Common plan updates, such as changes to your insurance carrier, contribution amounts, plan year effective date, and waiting periods, are just some of the reasons why you would need to update your POP document. (Photo: Shutterstock)
It's that time of year again: You've been focused on open enrollment and building the best possible benefit programs. You may even be putting certain compliance solutions in place to help protect your benefits and comply with federal laws. But when was the last time you updated your Section 125 Premium Only Plan document (POP document)?
Once it's been established, it's fairly common for businesses to give little thought to their POP document. What's more, employers sometimes struggle with establishing or adequately maintaining a POP document as part of their pre-tax benefit offering to employees.
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