Employers that do not meet the requirements of the Patient Protection and Affordable Care Act (PPACA) need to be concerned about several potential penalties. Two significant penalties include the excise tax, which can be as much as $100 per affected individual per day, and the penalties that larger employers must pay if they do not […]
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Compliance Recap // May 2015
After a few quiet months, regulatory agencies have picked up steam, leaving employers with a significant amount of new information to digest and work through. The Internal Revenue Service (IRS) was busy updating FAQs relating to reporting under the Patient Protection and Affordable Care Act (PPACA) and setting the 2016 high deductible health plan (HDHP) […]
Read moreMid-Size Employers: Transition Relief and Community Rating
Mid-Size Employers: Transition Relief and Community Rating The employer shared responsibility (i.e., “play or pay”) requirements went into effect in 2015 for large employers only (those with 100 or more full-time or full-time-equivalent employees). Even though they generally will not be liable for penalties until 2016, mid-size employers (employers with 50 to 99 full-time or […]
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