Fortune 500 Benefits for Startups
5 Common Misconceptions Startups Have About Employee Benefits Startups often assume that being small means settling for less when it comes to benefits. In reality, they’re usually surprised by how competitive, affordable, and scalable their options can be. Myth #1: “We can’t offer Microsoft-level benefits.” Fact: You may be surprised by how close you can […]
Why Your Health Plan Costs More Than You Think
The Hidden Cost of Claims Friction When employers evaluate their health plan, they usually focus on one number: the renewal increase. But there is another cost that rarely appears on a renewal spreadsheet – and for many organizations, it’s just as expensive. It’s called claims friction. Claims friction is everything an employee has to go […]
Nondiscrimination Testing
Many employer-sponsored benefit arrangements are subject to nondiscrimination testing (NDT), which is designed to ensure plans do not disproportionately favor highly compensated employees. Common arrangements subject to testing include: What You Need to Do Note: Certain exceptions and safe harbors apply to some plan nondiscrimination tests. Because these tests are so complex, employers should work […]
Insurance is a Scam (Just ask Jessica)
Jessica got completely scammed. She works for a company that generously covers 100% of her health insurance premiums, so naturally, she pays $0 every month for coverage. Classic red flag. Then she needed surgery. She did what you’re supposed to do: stayed in-network, followed her doctor’s recommendations, scheduled everything properly. And yet, somehow, she still […]
Applicable Large Employer (ALE) Requirements
The Affordable Care Act (ACA) is the comprehensive health care reform law enacted in 2010. The ACA has many complex requirements for employers and their health plans. The attachments provide more information on ACA requirements for ALEs. 2027 ALE ACA Checklist 2027 ALE ACA Toolkit Determining ALE Status ALE Calculator Disclaimer: This article and attachments […]
Wrap Documents for Welfare Benefit Plans
Wrap Documents for Welfare Benefit Plans The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that sets minimum standards for employee benefit plans maintained by private-sector employers. Under ERISA, employer-sponsored welfare benefit plans, such as group health plans, must be described in a written plan document. In addition, employers must explain […]