Compliance
Large employers are required to offer full-time employees and dependents the opportunity to enroll in qualifying health coverage. Failure to offer coverage or even offering coverage that does not meet certain affordability and coverage standards, could result in large tax penalties being levied against your company.
Human Resources
Human Resources is a critical and complex piece of every business. Our experts can provide a broad range of services to either support your existing HR team or serve as your companies own HR department at a fraction of the cost.
Financial Planning
Parrott Financial serves as a link between your business and the multitude of investment and insurance options available. Through strong carrier relationships and exceptional customer care, we will create a custom financial plan tailored to your business’s unique needs and goals for overcoming economic challenges.
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Latest News
Upcoming ACA Reporting Deadlines
Employers subject to Affordable Care Act (ACA) reporting under Internal Revenue Code Sections 6055 or 6056 should prepare to comply with reporting deadlines in early 2025. For the 2024 calendar year, covered employers must: Furnish statements to individuals by March 3, 2025 (an
ICHRA Adoption Grows Nearly 30% in 2024
A new report by Remodel Health revealed that U.S. employers’ adoption of individual coverage health reimbursement arrangements (ICHRAs) increased 29% from 2023-24. The 2024 report found a consistent spread of adoption across industries and both small employers and applicable large employers (ALEs). Since
PCORI Fee Amount Adjusted for 2025
The Internal Revenue Service (IRS) has issued Notice 2024-83 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2024, and before Oct. 1, 2025. The updated PCORI fee amount is $3.47 multiplied by the
Post-Open Enrollment Checklist
An organization’s post-open enrollment activities can be just as important as the tasks that must be completed leading up to and during open enrollment. After wrapping up open enrollment, there are many benefits-related responsibilities employers must address before the start
7 Employment Policies to Review in 2025
Employee handbooks are important for establishing employee expectations, addressing workplace issues and defending against potential lawsuits. Failing to update the employment policies in these handbooks regularly can make employers vulnerable to legal risks and liabilities that may result in costly
Key Drivers of 2025 Health Care Cost Increases
Health care costs are projected to increase substantially in 2025. Estimates show a similar growth in spending to 2024, marking multiple years of compounding costs. Specifically, health care costs in the United States are likely to increase by 7%-8% in 2025,