When singing up for group health insurance, here is a list of information your company should have ready: 

Employee Benefits Overview 
This is an updated benefits summary, provided to staff, that clearly states benefit details to the group, including: plan options, copayment amounts, network coverage details, deductibles, carrier information, agent contact details and more. 

SPD Wrap Documents 
SPD documents, or Summary Plan Descriptions, provide a detailed breakdown of all benefits being offered to staff as well as the ERISA provisions not covered in the employee handbook or presentation. This is one of the foremost ACA compliance documents. 

Section 125 Documents 
These IRS documents are mandatory for any groups enrolled in a Section 125 program, allowing employees to convert salary into non-taxable benefits. Under Section 125, premiums on qualified benefits can be paid pre-tax for additional savings. 

COBRA Rights Notification Letters 
New employees must be notified of their right to continue group health insurance benefits under the COBRA Act. As new employees join the group plan, they should receive a notice reviewing their right to remain on the plan. COBRA enrollment forms need to be mailed within 10 days of leaving the plan. 

Current Employee Census 
Having a current and up-to-date employee census will streamline many of the processes involved in offering affordable group coverage, as it will be submitted to the agent and carrier early in the quote and plan selection process. 

Employee Election Forms 
Each employee will need to fill out, sign and date a health insurance election form, indicating the type of coverage they wish to enroll in. They will also have the option of adding dependents, or declining coverage if so desired. 

Subsidy & Marketplace Documents 
If you have employees who receive health insurance subsidies or federal tax credits under Obamacare, be sure to have copies of any and all related documents to help prevent delays and other potential compliance violation issues. 

Form 1095 
Individuals enrolled in a qualifying plan under the health insurance marketplace will receive a Form-1095, allowing them to claim their premium credits. Depending on how your group plan is structured, you may be required to send these out to all applicable staff members. 

Forms 6055-6056 
These are IRS reporting forms that provide information relating to individuals covered under your group health plan. An agent can provide additional information on these or any other related group health coverage forms. 


Cosmo Insurance Agency is an independent insurance agency serving surrounding communities in New Jersey. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating the latest in technology-based tools and laws on healthcare, employee benefits, life insurance and finance, we keep our clients up-to-date with the plans that encompass all of their needs, whether it is individual or group insurance. 




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