With an unlimited budget it’s easy to offer an employee benefit program that puts you a cut above your competition. Unfortunately, unlimited budgets are often not a reality, and employers have to balance the needs of the organization, employees and budget when designing their benefit offerings.
We partner with you to understand your mission, corporate culture, demographics and budget, in order to connect your benefits strategy to them. Our process identifies not just cost advantages but also behavioral changes that take place when you alter your plan design. We compare trends in cost, utilization and population health to help you create a healthier, more productive workforce.
Through surveys you will know what benefits matter most to your employees. You won’t waste dollars on premiums, paying for services that are not valued by your employees. The result is a complete benefits strategy that stems the tide of rising costs and improves employee engagement — all making you an employer of choice.
The IRS recently released final 2020 Forms 1094-C and 1095-C and applicable instructions ahead of Affordable Care Act (ACA) reporting for 2020. As a reminder, applicable large employers (“ALEs”) must furnish Form 1095-C to full-time employees and file Form 1094-C and all 1095-Cs with the IRS. ALEs offering a self-insured group health plan must also furnish Forms 1095-C to covered employees or other primary insured individuals in the self-funded health plan (e.g., COBRA qualified beneficiaries). Additionally, due to the COVID-19 pandemic and challenges to business operations, ALEs may have variations to their reporting for 2020 due to furloughs and/or layoffs.
No one understands better than the person who administers benefits about the difficulty of open enrollment season. It was hard enough ambushing employees in the workplace to remind them that they need to submit their packets. Let’s not even talk about the headache of creating multiple schedules so that employees can take physical breaks from work and listen to benefits presentations. Now, administrators must figure out the best way to get the packet to the eligible employees in the first place.