What to do prior to an EBSA audit
If your company has received a letter requesting an audit by the Employee Benefits Security Administration, do not fear. There are simple steps that will assist in resolving any issues, and Sonus Benefits is here to help.
- Send documentation and proof of coverage to the Department of Labor when it is requested.
- Contact the EBSA investigator to obtain more information.
- Find out the scope of the audit.
- Talk with your legal counsel.
- Appoint an on-site representative of the company.
The investigator will interview individuals in the company to confirm their coverage and request copies of all documentation. Depending on the outcome, the investigator may then make recommendations to increase compliance. Negotiations may be needed until settlement is reached.
Best practices to prepare
- Have copies of all documents ready and up-to-date.
- Be courteous to the investigator at all times.
- Prepare any people who might be interviewed.
- Ensure that all members of your legal and management teams communicate.
- Contact all service providers to ensure they will assist in making any necessary changes.
- Obtain information about the investigation as quickly as possible.
How Sonus can help
Sonus Benefits provides the tools needed to ensure that when an audit notification is received, all bases are covered. Our compliance team stays current with all legislative changes to properly assist companies in their reporting and planning of benefits. If you receive an audit notification, rapid communication with your Sonus account representative is crucial.
Working closely with your company, Sonus puts together a custom package for all of your coverage needs — present and future. If an audit were to take place, our expert team would be there every step of the way. Our priority is keeping up with changing demand and benefit expectations to consistently provide your company with exactly what you need, when you need it.
Sonus has trusted experts, approachable representatives, and answers to any questions about evolving benefits requirements. Whether it is the Affordable Care Act, retirement plans or disability coverage, our team will create and implement a company-wide strategy to protect against compliance issues.
As our client, you are the top priority when we build your custom package. Sonus Benefits’ custom plans include web resources, medical, vision and dental coverage, flexible spending accounts, life insurance options, and many other services that will boost the incentives you offer as well as ensure you have the correct minimum coverage in place. With Sonus on your side, your company can focus on growth and leave the benefits to the experts.