Understanding Minimum Essential Coverage (MEC) can be complicated when compared to minimum value, essential health benefits, and actuarial value. Let’s start by answering: what is it and what does it cover? Minimum Essential Coverage is a plan that meets the Affordable Care Act (ACA) requirements for health coverage. Some of these programs include: Marketplace plans […]
The Employee Retention Tax Credit was rolled out as part of the CARES (Coronavirus Aid, Relief, and Economic Security) Act. It was enacted to encourage employers to retain employees throughout the Coronavirus pandemic. As our country begins to understand the full scope of COVID-19, this credit could allow employers to keep employees on their […]
With the 2024 employee benefits open enrollment season rapidly approaching, employers find themselves at a crucial crossroads in determining the affordability of their health plans for employees. Recent IRS guidance has ushered in significant changes, making it imperative for Applicable Large Employers (ALEs) to stay informed and navigate the evolving landscape. This comprehensive guide is […]
In today’s competitive job market, employers are constantly seeking new ways to attract and retain top talent. One area that has seen significant advancements and innovation is employee benefits. As the workforce evolves, so do the expectations and needs of employees. In this blog post, we will explore the future of employee benefits, focusing on […]
Healthcare providers have been offering remote services for years, which have allowed patients to receive healthcare from the comfort of their own homes. However, following the COVID-19 pandemic, telemedicine services became a necessity and are now a common tool utilized by many patients and healthcare professionals. Why? These phone and video calls help patients protect […]
Employers, especially Applicable Large Employers (ALEs) with 50 or more full-time equivalent employees in the previous year, are subject to crucial regulations under the Affordable Care Act (ACA) when it comes to healthcare coverage. It’s essential to have a comprehensive understanding of these rules to steer clear of potential penalties. In this blog, we will […]
In the ever-evolving landscape of business, the quest to attract and retain top-tier talent has become an unrelenting pursuit for organizations striving to achieve sustained success and growth. In this pursuit, companies are constantly seeking innovative and effective strategies to create an environment that not only attracts the best employees but also nurtures their loyalty, […]
In today’s competitive job market, employee retention is a pressing concern for employers in the Hospitality and Food Services industry. To tackle this challenge effectively, one powerful tool at the disposal of hospitality operators is the design of comprehensive employee benefits packages, with a particular focus on health insurance and retirement benefits. When crafting your […]
In the healthcare sector, home health agencies often face a higher likelihood of IRS audits due to potential ACA non-compliance. This increased scrutiny primarily results from the prevalence of hourly employees in the industry and data collection complexities. To prevent such audits, agencies must thoroughly review their compliance records and grasp the federal government’s requirements, […]
In the ever-evolving landscape of healthcare, businesses must navigate a myriad of choices when it comes to providing health insurance for their employees. One option that has gained attention, particularly among smaller businesses and those seeking to comply with the Affordable Care Act (ACA), is Minimum Essential Coverage (MEC) plans. These plans offer a set […]