Chester, PA-based provider of payroll, HR, and benefits compliance services, delivers a broad range of ERISA compliance solutions to help brokers and their clients satisfy federal ERISA regulations concerning health and welfare benefits plans.
Under ERISA rules, employers are responsible for submitting detailed and time-sensitive documents to the government and to plan participants. Failing to comply can result in significant penalties to businesses as well as potential employer lawsuits. PrimePay’s ERISA Wrap Plan service helps employers stay compliant by bundling all health and welfare plans into a single plan, while incorporating all of the insurance company booklets and certificates.
“Surveys have found employers view compliance as one of their top challenges,” said Jessica Word, president of the Word & Brown General Agency. “Our partnership with PrimePay gives brokers a new resource to address employers’ needs. It’s a win for everyone – employers, employees, and brokers – because PrimePay’s array of ERISA offerings can help an employer reduce administrative costs and ensure compliance with federal regulation.”
PrimePay ERISA services include a plan document, employer compliance guide, summary plan description (SPD), summary of material modification (SMM), summary annual report (SAR), notices and disclosures, Form 5500 filing, and nondiscrimination testing.
With the PrimePay solution, an employer can satisfy ERISA requirements, simplify the amendment process, reduce Form 5500 filing fees, ensure consistency, and eliminate documentation risks.
A PrimePay Wrap Plan allows an employer to include in its plan document provisions required by ERISA that are frequently missing from an insurance company’s booklets and certificates.
“Our ERISA Wrap Plan enables benefits broker partners to provide a comprehensive, 100% ERISA guaranteed solution, perfectly aligning the client’s compliance obligation with their benefit strategy,” explained Steve Jackson, Senior Vice President of Strategic Development and Channel Sales at PrimePay, “We are thrilled about this partnership with one of the leading general agencies in California and Nevada, the Word & Brown General Agency.”
To learn more about PrimePay’s ERISA services offered through Word & Brown, employers should contact their broker. Insurance brokers should contact their Word & Brown representative.
About Word & Brown
A leader in distributing health benefit plan models and solutions to individuals and businesses, Word & Brown General Agency works with premier insurers to deliver a comprehensive product portfolio – providing brokers with innovative sales tools, industry-leading quoting, personalized sales support, a commitment to helping them increase sales, and a pledge to “Service of Unequalled Excellence.” For more information, visit www.wordandbrown.com.
PrimePay believes in the power of small business. Since 1986, PrimePay has been helping small businesses get time back in their day to focus on what matters most. This is possible through their payroll, HR, Time Clock, and benefits admin services that help to ensure compliance and provide exceptional support during the employee lifecycle.