If you’re an employer with over 50FTE’s this affects you!
In July 2013, the IRS granted large employers an extra year before applying potential penalties under the employer shared responsibility provisions of the Affordable Care Act (ACA)—but there is still plenty to do right now to prepare for the 2015 season.
Large employers are required to offer health care coverage to all full-time employees or possibly face fines. Identifying which employees are full-time (those working 30 hours or more per week) is essential for all large employers – whether or not they want to play ball with the ACA rules by offering a health plan.
Penalty amounts for employers with no health plans are based on the number of full-time employees, so employers that choose to pay can’t just watch the game from the stands; they will need to engage in measuring employee hours to determine the penalty amount. And employers that plan to avoid penalties by offering health plans…
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