Products & Services

At ERISAPros, we are committed delivering exemplary service at every level. We tailored our products to our client’s needs so that your expectations from an ERISA service are met.

We are always ahead of the competition; our team members have law degrees. A service level that is difficult to match. Compliance is more than paperwork for many clients and if you require a service that is designed only for you, we ensure you comply accurately.


What is Wrap-Tight?

Wrap-Tight is our standard Wrap Plan service that streamlines your ERISA benefits management by preparing a meticulous Wrap Plan document that aggregates all ERISA benefits into one cohesive document through our secure and online platform. You can produce your ERISA Wrap Welfare Benefit Plans by using Wrap-Tight online. This includes the preparation of a Summary Plan Description (SPD) that seamlessly aligns with the Wrap Plan. We further enhance our offerings by providing guidance on Qualified Medical Child Support Order (QMCSO) administrative procedures. o ensure easy access and distribution, digital copies (PDF) of both the Wrap Plan and SPD are provided, along with detailed Department of Labor (DOL) Safe Harbor electronic distribution instructions.

Who is it for?

In the simplest way; any employer with one or more employees should have a Wrap Plan. Here is a breakdown of why an employer should consider a Wrap Plan:

  1. Employers Offering Multiple Benefit Plans: Wrap plans allow employers that offer multiple separate benefit plans, such as medical, dental, vision, life insurance, and others, to “wrap” these benefits into a single plan for the purposes of ERISA compliance.

  2. Employers Seeking ERISA Compliance: The Employee Retirement Income Security Act (ERISA) requires certain disclosures and documents for employee benefit plans. A wrap plan consolidates these requirements into a single wrap document and Summary Plan Description (SPD), simplifying the compliance process.

  3. Small to Medium-Sized Businesses: While large corporations often have resources dedicated to compliance and benefits administration, small to medium-sized businesses might find a wrap plan especially beneficial due to its ability to streamline the administrative and compliance processes associated with offering multiple employee benefits.

  4. Companies with Limited HR Resources: Companies that may not have a large HR department can benefit from the streamlined administrative processes associated with wrap plans.

For long-term management and convenience, we offer archive storage of all your plan documents. Clients also receive a comprehensive Federal Model Notice package, ensuring compliance for the Plan Year. Our commitment to keeping you informed is reflected in our annual legislative and compliance updates. Our pricing model emphasizes transparency and affordability with a flat-fee pricing structure instead of unpredictable hourly rates. Plus, when it’s time to renew, we offer our loyal clients a renewal subscription at a generously reduced investment.

5. Businesses Seeking to Attract and Retain Talent: Offering a comprehensive benefits package is a key tactic for attracting and retaining employees. A wrap plan helps to consolidate and manage these offerings more effectively.

6. Organizations Looking to Minimize Risk: Failure to comply with ERISA can result in fines and lawsuits. By consolidating benefit plans into a wrap plan, businesses can more easily ensure they meet ERISA documentation and disclosure requirements, thereby minimizing the risk of non-compliance.

7. Benefits Consultants and Brokers: These professionals often advise businesses on benefit offerings and compliance. They might recommend a wrap plan solution to their clients as a best practice for managing multiple benefit offerings and ensuring compliance.

In essence, a wrap plan solution is for any employer, regardless of size, that offers multiple employee benefit plans and seeks a more streamlined approach to managing, administering, and ensuring compliance for those plans.

How to eliminate risk with a Wrap Plan

Wrap Plan Consultative Services

What is a Platinum Wrap Plan?

Our Comprehensive Insurance Documentation & Compliance Service is an all-encompassing solution tailored to address the multifaceted needs of the insurance landscape. At its core, the service revolves around meticulous scrutiny and management of insurance-related documents such as Master Service Agreements, insurance contracts, and certificates. Beyond this, we offer a wealth of services ranging from pinpointing document discrepancies, creating centralized document repositories, in-depth consultation, continual expert support throughout the Plan Year, to preparing specialized Wrap Plans and ensuring up-to-date legislative compliance. With the added assurance of digital and archive solutions, transparent flat-fee pricing, and annual legislative updates, we pride ourselves on offering a unique and a full spectrum of services designed to navigate the complexities of the insurance industry.

Who is it for?

This service is exclusively designed for medium to large business with 50+ employees and insurance brokers who seek an edge in delivering precision, compliance, and unparalleled service to their clients. Recognizing the unique challenges and responsibilities that insurance brokers face, our Platinum Wrap consultative service is tailored to alleviate the burdens of document management, compliance adherence, and client consultation. Whether you’re an independent broker looking to streamline your operations, or part of a larger firm aiming for optimal efficiency and compliance, our service is geared towards ensuring your peace of mind. Additionally, with tools and support aimed at aiding in Department of Labor audits, and continuous updates to match legislative shifts, brokers can remain confidently ahead of the curve, ensuring the utmost satisfaction for their clientele.

