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
CMS Renames ICHRAs as CHOICE Arrangements
The Centers for Medicare and Medicaid Services (CMS) recently introduced a new name for individual coverage health reimbursement arrangements (ICHRAs), now referred to as CHOICE Arrangements. CHOICE Arrangement stands for Custom Health Option and Individual Care Expense Arrangement. On Sept. 3,
Key HSA Features – 2027 Compliance
Health savings accounts (HSAs) are a popular type of tax-advantaged medical savings account available to individuals enrolled in high deductible health plans (HDHPs). Individuals can use their HSAs to pay for expenses covered under an HDHP until their deductible is
Benefits Terms Decoded
Benefits language can feel like its own vocabulary, filled with abbreviations and terms that rarely come up outside of enrollment season. The following glossary explains the terms most commonly encountered when reviewing or selecting benefits, organized into four groups covering:
Market Forces Impacting Employers in 2026
Fully Insured Employers Self-Funded Employers Renewal season has a way of repeating itself for many fully insured employers. Regardless of claims experience, premiums continue to go up. Insurers do not base rates solely on any one employer’s recent claims history. Instead,
Employer Resources: 2027 Open Enrollment
During the 2027 open enrollment season, employers have an opportunity to develop attractive benefits offerings and proactively communicate with employees to help them understand what’s available. The following resources outline how employers can thoughtfully kick off open enrollment efforts. Table
Health Plan Affordability Percentage for 2027 (Pay-or-Play Rules)
On July 21, 2026, the IRS released Revenue Procedure 2026-26 to index the contribution percentage in 2027 for determining the affordability of an employer’s health plan under the Affordable Care Act (ACA). For plan years beginning in 2027, employer-sponsored coverage will be