Hi Everyone,
We sent out an email a few days ago about a webinar with Champion Health regarding their employee benefit product called the CHAMP Plan. We received feedback from one of InsMark’s software licensees that the CHAMP Plan employee benefits plan will not survive a tax audit. We take this very seriously, and you should as well.
Here is what we have determined so far:
1. Champion Health is a relatively small company offering the CHAMP Plan since 2018;
2. Champion Health has told us that the CHAMP Plan has been adopted by thousands of companies (most of them small businesses);
3. The CHAMP Plan has not yet been audited by the IRS. This could be positive or negative depending on your perspective;
4. Champion Health has hired a medium-sized law firm (Fraser Stryker) who has provided analysis and opinions asserting that the CHAMP Plan does meet all of the requirements and that the benefits provided are valid and will survive a tax audit. Specifically, Emily Langdon (https://lxjebhdab.cc.rs6.net/tn.jsp?f%3D001YXbBJOTaCZwdXOc2fJf6HiP8mxVkqOx1wf9WWsQiJe4TZPvlYC3ISFHmGNQmqX_8tGY0mt78XSO8ynYNM5ndwLXTfdmUReh2R1DpIrPVnPVmaEfO8uRMBJ8XDEILSVS6tlf2a0bOrFjnDgbz44_enNUagLFH2kUSSA5Hz1aSlISawHIlkLvBPOPu0IZV4TL3%26c%3DE1Nc3s2BMMH8PI4CvcR31pz_IMUKRmaNaxTix0hH2OOI0iIePudg-w%3D%3D%26ch%3D19RFOb4-d8A3w6AzADAkaWKk0jRznI6acNTcvkNyMM14AxLDrCK1-Q%3D%3D&source=gmail&ust=1746834223226000&usg=AOvVaw2zbPF6KGnJtlOiba-TPQy Z"> https://www.fraserstryker.com/attorney/emily-langdon/ ) is the attorney providing these opinions, and she is a partner and leads Fraser Stryker’s practice on employee benefits, ERISA and executive compensation. Click the links below for information about some of her comments on this subject:
https://lxjebhdab.cc.rs6.net/tn.jsp?f%3D001YXbBJOTaCZwdXOc2fJf6HiP8mxVkqOx1wf9WWsQiJe4TZPvlYC3ISFHmGNQmqX_8OVrNZvIAerRqGPE5q10xUM1EDMHjZw0Pd7Q-r5QPjnXGfqglkBxLLLanfzo8huEciKcV5Esl7gXlqlghEascGJJQCUkaN9cozxiJZzlfe6twWuhHJ0LfgLmU1zb_BSTIjZPAuKYJwZHtiKxGZ-h_4w%3D%3D%26c%3DE1Nc3s2BMMH8PI4CvcR31pz_IMUKRmaNaxTix0hH2OOI0iIePudg-w%3D%3D%26ch%3D19RFOb4-d8A3w6AzADAkaWKk0jRznI6acNTcvkNyMM14AxLDrCK1-Q%3D%3D&source=gmail&ust=1746834223226000&usg=AOvVaw2xg5C-qC503z3FolO5kAw 8"> https://champplan.com/news/too-good-to-be-true-public-version/
https://lxjebhdab.cc.rs6.net/tn.jsp?f%3D001YXbBJOTaCZwdXOc2fJf6HiP8mxVkqOx1wf9WWsQiJe4TZPvlYC3ISFHmGNQmqX_8p9S01A9cAmd1zN7vMWeBMURojH9aId4SV10_0aVLbmIlwEz2V-vyprWyqVKEyyS_ZHx3zlpUkdaspk6Y5nESly9KatNSOwzQ-Ah-LFbYME2HFdHBJEpjdiGny_za2qgd93aq18XVeqU%3D%26c%3DE1Nc3s2BMMH8PI4CvcR31pz_IMUKRmaNaxTix0hH2OOI0iIePudg-w%3D%3D%26ch%3D19RFOb4-d8A3w6AzADAkaWKk0jRznI6acNTcvkNyMM14AxLDrCK1-Q%3D%3D&source=gmail&ust=1746834223226000&usg=AOvVaw1f_VgX5dVaK3m6rGuAxB3 u"> https://champplan.com/news/erisa-update-public-version/
https://lxjebhdab.cc.rs6.net/tn.jsp?f%3D001YXbBJOTaCZwdXOc2fJf6HiP8mxVkqOx1wf9WWsQiJe4TZPvlYC3ISFHmGNQmqX_8n881q2R9fpmAeim4gbSVM7iE0n9nxlc-GlTTEr4TS3mfPOIMLk9mpMDJy7SGrSeWPvTdL_LaaYDCy4zbkub6d3O7FP5AU6zYY_ubtxyPJp3nee01cXGkpo2_VnBFO44EBuB3Q16S6DCr3D3FsSEVSyHfjIWRvxeB%26c%3DE1Nc3s2BMMH8PI4CvcR31pz_IMUKRmaNaxTix0hH2OOI0iIePudg-w%3D%3D%26ch%3D19RFOb4-d8A3w6AzADAkaWKk0jRznI6acNTcvkNyMM14AxLDrCK1-Q%3D%3D&source=gmail&ust=1746834223226000&usg=AOvVaw0pVCB7kMRXhwO43DQ26wX 2"> https://champplan.com/news/champplan-faq-fraser-stryker-public-version/
5. Miami Dade County (one of the largest municipalities in the U.S. with 30,000 employees) has been evaluating the CHAMP Plan for the past 12 months and is now moving forward with adoption of the plan. We will keep you updated on this as we learn more.
The benefits of the CHAMP Plan are significant for employers and employees…if the plan qualifies under the current tax code.