Author Archives: Hoffman Insurance Group

4 Key Trends Driving Employer Health Care Costs in 2024

Brought to you by: Hoffman Insurance Group, LLC Amid ongoing inflation pressures, employees and employers alike can expect their health care costs to increase in 2024. Global professional services firm Aon reported that health care costs for employers will grow … Continue reading

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The U.S. Food and Drug Administration (FDA) recently approved Zepbound, further expanding the market of government-approved weight loss medication. The new injectable drug, which is made by Eli Lilly and Company, is intended for use by adults with obesity or … Continue reading

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What You Should Know About Medicare Enrollment

Medicare is health care coverage for those age 65 and older. It’s important to understand Medicare enrollment and coverage options to avoid penalties down the road. Whether you’re reaching the age of 65 or you’re older and switching from your … Continue reading

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    HIGHLIGHTS The IRS has announced the affordability percentage that will apply under the ACA’s pay or play rules for plan years beginning in 2024. This percentage (8.39%) is a significant decrease to the affordability threshold. ALEs will need … Continue reading

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LEGAL UPDATE – PCORI Fee Amount Adjusted for 2024

The Internal Revenue Service (IRS) has issued Notice 2023-70 to increase the Patient-Centered Outcomes Research Institute (PCORI) fee amount for plan years ending on or after Oct. 1, 2023, and before Oct. 1, 2024. The updated PCORI fee amount is … Continue reading

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Number of Uninsured Drivers Increases as Rates Rise 5.9% in H1 2023

By Will Jones As personal auto insurance rates continue to accelerate upward, drivers are at a crossroads. Some are taking to the market to find cheaper rates—while others are choosing to drive without coverage. Auto insurance premiums have increased at … Continue reading

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CHECKLIST- Completing Form I-9

Federal law requires employers to hire only individuals who may legally work in the United States—either U.S. citizens or authorized foreign nationals. To comply with the law, employers must verify the identity and employment authorization of each individual they hire … Continue reading

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Educating Young Employees on Open Enrollment

Many employees need help with open enrollment. This is particularly true among younger workers, who typically have less experience selecting benefits than older generations that have been in the workforce longer. A study by insurance and employee benefits provider MetLife … Continue reading

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