Play or pay: Employer Responsibility under the Affordable Care Act
Business Tax Penalty Guide
Your result: You do not have to pay a tax penalty.
Employers with less than 50 employees are not subject to tax penalty starting January 1, 2015.
The good news is that, for a limited time, companies that employ less than 25 employees may be able to receive a tax credit of up to 50% of the cost of the insurance premiums they contribute for their employees. To qualify for this credit all employees must earn an average of less than $50,000 per year and you must purchase the plan through the state Small Business Health Options Program (SHOP). While the online implementation of the SHOP program has been delayed, you can still obtain a qualifying plan through the programs available on this site.
If you employee between 25 and 50 employees, you may be able to save money on health insurance premiums by discontinuing your employer sponsored health insurance and allowing your employees to purchase individual or family insurance through the federal marketplace. This way your employees may be able to receive a tax credit to help afford their health insurance premiums. Obviously, this may not be a desirable course of action, but it is an option if you are struggling to afford to provide health insurance to your employees. You may also be able to structure a Health Reimbursement Arrangement (HRA) to assist your employees in paying for their individual health insurance premium.
To learn more about any of these options or to apply for a qualifying plan, click the button below.
The good news is that, for a limited time, companies that employ less than 25 employees may be able to receive a tax credit of up to 50% of the cost of the insurance premiums they contribute for their employees. To qualify for this credit all employees must earn an average of less than $50,000 per year and you must purchase the plan through the state Small Business Health Options Program (SHOP). While the online implementation of the SHOP program has been delayed, you can still obtain a qualifying plan through the programs available on this site.
If you employee between 25 and 50 employees, you may be able to save money on health insurance premiums by discontinuing your employer sponsored health insurance and allowing your employees to purchase individual or family insurance through the federal marketplace. This way your employees may be able to receive a tax credit to help afford their health insurance premiums. Obviously, this may not be a desirable course of action, but it is an option if you are struggling to afford to provide health insurance to your employees. You may also be able to structure a Health Reimbursement Arrangement (HRA) to assist your employees in paying for their individual health insurance premium.
To learn more about any of these options or to apply for a qualifying plan, click the button below.
