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.
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.
Leave a Reply