- Mid-sized companies (50-99 full-time employees)now have until 2016, one extra year, to provide affordable coverage for employees under the ACA.
- Larger companies (100+ employees) must offer affordable coverage to 70% of their workers, rather than 95%, by 2015. The 95% threshold goes into effect in 2016.
- Small companies (less than 50 employees), are not subject to the employer mandate of the ACA.
- This delay does NOT impact the requirement of individuals to obtain insurance this year, whether their employer offers it or not.
- Do ALL of your employees count toward the head count?
- Do you know what the penalties are?
- Do you know what the threshold is for % of individual employee income vs. insurance premiums?
- Employer certification for less than 100 workers…what does this mean?
- Volunteers and seasonal workers, employed for 6 months or less, do NOT count toward headcount for employer coverage.
- Teachers and other school employees DO count toward headcount for employer coverage.
- Companies that do NOT provide insurance coverage to eligible employees will be fined $2000 per employee.
- Employers will be subject to a $3000 penalty (per employee) if they do NOT provide affordable coverage AND their employee purchases a subsidized plan from the individual federal or state healthcare exchange.
- Employers must certify they have not fired workers (to fall under 100 or less employees) in order to qualify for the 2016 delay.
- Employers must also certify that they will not drop health insurance plans that they already offer.
- Affordable insurance definition: a worker does not have to spend more than 9.5% of his/her income on premiums for employee-only coverage.
- ACA does not take into consideration affordable coverage for an employee’s family.
FosterThomas HR specialists are here to listen and help. Contact us today to help you navigate the ever-changing healthcare and employee benefit landscape.
[btn href=”http://fosterthomas.com/contact-2/” color=”blue” target=”_self”]Contact FosterThomas HR[/btn]
[btn href=”http://fosterthomas.com/healthcare-reform-news/” color=”blue” target=”_self”]Healthcare Reform News[/btn]
WATCH A VIDEO – SMALL GROUP OR LARGE GROUP HEALTHCARE REFORM TRAINING
[btn href=”http://www.fosterthomas.com/healthcare-reform-small-group-training/” color=”blue” target=”_self”]Small Group/Watch Video[/btn]
[btn href=”http://fosterthomas.com/healthcare-reform-large-group-training/” color=”blue” target=”_self”]Large Group/Watch Video[/btn]
ADDITIONAL BLOGS RELATED TO THIS SUBJECT (Click on any link below)