One of the most underutilized and most needed words in the group space is Compliance. But many agents might be asking themselves, why is that so important?
Did you know the Department of Labor has hired over 1,800 additional auditors to carry out both random and directed audits? A California Broker from Los Angeles had never had one client audited up until January of 2018, and since then he has seen five of them.
The heat has been turned up. Having your groups incorporate a compliance program can help them avoid costly penalties, fines and more. It can also improve the overall bottom line of their business.
Some of your clients might ask you why you’ve never mentioned this word in the past. Are you steering your clients in the right direction to get their compliance house in order, and if not, shouldn’t you be? If you’re not having this important conversation with your clients, be prepared for the competition to do it for you.
We realize that it’s fourth quarter and that you’re probably knee deep in renewals but this is a great time to help your client get prepared. Don’t wait another quarter thinking all will be well. We suggest you start using the HR Services, Inc. system now to help your clients get the peace of mind that comes with using this service.
HR Service Inc. brings you Compliance Basics, which provides the tools and documents to pass the Department of Labor audits and avoid costly fines and lawsuits.
They provide web-based solutions access to employers and partners so they can easily create, store and edit Summary Plan Description (SPD) Wraps, Employee Notices, 125 Premium Only Plans (POP), ACA Reports and Summary of Material Modifications (SMM).
Call us today to learn more!