Key Features:

Everything in standard Wrap-Tight +

Comprehensive scrutiny of Master Service Agreements, insurance contracts, and certificates, pinpointing discrepancies and ensuring alignment with compliance regulations and administrative practices.

Benefit from a searchable master PDF of Wrap Plan/SPD and requisite insurance documents for efficient distribution.

In-depth telephone consultation with clients and brokers, tailored to address concerns, answer queries, and detail distribution mandates.

Continuous access to our consultant team throughout the Plan Year, coupled with creation of Plan Amendments and Summary of Material Modifications (SMM).

Navigate Wrap Plan audits seamlessly with our expert assistance, ensuring optimal preparedness and response.

Secure, web-based storage of all Wrap documents, offering long-term access, coupled with archive storage of all plan documents for heightened security.


Delinquent Filer Voluntary Compliance Program:

The DFVCP is a program offered by the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) that allows plan administrators of employee benefit plans to voluntarily file delinquent annual reports and pay reduced penalties for late filing. The DFVCP encourages pension and welfare plan administrators to file overdue annual reports (Form 5500) by allowing them to pay reduced civil penalties when voluntarily complying.

Under the Employee Retirement Income Security Act (ERISA), plan administrators must file annual reports for employee benefit plans to disclose information about the plan’s financial condition and operations. Failure to file these annual reports can result in penalties and enforcement action by the EBSA.

Who is it for?

Often, employers are unclear or unaware of the general requirements to file a Form 5500 for their Health and Welfare Benefit Plans. However, plan administrators can typically find themselves in a delinquent situation due to systemic growth, changes in management, mergers & acquisitions, and control group issues.

For Non-Trust Plans:

  • 100 or more enrolled employees in the plan on the first day of the plan year.

For Trust Plans and MEWAs:

  • The participant count is not a determining factor. A filing is required.
Some other factors that can lead to delinquency, such as:
  • Systemic growth
  • Changes in management
  • Changes in the administration of benefits offered to participants
  • Mergers & Acquisitions
  • Accidental establishment of Trusts
  • Control group issues

The DFVCP provides a way for plan administrators to comply with the reporting requirements by voluntarily filing delinquent annual reports and paying reduced penalties. The program is available to plan administrators who are delinquent in filing an annual report for a plan year more than one year past the due date.

By participating in the DFVCP, plan administrators can avoid potentially higher penalties and enforcement actions that could result from a failure to file the required annual reports. The program also provides a way for plan administrators to maintain compliance with the reporting requirements under ERISA and to continue to provide vital information to plan participants and beneficiaries.


Form 5500 and Extensions

Prepare and File with us:

Efficient Filing Process:

Experience a simple and streamlined approach meticulously designed to meet crucial deadlines. With ERISAPros, you’ll benefit from pre-filled plan worksheets that align perfectly with our Plan document or your prior 5500 filings.

Quality Assurance:

Our dedication to precision is solidified by our two-tiered internal review process, ensuring every detail is accurate. If modifications or corrections are required, count on us for a swift response and prompt turnaround.

Expertise on Call:

Our seasoned Health and welfare team is ever-ready to address your technical questions, harnessing years of industry experience to provide clear and concise answers.

Comprehensive Services:

We proudly offer the preparation of Form 5500 and Schedule A’s. For those in need of revisions, we handle Amended 5500 filings with the same level of expertise. Every client package includes a Summary Annual Report, and upon completing the DOL Filing, you’ll receive an immediate acknowledgment.

Added Benefits:

We simplify processes by e-filing on the employer’s behalf. For our dedicated clients, we take the initiative to file an Automatic Extension (Form 5558), ensuring you always meet your deadlines.

Compliance Support:

Stay ahead of potential issues with our Delinquent Filing reviews and assessments. Our full-service Delinquent Filer Voluntary Compliance Program (DFVCP) submission ensures complete compliance, giving you peace of mind.

Premium-Only-Plans (POP)

What is a Premium-Only-Plan?

A Premium-Only Plan (POP) is a type of Section 125 plan that allows employees to pay their portion of insurance premiums with pre-tax dollars. It’s one of the simplest types of cafeteria plans available under Section 125 of the Internal Revenue Code. Here’s a breakdown of its key features:

  1. Pre-Tax Benefit: By participating in a POP, the employees’ contributions to certain benefits, such as health insurance premiums, are deducted from their gross pay before any federal income or FICA taxes are calculated. This results in a lower taxable income, which means less tax paid and ultimately more take-home pay.
  2. Employer Benefits: Employers also stand to benefit from a POP. Since the employees’ taxable income is reduced, the employer’s portion of FICA and FUTA taxes is lowered as well.
  3. Flexibility: While POPs allow employees to pay insurance premiums with pre-tax dollars, they don’t provide the flexibility of a full Flexible Spending Account (FSA) which would allow for pre-tax deductions for medical expenses or dependent care.
  4. Regulation: Being a type of Section 125 plan, POPs are subject to specific rules and regulations, including non-discrimination testing, to ensure that the benefits aren’t overly skewed towards highly compensated employees.
  5. Enrollment: Employees generally make the election to participate in the POP for a full plan year. However, certain life events, such as marriage or the birth of a child, may allow an employee to make changes to their elections mid-year.

