Premium Only Plan (POP) Document Ordering

A Premium Only Plan (POP) allows employees to lower their taxable income by paying for qualified benefits with pre-tax dollars while simultaneously reducing the company's payroll tax (FICA, etc.) liability. A compliant POP plan requires a proper plan document that specifies plan guidelines, benefits, election instructions, and other relevant details. After adopting the plan document, the company must administer the POP plan.

Ameriflex can assist with ordering POP documents. We also offer the following POP Resources:

• POP Compliance Checklist: A quick check to make sure you're meeting POP requirements

• POP Quick Reference Sheet: A more in-depth POP Document requirements and the risks of Non-compliance

• POP Non-Discrimination Test Questions: A quick overview of non-discrimination testing questions to help ensure plan fairness and compliance

Form 5500 Filing

Form 5500 is an annual report that contains information about a company's benefits, including retirement, welfare benefit plans (such as health, life, and dental), as well as fully insured and self-funded plans. Employers are required to file Form 5500 with the Department of Labor (DOL) when their plan has 100 or more employee participants at the beginning of a plan year and when their plan is funded through a trust, regardless of the number of participants. Government entities and church groups are exempt from filing Form 5500.

The filing deadline is on the last day of the seventh month after the plan year has ended; however, a one-time, 2 1/2-month extension can be requested by filing Form 5558. Penalties for non-compliance can be as steep as $2,670 a day against plan administrators for late, deficient, or unfiled Form 5500s. 

Ameriflex's Form 5500 solution provides a personalized Form 5500 preparation experience, which includes direct filing with the DOL. You can also download our Form 5500 Checklist to help gather all relevant plan information in one place.

SPD WRAP

The Employee Retirement Income Security Act (ERISA) requires a Summary Plan Description (SPD) for most employers offering group benefits. The SPD outlines the details and terms of a group's health plan in easy-to-understand language. An SPD WRAP allows multiple benefits to be "wrapped" into a single plan document. This way, groups can file only one Form 5500, instead of a separate form for each benefit offered, saving time and money.

If a group doesn't have an SPD in place, penalties can amount to $110/day per participant for each failure to provide an SPD or plan document within 30 days of receiving a request from a plan participant or beneficiary. Failure to provide plan-related information to the DOL upon request could result in penalties of up to $184/day, not to exceed $1,846 per request. It may also trigger a plan audit by the DOL.

Ameriflex's SPD WRAP solution begins with a user-friendly intake form, generates plan documents in both English and Spanish (additional fees may apply), and boasts a 24-48 turnaround time to produce plan documents. 

Section 125 Non-Discrimination Testing

Non-discrimination testing is crucial for maintaining the tax-advantaged status of cafeteria plans. The tests evaluate whether the benefits provided are equitably distributed among employees based on criteria such as compensation level and ownership stake. If the plan fails these tests, it could lose its tax-exempt status, resulting in potential tax liabilities for both the employer and employees. Our Non-Discrimination Testing Handout can help you conduct your own test and identify potential testing errors.

Ameriflex can run non-discrimination testing on your plans, provide personalized recommendations and post-test consulting, identify prohibited group members, and archive your testing data for 7 years for auditing purposes.

1094/1095 ACA Reporting

The Affordable Care Act (ACA) requires applicable large employers to offer affordable health insurance that provides minimum essential coverage to their full-time employees and to file the necessary reporting forms by the required deadlines. For 2026, “substantially all” remains defined as at least 95% of full-time employees.

Ameriflex's ACA Reporting solution enables employers to track their eligibility through an interactive dashboard and offers simple e-filing with seven years of data archival.