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What Is an Employee Benefits Consultant and What Do They Do?

Fringe Benefit Analysts

That is why many businesses rely on independent employee benefits consultants to guide them through the process of choosing competitive benefit packages that are cost-effective for all concerned. Once a plan is selected, a benefits consultant dispenses the chosen packages and manages the benefits going forward.

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Employer Reporting on Prescription Drug Pricing Due By 12/27

Griffin Benefits

Finally, short-term limited duration insurance (which is typically an individual market product) is also exempt. Practical Challenges Fully-insured employers may contract with their insurance carriers to provide prescription drug reporting on their behalf.

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Your 2025 benefits compliance checklist: What you need to know

WEX Inc.

Dependent eligibility audits are essential for maintaining adherence to insurance carrier requirements and minimizing potential litigation. COBRA notifications COBRA provides employees and their families the option to continue health insurance coverage during qualifying events. Retirement plan compliance (SECURE 2.0

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ACA Affordability to Extend Beyond Employee-only Coverage

Griffin Benefits

The ACA requires Applicable Large Employers (“ALEs”) who average 50 or more full-time equivalent employees in the prior calendar year to offer health insurance to their full-time employees. By contrast, ALEs are not required to pay anything towards the health coverage cost for the employee’s spouse or dependent children.

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Medical Plans Have PCORI Fee Extended 10 Years

Fringe Benefit Analysts

For those needing help calculating the average number employees and dependents during the plan year, you can typically request this information from your medical insurance carrier or third-party administrator (TPA).

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Healthcare and Insurance Industry Consolidation: A Bitter Pill?

Corporate Synergies

So far, the trend toward retail pharmacy, PBM and health insurance industry consolidation doesn’t seem to benefit all stakeholders. Here’s why… Insurance industry consolidation is occurring at an unprecedented rate. Health insurance industry consolidation hasn’t been good for healthcare consumers or employers.

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Professional Employer Organization (PEO): Right for Your Business?

Business Management Daily

For example, while some PEO companies only offer basic HR tasks like payroll services and compliance with tax laws, others provide more comprehensive service suites, including onboarding, health insurance, and administrative tasks. Let’s say you want to provide dental and vision insurance for your employees.