Entries by magdi
Fully Insured vs. Level Funded Plans: A Guide for Qualified ALEs
As a Qualified Applicable Large Employer (ALE), choosing the right employee health insurance plan is crucial for your organization’s financial health and employee satisfaction. Two popular options for providing healthcare coverage to your employees are Fully Insured Plans and Level Funded Plans.… Read More
HOW WORKSITE BENEFITS BENEFIT EVERYONE
THE HIGH COST OF HEALTH CARE AND THE EVOLUTION OF INSURANCE PLANS WITH HIGH DEDUCTIBLES HAS CREATED A MARKET FOR VOLUNTARY BENEFITS.
Worksite benefits, often referred to as employee benefits or perks, play a crucial role in the modern workplace. Beyond just being a tool for attracting and retaining talent, worksite benefits have far-reaching advantages that benefit not only employees but also employers and society as a whole.… Read More
11 Minutes to a Longer Life
Living a longer, healthier life requires physical activity, eating healthy, and routine visits to the doctor. When these three factors work together, it allows you to stay your healthiest. In turn- your odds of living longer increase.
The Importance of Physical Activity
Physical activity doesn’t always mean an intense hour-long workout at the gym every day.… Read More
2024 Qualified ALE Compliance Deadlines
As we approach the new year, it’s crucial for employers to stay abreast of the compliance requirements surrounding employer-sponsored group health plans. Ensuring compliance not only maintains the integrity of the health plan but also avoids potential penalties and ensures employees receive the benefits they deserve.… Read More
Understanding ACA Compliance: A Guide for Applicable Large Employers (ALEs)
For Applicable Large Employers (ALEs), compliance with the Affordable Care Act (ACA) is not just a legal obligation but a crucial aspect of business operations. Understanding the nuances of ACA compliance can help your organization avoid penalties and ensure that your employees have access to affordable healthcare.… Read More
What is MEC and What Does It Cover?
Understanding Minimum Essential Coverage (MEC) can be complicated when compared to minimum value, essential health benefits, and actuarial value.
Let’s start by answering: what is it and what does it cover? Minimum Essential Coverage is a plan that meets the Affordable Care Act (ACA) requirements for health coverage.… Read More
Employee Retention Credit and What it Means
The Employee Retention Tax Credit was rolled out as part of the CARES (Coronavirus Aid, Relief, and Economic Security) Act. It was enacted to encourage employers to retain employees throughout the Coronavirus pandemic. As our country begins to understand the full scope of COVID-19, this credit could allow employers to keep employees on their payroll and keep their doors open.… Read More
What ALEs Need to Know About Benefits in 2024
With the 2024 employee benefits open enrollment season rapidly approaching, employers find themselves at a crucial crossroads in determining the affordability of their health plans for employees.
Recent IRS guidance has ushered in significant changes, making it imperative for Applicable Large Employers (ALEs) to stay informed and navigate the evolving landscape.… Read More
Exploring Emerging Trends and Innovations with MEC
In today’s competitive job market, employers are constantly seeking new ways to attract and retain top talent. One area that has seen significant advancements and innovation is employee benefits. As the workforce evolves, so do the expectations and needs of employees.… Read More