Dear Valued Customer,

This issue of the “—————-” is focused on businesses which must cover their employees.

If your business has 50 or more employees, you are considered a “large business” under the health care law. Several important parts of the law apply to you. If you have more than 50 full-time equivalent (FTE) employees, you generally won’t be able to use the SHOP Marketplace to offer health insurance to them. Learn more about SHOP eligibility rules.

Starting in 2016, all SHOPs will be open to employers with up to 100 FTEs.

Read on to learn about the Employer Shared Responsibility Payment, reporting requirements, read detailed questions and answers from the IRS, a fact sheet from The Treasury Department, and more.

We appreciate your continued business and look forward to serving you.

Kind regards,

While no employer must offer coverage, some larger businesses may have to make a payment in 2015 or 2016.

The payment is called the Employer Shared Responsibility Payment and applies to employers of different sizes at different times. Read more below.

• If you have fewer than 50 full-time employees,you’re not subject to the Employer Shared Responsibility parts of the law any year. You may use the SHOP Marketplace to offer coverage for your employees.

The Employer Shared Responsibility Payment in 2015 or 2016

The Employer Shared Responsibility Payment applies to some businesses with more than 50 or 100 full-time employees who don’t offer insurance, or whose coverage doesn’t meet certain minimum standards.

Regulations announced February 10, 2014 have updated the following:

• which employers must make the payment
• which years some employers must make the payment
• other conditions about the payment

The Internal Revenue Service offers detailed questions and answers about the Employer Shared Responsibility Payment.

The Treasury Department has a fact sheet summarizing recent updates on the Employer Shared Responsibility Payment.

Have questions about the SHOP Marketplace for businesses with 50 or fewer employees? Call 1-800-706-7893 (TTY: 711). Hours: Monday through Friday, 9 a.m. to 7 p.m. EST. Agents and brokers helping small businesses may also use this number.

Source: HealthCare.gov, “Which businesses must cover their employees.” http://www.healthcare.gov website. Accessed December 2, 2015. https://www.healthcare.gov/do-i-have-to-offer-health-coverage-to-my-employees/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

The Employer Shared Responsibility Payment applies to some businesses with more than 50 full-time employees who don’t offer insurance, or whose coverage doesn’t meet certain minimum standards.

Regulations updated the following:

• which employers must make the payment
• which years some employers must make the payment
• other conditions about the payment

The Internal Revenue Service offers detailed questions and answers about the Employer Shared Responsibility Payment.

The Treasury Department has a fact sheet summarizing recent updates on the Employer Shared Responsibility Payment.

No employer with fewer than 50 full-time employees is subject to the Employer Shared Responsibility Payment in any year.

Source: HealthCare.gov, “The Employer Shared Responsibility Payment.” http://www.healthcare.gov website. Accessed December 2, 2015. https://www.healthcare.gov/what-is-the-employer-shared-responsibility-payment/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.

If your business has 50 or more employees, you are considered a “large business” under the health care law. Several important parts of the law apply to you.

Most large employers can’t use the SHOP Marketplace

If you have more than 50 full-time equivalent (FTE) employees, you generally won’t be able to use the SHOP Marketplace to offer health insurance to them. Learn more about SHOP eligibility rules.

Starting in 2016, all SHOPs will be open to employers with up to 100 FTEs.

The Employer Shared Responsibility Payment

The Employer Shared Responsibility Payment is a requirement under the health care law that will apply to some employers with 50 or more employees in 2016.

• The Internal Revenue Service offers detailed questions and answers about the Employer Shared Responsibility Payment.
• The Treasury Department has a fact sheet summarizing recent updates on the Employer Shared Responsibility Payment.

No employer with fewer than 50 full-time employees is subject to the Employer Shared Responsibility Payment in any year.

Reporting requirements

Under the Affordable Care Act, businesses covered by the Fair Labor Standards Act must report certain information about health insurance options to their employees.

Learn more about reporting requirements under the health care law.

Source: HealthCare.gov, “Health insurance for businesses with more than 50 employees.” http://www.healthcare.gov website. Accessed December 2, 2015. https://www.healthcare.gov/what-do-large-business-owners-need-to-know/

© Copyright 2016. All rights reserved. This content is strictly for informational purposes and although experts have prepared it, the reader should not substitute this information for professional insurance advice. If you have any questions, please consult your insurance professional before acting on any information presented. Read more.