This blog piece is the second installment to cover changes and updated approaches for Wrangle. Read the first installment here.
Here is a quick, 3-minute (or less) read of the top six updates Wrangle has put in place for our Form 5500 process effective immediately.
1. If you have a final report that includes a self-funded benefit, we will need to know if there are any run-out claims past the last day of the ERISA Plan Year being reported. If the answer is yes, a final report cannot be filed. A regular report would be necessary with a short plan year final report following it.
2. Starting on August 20th, if we send out an email with an EIN number, the email will be converted to an encrypted secure email for you. You will need to create a username and password to open it. When possible, we will abbreviate the EIN to list just the last four numbers to limit the number of secure emails that you will receive from us.
3. If there is an indemnity benefit noted on the carrier Schedule A that meets the criteria for an excepted benefit and is part of the group welfare benefit plan, Wrangle will:
a. Specifically check “indemnity” on the Form 5500 Schedule A (when the carrier does the same on their schedule)
b. Call out these benefits in the SAR using the benefit description provided in our intake worksheet or on the carrier schedule A. Note that these should also be the name given in the Plan Document/SPD
4. The SAR has two additional paragraphs added at the very end to meet the requirements of the Paperwork Reduction Act. These paragraphs don’t impact the participants or Plan Sponsors.
5. DocuSign recently added a link expiration as a security feature in their product. Links automatically expire after 48 hours without a click, or after 5 consecutive clicks, whichever comes first.
a. As a quick remedy, DocuSign automatically sends a new notification with a fresh link to the email address defined by the envelope’s sender
6. Ascenus acquired Wrangle on April 1, 2019. This gives you more products and services at your fingertips. For instance, with the Open Enrollment season soon to come, you may want to inquire on Ascensus’ National Enrollment services, which includes:
a. Meetings and benefit-fair staffing
b. Translation of employee benefit and human resource materials
c. Call center support
d. Benefits webinars
After you read the list, if you have any questions or concerns, feel free to reach out to Ann Mcadam, Technical Consultant here at Wrangle: firstname.lastname@example.org.