What is Form 8941?

Mardy Gould • May 15, 2024

Comprehensive health benefits are a great way to attract and retain talented workers. However, finding affordable health benefits can be challenging for small business owners with a limited budget. One option available for small employers is the Small Business Health Care Tax Credit.

The Small Business Health Care Tax Credit subsidizes the cost of employee health insurance plan premiums, making these benefits more affordable for many business owners. However, for a small employer to claim the credit, they must calculate the amount they’re eligible for and file IRS Form 8941 along with their annual tax return 1 .

You should consult a tax professional if you need specific assistance filing Form 8941. But, this blog will provide general guidance on Form 8941, including who’s eligible to file it and how to fill it out.

Employee burnout: what it is and how to prevent it

By Mardy Gould • May 24, 2024
Employee burnout has become an epidemic in today’s modern workplace. So much so that the World Health Organization (WHO) officially recognizes it as an “occupational phenomenon.”1 While many used to consider mounting workplace stress an individual employee problem, these days, it’s become an employer’s responsibility to prevent burnout before it hurts productivity and business performance—not to mention your employees’ physical and mental health. Luckily, you can prevent burnout from affecting your workforce in several ways. This article will explore the causes and signs of employee burnout and the steps you can take to create a positive work environment where employees feel safe from toxic stress levels.

Form 720 and PCORI fee FAQs

By Mardy Gould • May 23, 2024
If you're a small business owner, you may have heard of the acronym PCORI and the fees that come with it. But what is PCORI, and how does it apply to your organization? Under the Affordable Care Act (ACA), sponsors of self-insured health plans must pay a fee to fund the federal Patient-Centered Outcomes Research Institute (PCORI). PCORI is an independent organization the ACA created to conduct research to help healthcare consumers make better decisions for their specific needs and outcomes. It also performs research related to clinical effectiveness. Employers offering a self-insured medical reimbursement health plan, such as a health reimbursement arrangement (HRA), must pay this fee by July 31 each year via Form 7201. This fee was initially set to expire in 2019, but Congress extended it through September 30, 20292, due to the Further Consolidated Appropriations Act of 20203.
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