Tango Health

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Prepare Yourself for an ACA Audit

Tango Health

Employers and health plan sponsors have numerous obligations under the Affordable Care Act (ACA). Starting in 2015, the ACA required large employers to provide affordable health coverage that meets minimum standards to their full-time employees, or else, face penalties. Employers must also demonstrate compliance with new disclosure and reporting requirements under specific IRS codes.

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Why You Should Measure Employee Benefits Engagement—And How to Get Started

Tango Health

Employers pay an average of $12.06 per hour worked to provide benefits for civilian workers, according to the U.S. Bureau of Labor Statistics. These costs amount to 31 percent of total employee compensation for workers in private industry and state and local government. But how many team members are using these benefits? Often employee benefits usage is a mystery to employers, but it shouldn’t be.

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Recent ACA Updates to IRS Deadlines and Good-Faith Effort

Tango Health

IRS Grants 2021 Extension and Proposes Permanent 1095-C Print Extension The IRS is granting an extension for the 2021 tax year and proposing to make this extension permanent for future tax years. The proposed regulations would permanently extend the deadline for furnishing a given year’s Forms 1095-B and 1095-C to individuals. The extension is for 30 days after January 31, 2021, and ongoing years (or the next business day, if the 30th day falls on a Saturday, Sunday, or legal holiday).

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Five Risky Biases to Avoid in Benefits Planning—and What to Do Instead

Tango Health

The future of work requires companies to be nimble. For instance, consider the demand for skilled employees. A Korn Ferry study foresees a global talent deficit of 85.2 million people by 2030, which could cause about $8.5 trillion in unrealized annual revenues. Successful benefits planning is a major driver in recruitment and retention, now more than ever.

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Why Giving COVID-19 Vaccine Incentives May Cause More ACA Headaches Than Benefits

Tango Health

Every organization desires healthy employees. They take fewer sick days, are more productive , and cost less to insure with an employer-sponsored health plan. A company may request their employees to receive annual health screenings or vaccinations, such as the flu shot. When employees and their covered family members do their part to remain healthy, the employer can realize those savings and keep healthcare costs lower.

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Improving Your Employees’ Mindset About Benefits… One Step at a Time

Tango Health

The word “benefits” springs from the Latin term benefactum , meaning “good deed.” Today, the phrase “employee benefits” often evokes mixed emotions. On one hand, 92% of employees say benefits are important to their overall job satisfaction, according to a Society for Human Resource Management (SHRM) survey. On the other hand, team members often feel confused, frustrated, and stressed when it comes to understanding and choosing from their company’s range of options.

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Why – and How – To Prioritize Your Open Enrollment Benefits Communications

Tango Health

Fall is almost here, bringing a flurry of autumn leaves—and, in many companies, an avalanche of emails about employee benefits. For HR leaders, open enrollment season is a prime time to communicate with team members about their benefits and help them select the right plans for themselves. With so much happening during open enrollment, you might be tempted to unleash a flood of messages to get your employees’ attention.