Group Health
Employers With Level Funded Health Plans Are Required To File Certain Tax Forms
Small employers that sponsor self-insured (Level Funded) plans must report minimum essential coverage (MEC) provided to individuals. IRS Form 1095-B: This form is filed for each individual covered under the self-insured plan. You must provide a copy to the covered individuals and file a copy with the IRS. IRS Form 1094-B: This is the transmittal form (cover sheet) that accompanies all the 1095-B forms when you file them with the IRS. 2. Excise Tax Form (PCORI Fee) Employers with self-insured health plans must pay the Patient-Centered Outcomes Research Institute (PCORI) fee annually. IRS Form 720: Use the Quarterly Federal Excise Tax Return (specifically for [...]
U.S. companies are facing the largest health insurance cost hikes in over a decade, with projections of a 9-10% increase in 2026. This surge, driven by higher hospital prices, increased service use, and costly medications, impacts both employers and employees. Many are adjusting plans, but costs are often passed down through higher premiums and out-of-pocket expenses. Staying ahead of these trends is crucial for managing healthcare budgets effectively. Are you prepared for the upcoming insurance cost shifts.
Association Health Plans
The Trump administration has issued a final ruling which will allow small businesses to come together and purchase what are called association health plans. These plans would tend to be cheaper because they will not be need to include benefits now required under the affordable care act. Insurance companies could sell health insurance plans that do not cover things like, maternity, prescription drugs, or mental health. Also, companies would be permitted to charge more for certain industries like restaurants or construction. The other problem is that most major insurance companies probably would not get involved in these plans since they [...]
Group Health Insurance Plans Can Be Started Anytime Of The Year
Many people believe that group health plans like Obamacare can only be started during the annual open enrollment, however that is not the case employee health insurance plans can be started anytime of the year. Also, if you have a plan all ready in place for your employees you can switch to a new plan with a new insurance company at any time, no need to wait until the current plan renews. Also, you only need two employees to start a plan and the rates are the same as they would be for a larger group.