Benefits Consulting Firm Hosts Educational Event For Local Businesses On Cafeteria Plans

WILMINGTON, N.C., May 5, 2015 – Hill, Chesson & Woody (HCW), a local benefits and consulting firm, will host a free educational seminar on Wednesday, May 13, at Cape Fear Country Club, located at 1518 Country Club Rd. This program, a part of HCW’s Employee Benefits Ready series, will focus on what to do when an employee comes to you mid-plan year with a request to change their benefit elections.

One of HCW’s Compliance Advisors, Katharine Marshall, JD, will compare and contrast the election change events permitted by employers under cafeteria plans with the special enrollment periods allowed by the Health Insurance Marketplaces. Finally, we will discuss the importance of written cafeteria plan documents and tips for maintaining compliance.

This free seminar is accredited by the HR Certification Institute for 1.00 general credit hour toward PHR, SPHR and GPHR recertification. HCW is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. Registration and breakfast will begin at 11:00 a.m., with the presentation beginning at 11:30 a.m. For more information or to register, visit http://info.hcw-events.com/EBReadyWilm1.

“Many employers don’t know which, and under what conditions, elections can be changed mid-year,” said Todd Yates, HCW managing partner. “Don’t fall into the trap of allowing changes to all benefit elections every time a qualifying event occurs. This presentation will provide an overview of the IRS rules that govern changing pre-tax benefit elections outside of open enrollment, including permitted election change events and new election change events permitted by healthcare reform.”