FAQ

How can compliance services assist businesses in meeting the requirements of the Corporate Transparency Act (CTA)?

Compliance services offer tailored solutions to help businesses navigate the complexities of the Corporate Transparency Act. These services often include conducting thorough ownership assessments, preparing and submitting accurate Beneficial Ownership Reports, and ensuring ongoing compliance with evolving regulatory standards.

What are the consequences of non-compliance with Beneficial Ownership Reporting?

Non-compliance with Beneficial Ownership Reporting can result in significant penalties, both criminal and civil. Businesses failing to adhere to these reporting requirements may face legal consequences, including fines and other punitive measures.

Our company, established in 2015, initially focused on addressing compliance regulations mandated by the Affordable Care Act. As time progressed, the compliance landscape expanded, prompting our evolution to cater to our clients’ needs. With over 15,000 compliance clients served, we’ve gained valuable insights in providing comprehensive compliance services. We’ve also honed our ability to integrate with and support our partners in meeting the compliance requirements of their third-party clients, including beneficial ownership reporting.

In 2015 we launched our first division, ACA Reporting Service, to meet the new compliance requirements under the Affordable Care Act.  We then evolved to handling State Based ACA Reporting requirements as various states began to add requirements.

Two years later in 2017 we launched Self Insured Reporting which has since become a marketplace leader in health plan claim analytics and financial reporting with integrations to 100+ different TPAs and 40+ PBMs.  In 2020 we then evolved to offering an integrated disease management app called PlanWELL Health. 

Then in 2021 we launched other various divisions to assist with new compliance requirements under the Consolidated Appropriations Act (CAA).  Our Mental Health Parity division has since become the marketplace leader in creating comparative analysis documentation required for Mental Health Parity compliance.  RxDC Reporting was soon to follow to help TPAs and PBMs with this new compliance requirement.

About Us

PlanWell Health is the first benefits and health integrated platform that allows employees to access benefits information, improve their health and save money – all in one place.

PlanWell Health is the culmination of a vision our CEO had many years go of taking health plan analytics and making them actionable. Our platform was created from the collective wisdom of dozens of healthcare professionals who have worked in a myriad of different roles across the entire healthcare delivery system.

Our CEO, Mark Combs, began as an employee benefit broker growing his agency and ultimately selling Gallagher. During his 15 years as a consultant to self-insured employers, he conducted many client meetings reviewing the utilization of plan members. Mark describes it this way:

“In those meetings we would create the amazing plans of how we were going to get everyone to have a physical, how we were going to target the diabetics and get those using expensive providers to change their behavior. Unfortunately this talk almost never turned into action.”

The journey began in 2016 with the launching of a landmark claim analytics platform Self Insured Reporting. This was the first step of solving for the ‘blocking and tackling’ of managing self-insured healthplans. Self Insured Reporting integrates with over 80 different TPAs and PBMs to consolidate claims data, integrate management of reinsurance and reporting, and delivering clinical insights into employee health.

PlanWell Health was the final step of linking claim analytics to a communication platform directed at the end user of your healthplan. This approach makes us completely unique in the industry and we are excited to be part of the solution to controlling healthcare costs.

 

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