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Do Part-Time Employees Get Benefits?

If you hire part-time employees to supplement your full-time staffers, you may be wondering whether you need to offer them health insurance. While the Affordable Care Act includes part-time workers into their calculation for whether companies are required to offer health insurance to their employees, it doesn’t mandate that these employees be offered such insurance. […]

Qualifying Events for Employer-Sponsored Health Insurance

Every year, there is an open enrollment period where employees are able to sign up or renew their employer-sponsored health insurance coverage. During this period, employees have the right to switch plans — if the employer offers multiple choices — or sign up for a plan if they haven’t had one before. Once this open […]

When Does an Employer Have to Offer Health Insurance?

A lot of changes in health insurance were made when the Affordable Care Act went into effect in March of 2020. One of the major changes was a mandate that certain employers had to offer their employees health insurance coverage, otherwise they could face stiff penalties. If your company fits within certain limits, you will […]

What Are Supplemental Benefits?

The health insurance landscape has experienced massive changes in recent years. As health care costs have increased, so, too, have the costs of providing health coverage to people all around the country. Many insurance companies have passed on those increased costs to those they insure so that premiums remain reasonably affordable. As a result, high-deductible […]

What Are the FSA Limits for 2023?

With costs rising yearly, it’s becoming increasingly difficult for everyday people to pay for their annual medical expenses. In addition to increasing health insurance premiums, the costs for the actual medical expenses that people are forced to pay out of pocket are also growing. To help offset some of these costs, the IRS has created […]

Your Guide to 2023 HSA Eligibility Requirements

In recent years, the IRS has made available tax-advantaged savings accounts specifically designed to pay for out-of-pocket medical expenses. With healthcare costs rising across the country—and with high-deductible health plans becoming the norm increasingly—the federal government has been trying to encourage people to set money aside to pay for medical costs. One of those accounts […]

Your Guide to Health Insurance Captives and Consortiums

Health insurance costs are rising yearly, creating significant challenges for individuals and employers who provide health coverage to their workers. With no control over where health insurance costs will go in the future, employers are turning to alternative options to keep these expenses lower. Two major alternative options today are health insurance captives and consortiums. […]

IRS ACA Reporting & What You Need to Know

The Affordable Care Act first went into effect in 2010. Five years later, the Employer Mandate—known officially as the Employer Shared Responsibility Provisions, or ESRPs—took effect. In essence, the Employer Mandate is a list of provisions that large employers must abide by regarding offering health insurance to their employees. If they fail to meet these […]

The Best Things to Buy with Your FSA

The proliferation of high deductible health plans has sharply increased employees’ costs for their health care. In response, the federal government has created multiple tax-advantaged accounts to pay for medical expenses. One such account is called a Flexible Spending Account (FSA). Employees can set up these accounts with their employer, allowing them to pay qualifying […]

10 Health Insurance Terms You Need to Know

Health insurance is commonplace among Americans, but how many people understand their coverage? The answer, unfortunately, is probably not many. Every year, Americans have a choice about what type of health coverage they wish to purchase during open enrollment. However, selecting which plan is best for you can be challenging if you don’t understand essential […]