Compliance Dashboard Proactively Guides You Through the Compliance Maze
Stop hoping that you are up to date with compliance issues. The Lank Group’s Compliance Dashboard will proactively give you the information you need, when you need it. Here is a summary of how it works.
- Upon login, your compliance obligations are displayed in a timeline. Here you can view and complete all compliance tasks for the year.
- When it’s time to complete a compliance activity, the system will send you an email notification. The compliance activity will then guide you through a series of simple steps to satisfy the legal requirement.
- After marking the task completed, the information is stored on your dashboard and accessible throughout your plan year
Questions and Answers
1. Where do I find the information I need? (Information Aggregator)
The Problem – Employers often struggle with determining what laws affect their health and welfare plans and what steps they must take to comply with them. Identifying trusted sources and correct information requires considerable time and research.
The Solution – Compliance Dashboard gives you all the information you need in one easy-to-navigate website. The information is relevant and easy to understand. Icons present an at-a-glance view of your responsibilities
2. What do I need to do and when do I need to do it? (Time Execution)
The Problem – Employers are frequently overwhelmed as they attempt to process compliance information, and then determine how and when to apply it.
The Solution – Our Compliance Dashboard breaks down an employer’s compliance responsibilities into clear and understandable topics, which are summarized on a compliance calendar. Employers receive email reminders to review both long-term and date-sensitive topics when needed.
3. Who will make sure it gets done? (Verification and Follow-Up)
The Problem – The compliance process often breaks down if employers are unsure how to handle a task. Human Resources site leaders may not understand their role in executing a compliance task to forget to distribute required notices.
The Solution – Our Compliance Dashboard monitors compliance by requiring a response from users after a task is completed and sends out automated reminders when a required task is past due. Administrators in multi-location groups can easily monitor the status of all users assigned a compliance task.
4. How do I document our compliance efforts? (Audit Trails)
The Problem – Whether for internal reviews or outside agencies and courts, employers need the ability to document their compliance actions and procedures. Unfortunately, many employers find themselves at a loss when this information is requested.
The Solution – Our Compliance Dashboard maintains ongoing reports of compliance activities with dates, names and acknowledgments. These reports can demonstrate an employer’s good faith efforts to comply with applicable laws and regulations. They can also be used internally to identify potential problem areas.
Who Can Benefit from our Compliance Dashboard?
- Small employers without dedicated HR staff or who have a small staff with multiple responsibilities. Staff members are typically not trained or educated in this aspect of group insurance, and in many cases, these employers are unaware of their obligations and the fiduciary standards to which they are being held.
- Large employers with a dedicated human resources department. While HR staff may be knowledgeable in this aspect of group insurance, they are typically inundated with day-to-day HR responsibilities that are more time-sensitive or pressing. They may not have the time to follow-up and ensure compliance instructions are understood and carried out.
- Multiple location employers who distribute compliance information from a home office to multiple regional offices. Home office personnel do not always have the time or ability to train regional offices on health and welfare plan laws, nor can they follow up and ensure compliance instructions are understood and carried out.
- Multiple Employer Plans where no one is designated with accountability for assuring that compliance tasks are fulfilled. Responsibility for health plan compliance is often not clearly defined or understood among the various entities involved in plan administration. In many cases, individual employers are not educated on their compliance responsibilities.
- The Lank Group Compliance Dashboard is not intended to provide guidance to benefit plans sponsored by the federal government. Also, the laws presented in the dashboard may not apply to all health and welfare plans. Some laws may impose different obligations on different plans. The compliance dashboard provides general guidance to help employers determine the appropriate requirements under each law; however, an employer is responsible for determining its own obligations based on its own unique circumstances.