Compliance
Large employers are required to offer full-time employees and dependents the opportunity to enroll in qualifying health coverage. Failure to offer coverage or even offering coverage that does not meet certain affordability and coverage standards, could result in large tax penalties being levied against your company.
Human Resources
Human Resources is a critical and complex piece of every business. Our experts can provide a broad range of services to either support your existing HR team or serve as your companies own HR department at a fraction of the cost.
Financial Planning
Parrott Financial serves as a link between your business and the multitude of investment and insurance options available. Through strong carrier relationships and exceptional customer care, we will create a custom financial plan tailored to your business’s unique needs and goals for overcoming economic challenges.
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Latest News
Updates on UnitedHealth Group Cyberattack
Website: http://changecybersupport.com/ Call Center: 1-866-262-5342 On February 21, 2024, UnitedHealth Group detected a cyber threat from actors linked to a ransomware group. This attack breached part of its subsidiary Change Healthcare’s IT network. Ransomware groups are known to steal sensitive
Checklist: Responding to a IRS Letter 226-J
The Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer affordable, minimum-value health coverage to their full-time employees (and dependents) or potentially pay a penalty to the IRS. These penalties are commonly referred to as “pay-or-play” penalties. The
FTC Announces Rule Banning Noncompete Agreements
On April 23, 2024, the Federal Trade Commission (FTC) voted to issue a final rule that would ban noncompete agreements in virtually all employment relationships. The final rule has not yet been filed in the Federal Register, but is scheduled
Best Practices for Reclassifying Employees as Nonexempt
The Fair Labor Standards Act (FLSA) provides minimum wage and overtime pay protections to most employees. Employees generally must be classified as “nonexempt” and, therefore, be eligible for such minimum wage and overtime protections unless they meet the criteria to
EEOC’s Final Rule Implementing Pregnant Workers Fairness Act
On April 15, 2024, the U.S. Equal Employment Opportunity Commission (EEOC) released a final rule to implement the Pregnant Workers Fairness Act (PWFA).The final rule clarifies definitions and limitations under the PWFA and seeks to help employers understand their duties
Form 5500 Deadline is July 31st
Each year, employers that are subject to the Employee Retirement Income Security Act of 1974 (ERISA) must electronically file an annual report (Form 5500) for each employee benefit plan they maintain unless a filing exemption applies. Employers with employee benefit