Data is a powerful tool that can help you stay ahead of your competition and reduce your exposures. We harness the power of our broad and deep intellectual capital to transform your raw data into practical, useful information. We use your business history, our client experiences, and insights gleaned from national trends to support your decision making.
Understanding your claims experience empowers you to manage costs and improve the safety of your employees. Our experts leverage claims analytics tools to model your claims activity, providing insights for you to manage and reduce costs. This information can be used to negotiate renewal pricing, anticipate the impact of program changes and benchmark your claims activity. This means you’re able to make well-informed decisions about your risk management programs.
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.
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