In summary, a Premium-Only Plan offers a tax-saving opportunity for both employees and employers by allowing insurance premiums to be paid with pre-tax dollars.

Who is it for?

A Premium-Only Plan (POP) is primarily for employers who wish to provide their employees with a way to pay for their portion of insurance premiums with pre-tax dollars. By participating in a POP:

  1. Employers Benefit by reducing the taxable compensation of their employees, which subsequently reduces the amount they pay in FICA (Social Security and Medicare) taxes.

  2. Employees Benefit by decreasing their taxable income, allowing them to pay a reduced amount in federal, state, and sometimes local income taxes. This results in a net increase in their take-home pay since they’re using pre-tax dollars to cover insurance premiums.

Typically, businesses of all sizes adopt POPs to save on tax liabilities and enhance the overall value of their benefits package. The savings and advantages make POPs attractive for both employers and employees.

Maximize Your POP Benefits with Our Expert Guidance and Tailored Services:

Navigate the intricacies of a Premium-Only Plan with our all-encompassing support and expert guidance. We are dedicated to delivering a range of services fine-tuned to your specific needs, maximizing the benefits of your POP.

Consultative Interview for Plan Preparation

Our journey begins with a consultative interview, where we assess your requirements and understand your goals. We ensure every aspect of your POP is tailored to your organization’s unique needs.

Seamless Alignment with Wrap Plan Documents

Benefit from our expertise in creating Wrap Plan documents. Whether you’ve partnered with ERISAPros through our consultative approach or online solution, we seamlessly align your POP to ensure consistent compliance and operational excellence.

Comprehensive POP Documentation
  • POP Plan Document: Receive a meticulously crafted plan document laying out your POP’s structure and operational guidelines.

  • POP Summary Program Description: We break down the complexities of your plan, providing a clear and concise summary. Ensure that all stakeholders, from top management to every employee, understand the benefits and mechanics of the POP.

Ancillary Premium Conversion Form

To further enhance your experience, we offer a brand-customizable ancillary premium conversion form. This customization ensures that your organization’s brand voice remains consistent across all platforms.

Flexible Plan Options for Diverse Needs

We understand that every organization has unique requirements. That’s why we provide:

  • Options to incorporate Health Savings Accounts (HSA), maximizing the health-related benefits for your employees.
  • Opt-in/Opt-out features, giving you and your employees the flexibility you need.


What is an SMM?

The Summary of Material Modifications (SMM) is an important document in the context of U.S. employee benefits. The SMM is a document that informs plan participants and beneficiaries about material changes made to an existing Summary Plan Description (SPD) or to the information required to be in the SPD. It also provides information about changes to the plan itself or changes in the information required to be in the SPD.

  1. Purpose: Its main purpose is to keep plan participants informed about certain changes or modifications without having to redistribute the entire updated SPD.

  2. ERISA Requirements: The Employee Retirement Income Security Act of 1974 (ERISA) mandates that if there are material changes to a plan or its SPD, then plan administrators must communicate these changes to the plan’s participants. The SMM serves this requirement.

Who is it for?

  1. Plan Participants and Beneficiaries: These are the primary recipients of the SMM. The SMM ensures that individuals who are enrolled in or are beneficiaries of an employee benefits plan are kept informed about any material changes to the plan or the Summary Plan Description (SPD). By being informed of such changes, participants and beneficiaries can make educated decisions about their benefits.

  2. Plan Administrators: They are responsible for ensuring that the SMM is distributed appropriately and in compliance with the Employee Retirement Income Security Act (ERISA) timelines. They also must ensure that the SMM is written in a clear and comprehensible manner for the average participant.

3. Distribution: Typically, the SMM must be provided no later than 210 days after the end of the plan year in which the change was adopted. However, for changes that result in a reduction of covered services or benefits, the SMM (or updated SPD) must generally be provided within 60 days after the adoption of the change.

4. Content: The SMM should clearly describe the material modification in the plan and its impact. It should be written in a manner calculated to be understood by the average plan participant.

In essence, the SMM ensures transparency, keeping participants informed about significant changes to their employee benefits plan. It’s an essential component of the broader ERISA framework designed to protect the interests of participants in employee benefits plans.

3. Employers: Employers that offer employee benefit plans have a vested interest in ensuring that their employees are well-informed about their benefits, including any changes or modifications. This can also help mitigate potential legal challenges or misunderstandings that can arise from changes to a plan.

4. Benefits Consultants and Advisors: These professionals often assist employers in designing and modifying benefit plans. They can use the SMM as a tool to communicate and explain changes to their clients and the affected participants.