‘Play or Pay’ Delayed Until 2016 for Large Employers With Fewer Than 100 Full-Time Employees
Newly issued final rules provide guidance for large employers who are subject to the shared responsibility (“pay or play”) requirements under Health Care Reform. These employers may be liable for a penalty if they do not offer affordable health insurance that provides a minimum level of coverage to full-time employees (and their dependents), and any full-time employee receives a premium tax credit for purchasing individual coverage on the Health Insurance Marketplace(Exchange). Affected Employers
Determining Full-Time Employees
The final rules describe approaches that can be used for various circumstances, such as for employees who work variable hour schedules, seasonal employees, and employees of educational organizations. Other Key Highlights
For more information on the “pay or play” requirements, you may review the Questions and Answers made available by the Internal Revenue Service. |