Client Articles & Information
Statement of Health Forms
Statement of Health or Evidence of Insurability for Group Life and Disability Plans What Is a Statement of Health (SOH)? A Statement of Health (SOH)—also known as Evidence of Insurability (EOI)—is a health questionnaire required by insurance carriers when an employee...
HIA Financial’s Kelley Rays Honored as a 2025 Most Valuable Professional
We are thrilled to share that Kelley Rays, President and Employee Benefits Broker at HIA Financial, has been named a 2025 Most Valuable Professional by Corp! Magazine. This recognition celebrates Michigan’s most dynamic business leaders—individuals who are shaping the...
Cash-in-Lieu of Health Coverage: Employer Compliance Guide
This information outlines the permissibility and compliance requirements for employers offering a cash-in-lieu benefit to employees who waive employer-sponsored health coverage. It is intended for HR professionals and benefits administrators. You should always consult...
Michigan Employers Evaluating ICHRAs in 2025
Individual Coverage Health Reimbursement Arrangements (ICHRAs) have been marketed as a flexible alternative to traditional employer-sponsored health plans, promising greater employee choice and potential cost savings. However, many Michigan employers are finding that...
Proposed Changes to Michigan’s Earned Sick Time Act Starting February 2025
In our webinar on December 19, 2024, we discussed Michigan's new Earned Sick Time Act (ESTA) with attorney David Porter from Kienbaum, Hardy, Viviano, Pelton and Forrest. Click here for access to that webinar and supporting resources, such as a sample notice you may...
ACA Filing Updates – Simplifying ACA Reporting Requirements for Employers
In December 2024, the Biden administration enacted two significant laws to simplify Affordable Care Act (ACA) reporting requirements for employers: 1. Paperwork Burden Reduction Act (PBRA): On-Request Furnishing of Forms 1095-B and 1095-C: Employers and insurers are...
ACA Filing Deadlines and Updates for 6055/6056 Reporting
Employers subject to the Affordable Care Act (ACA) reporting requirements under Sections 6055 and 6056 must adhere to specific filing deadlines to ensure compliance. Below is an overview of the latest deadlines, including any extensions granted by the IRS, along with...
Employee Benefits for Private Equity Firms
In the private equity (PE) landscape, achieving operational efficiency and long-term growth often depends on navigating the complexities of organizational change. A critical yet often underestimated aspect of this process is employee change management, particularly...
Employer Aggregation Rules under the ACA
Employer aggregation rules Companies with a common owner or that are otherwise related under certain rules of section 414 of the Internal Revenue Code are generally combined and treated as a single employer for determining ALE status. If the combined number of...
Affordability Safe Harbors under the ACA
The Affordable Care Act (ACA) includes provisions requiring employers to offer affordable health insurance coverage to their employees to avoid potential penalties. To determine affordability, the ACA has established three safe harbor methods employers can use: Form...