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
Deadline for Submitting Gag Clause Attestation Is Dec. 31, 2024
Under the Consolidated Appropriations Act, the Gag Clause Prohibition Compliance Attestation (GCPCA) is an attestation of compliance with Internal Revenue Code (Code) section 9824, Employee Retirement Income Security Act (ERISA) section 724, & Public Health Service (PHS) Act section 2799A-9. These provisions generally
Getting the Most Out of 2025 Open Enrollment Communications
Open enrollment is a crucial period for both employers and employees. It’s when employees can make important decisions about their benefits and an opportunity for employers to engage with their workforce effectively. As organizations continue to adapt to evolving workforce
Social Security Announces 2.5 Percent Benefit Increase for 2025
PRESS RELEASE: Social Security has announced that Social Security benefits and Supplemental Security Income payments for more than 72.5 million Americans will increase by 2.5 percent in 2025. For more information, please visit www.ssa.gov/news/press/releases. To see the 2025 Social Security changes, here is a fact
ACA Compliance Checklists for 2025
Complying With the ACA’s Pay-or-Play Rules for 2025 The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum value health coverage to their full-time employees (and dependents) or potentially pay a penalty to the IRS. This
Telehealth Exception for HDHP/HSA Plans May Expire Soon
In response to the COVID-19 pandemic, the U.S. Congress enacted legislation that temporarily allowed high deductible health plans (HDHPs) to provide benefits for telehealth services before plan deductibles were met. This relief became effective in 2020 and has been repeatedly
Mercer Report Projects 5.8% Health Benefits Cost Increase in 2025
U.S. employers estimate that health benefit costs will increase by 5.8% in 2025, according to Mercer’s 2024 National Survey of Employer-sponsored Health Plans. This would mark the third consecutive year that the total cost per employee rose more than 5%. The