UpSwing Compliance and Technology

The Department of Labor (DOL) has announced its 2025 inflation-adjusted penalties for employee benefits compliance. These changes, effective for penalties assessed after January 15, 2025, highlight the importance of staying on top of filing and disclosure requirements. Here’s what employers need to know: Form 5500 Filing Penalty ??What it is: The annual filing for large ERISA-covered plans, providing detailed plan information. ??Why it matters: Late filings come with steep penalties. Penalty Updates: 2024: $2,670 per day late 2025: $2,739 per day late Avoid penalties with Upswing’s expert guidance to ensure your filings are accurate and on time. Summary of Benefits and Coverage (SBC) Penalty ??What it is: A mandatory disclosure helping employees understand their health coverage options. ??When to provide it: At open enrollment and during special enrollment events. Penalty Updates: 2024: $1,406 per failure 2025: $1,443 per failure Have questions about compliance? We are here to help. Contact us today to review your processes and stay penalty-free. 954.378.2511 | https://lnkd.in/eR_U86tC Stay compliant, stay confident—let’s tackle 2025 together! #Form5500 hashtag#SBCCompliance hashtag#UpSwing

The Department of Labor (DOL) has released its 2025 inflation adjustments for civil monetary penalties related to employee benefits compliance. These updates, which take effect for penalties assessed after January 15, 2025, impact critical filing and disclosure requirements that employers must meet. Below are the key adjustments affecting Form 5500 and Summary of Benefits and Coverage (SBC) compliance. ??Form 5500 Filing Penalty The Form 5500 is a required annual filing for large ERISA-covered plans, providing detailed information about the plan. Failure to file on time can result in substantial penalties. 2024 Penalty: $2,670 per day late 2025 Penalty: $2,739 per day late Our experienced team here at UpSwing can help ensure your filing obligations are met to avoid costly penalties and maintain compliance. ??Summary of Benefits and Coverage (SBC) Penalty The SBC is a required disclosure designed to help employees clearly understand their health coverage options. Employers must provide the SBC at open enrollment and upon special enrollment events. 2024 Penalty: $1,406 per failure 2025 Penalty: $1,443 per failure If you have any questions about your compliance requirements or would like to review your filing process, contact UpSwing today for assistance. https://lnkd.in/ewGyDfXY | 954.378.2511 #Form5500 #SBCCompliance #UpSwing

Navigating ACA reporting doesn’t have to be complicated. With UpSwing ACA Reporting Solutions, backed by our Hold-Harmless Guarantee, you can achieve compliance with ease and confidence. Our services are designed to remove the complexity from ACA administration while helping you mitigate the risk of costly IRS penalties. Here’s how we deliver value: - Comprehensive Reporting Support: - Code Assignment: Accurate identification of Series 1 and Series 2 codes tailored to your needs. - Cost Calculations: Assistance with affordability Safe Harbor determinations and coverage cost analysis. - Form Submission: Reliable filing of 1094 and 1095-C forms through the ACA AIR System. - Documentation Management: Secure archiving for easy reference and compliance. - Employee Outreach: Mailing forms directly to employees (postage fees apply). - Self-Funded Plan Compliance: Completion of Section III for applicable organizations. At UpSwing, we take the guesswork out of ACA reporting, allowing you to focus on your core business while we handle the details. Take the Next Step Toward Simplified Compliance https://lnkd.in/ejNY9say We are your trusted partner in ACA compliance, every step of the way. #ACACompliance #UpSwing #BusinessSolutions

Stay stress-free this reporting season. Our ACA Reporting Solutions come with a Hold-Harmless Guarantee, ensuring your organization’s compliance without the headache. Let us handle the intricate details so you can focus on what matters most, your business. Why Choose UpSwing? We’re here to help you confidently navigate ACA requirements, reducing the risk of costly IRS penalties. With our trusted team by your side, ACA compliance has never been this simple or reliable. Our all-in-one ACA services include: ?? Accurate assignment of Series 1 and Series 2 Codes ?? Affordability Safe Harbor support and coverage cost calculations ?? Timely submission of 1094/1095-C Forms through the ACA AIR System ?? Secure document archiving ?? Employee form mailing (postage fees apply) ?? Section III completion for self-funded plans (if needed) Simplify compliance and gain peace of mind today. Ready to connect? Contact our team: https://lnkd.in/emvv5EnA #SimplifyACA #ComplianceMadeEasy #UpSwingSolutions #ACAReporting

