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
ACA Information Reporting Penalties Released for 2026 Returns
IRS Revenue Procedure 2024-40 includes updated penalty amounts that may apply to reporting entities that fail to comply with the Affordable Care Act’s (ACA) requirements under Internal Revenue Code Sections 6055 and 6056. The increased amounts apply to 2025 information returns and
Summary of the 2024 Employer Health Benefits Annual Survey
Each year, the Kaiser Family Foundation conducts a survey to examine trends in employer-sponsored health benefits. This article summarizes the main points of the 2024 Employer Health Benefits Survey. Health Insurance Premiums In 2024, the average premiums for employer-sponsored health insurance
IRS Expands List of Preventive Care Benefits for HDHPs
On Oct. 17, 2024, the IRS issued Notice 2024-75 (the Notice) to expand the list of preventive care benefits permitted to be provided by a high deductible health plan (HDHP) without a deductible (or with a deductible below the minimum deductible) to
Guide to Voting in Upcoming Elections for Employers & Employees
Election Day is Tuesday, November 5, 2024. This year, voters will submit ballots for a presidential election as well as important state and local elections across the country. Employees can review the following information from the U.S. government regarding how,
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