Stay stress-free this reporting season. Our ACA Reporting Solutions come with a Hold-Harmless Guarantee, ensuring your organization’s compliance without the headache. Let us handle the intricate details so you can focus on what matters most, your business. Why Choose UpSwing? We’re here to help you confidently navigate ACA requirements, reducing the risk of costly IRS penalties. With our trusted team by your side, ACA compliance has never been this simple or reliable. Our all-in-one ACA services include: ?? Accurate assignment of Series 1 and Series 2 Codes ?? Affordability Safe Harbor support and coverage cost calculations ?? Timely submission of 1094/1095-C Forms through the ACA AIR System ?? Secure document archiving ?? Employee form mailing (postage fees apply) ?? Section III completion for self-funded plans (if needed) Simplify compliance and gain peace of mind today. Ready to connect? Contact our team: https://lnkd.in/emvv5EnA #SimplifyACA #ComplianceMadeEasy #UpSwingSolutions #ACAReporting

It’s That Time of Year Again: Simplify Your ACA Reporting with UpSwing! Ensure your organization’s ACA compliance with UpSwing ACA Reporting Solutions, backed by our Hold-Harmless Guarantee. We make onboarding simple and seamless, so you can focus on your business while we handle the complexities of ACA reporting. At UpSwing, we empower businesses to navigate ACA compliance confidently, helping organizations avoid costly IRS penalties. Non-compliance can result in significant fines, but with UpSwing, you have a trusted partner to guide you every step of the way. Our comprehensive ACA administration includes: ??Assignment and Identification of Series 1 and Series 2 Codes ??Affordability Safe Harbor Assistance and Cost of Coverage Calculations ??Submission of 1094 and 1095-C Forms through the ACA AIR System ??Document Archiving ??Mail Delivery to Employees (postage fees apply) ??Section III Completion for Self-Funded Plans (as applicable) To learn more about streamlining your ACA reporting with accuracy and peace of mind, click here: https://lnkd.in/es9nnMWe Ready to talk with our team? Contact us today: https://lnkd.in/ezkP6msB #ACAReporting #BusinessSolutions

FSA, HSA, and HRA spending has never been easier. The UpSwing consumer benefits MasterCard? provides your employees instant access to their HSA, FSA, and HRA accounts, allowing your team to access their funds to pay for qualified medical expenses at the point of service. Employees can use their card to pay for deductibles, co-insurance, prescriptions, vision, dental care and more. Our goal is to provide a simple way to ensure your employees have the access they need, with zero hassle. We are ready to talk to you! Contact us today to learn more: https://bit.ly/4e9TUpR #HSA #FSA #HRA #HealthSavingsAccount *Disclaimer: This card is issued by Avidia Bank, Member FDIC, pursuant to license by Mastercard International and the circles design are trademarks of Mastercard International Incorporated. Avidia Bank is not affiliated in any way with your benefit plan and/or plan documents, and does not endorse, sponsor or administer your benefit plan.

UpSwing Compliance and Technology Solutions has made the employee experience even better for your Flexible Spending Accounts (FSAs), Health Savings Accounts (HSAs), and Healthcare Reimbursement Accounts (HRAs) through our state-of-the-art mobile app, available for download today, via Google Play or Apple Store. With our mobile app (UpHealthEase), you’ll have access to a simple way to check balances, process claims, scan items for eligibility, take pictures of receipts, report/lost stolen cards, and sign up for email and text alerts. Plus, our app offers a quick and easy claim substantiation. Are you ready to deliver an enhanced digital experience to your team? Now is the time to provide your employees the best of the best. Reach out today and explore the next generation of digital health savings. Click here to connect and learn more: https://lnkd.in/eXmG3DBX #UpSwing #FSA #HSA #HRA #HealthSavingsAccounts

Simplify benefits administration with UpSwing. Your employees can set aside pre-tax funds for healthcare expenses not fully covered by traditional insurance. We offer complete administration of: ??Flexible Spending Accounts (FSAs) ??Health Reimbursement Accounts (HRAs) ??Health Savings Accounts (HSAs) Save time and money while providing top-notch options, service, and support for employee spending accounts. Visit https://lnkd.in/eqXNPEu8 to learn more and give your employees the benefit of pre-tax savings. #UpSwing #BenAdmin #FSA #HSA #HRA #HealthSpendingAccounts

UpSwing Compliance and Technology Solutions is proud to introduce a COBRA solution that simplifies what is inherently a complex, challenging and time consuming HR function. This new take on COBRA Administration provides: ?? Flexible employer structure & benefit eligibility design ??Fully automated self-service tools ??End-to-end automation ??Flexible reporting & data exporting ??User control access ??Flexible premium disbursements schedules ??Enhanced participant experience and ??Various payment options Even during challenging times for employees, employers can have confidence knowing they have the tools and resources to successfully enroll and manage their COBRA accounts. Is your business and HR team ready to deliver an enhanced participant experience? There’s no better time than now. Let’s connect today and explore the next generation of COBRA solutions. [email protected] | 954-378-2511 #COBRA #Solutions #EmployeeBenefits #BenAdmin