Nearly everyone’s health coverage is highly subsidized (via tax breaks, if not credits). The group that costs tax payers the most money in healthcare is employees.
Employers can only reimburse group health plans except in very specific instances (such as if they have one employee).
You can use a HRA to pay for health premiums, but an employer can’t fund a HRA to reimburse individual coverage.
You should complete Part III of 1095-C ONLY if the employer offers employer-sponsored self-insured health coverage in which the employee or other individual enrolled.
If you work, but aren’t offered coverage through your employer, you can still get an ObamaCare Marketplace plan with cost assistance.
Under ObamaCare full-time is defined as working an average of 30 hours a week or more or 130 hours a month in a measurement period between 3 and 12 months.
A firm with ten or less employees doesn’t have to offer health coverage, but can get tax breaks of up to 50% of an employees premium. The ACA aims to help small businesses, not hurt them.
You can decline employer health insurance (it’s called a waiver of coverage), but you won’t be able to get cost assistance through ObamaCare or dependent coverage through the employer plan if coverage was offered.
Worker’s comp doesn’t counts toward ObamaCare subsidy eligibility, as it’s not taxable. You can switch to an ObamaCare plan when worker’s comp ends.
If you are a small business with ten or less employees you can either not offer health coverage, or get tax credits for up to 50% of employee premium costs.
Typically when switching employers you’ll need to give up the group health plan you are on and switch to a plan the new employer offers.
The waiting period for health insurance through an employer is a maximum of 90 days. The exact waiting period is at the discretion of the employer.
It’s legal for your employer to cut back your hours to avoid offering coverage, but you can use the marketplace to get cost assistance.
Small businesses with 10 or less employees don’t owe the fee, but could qualify for tax credits for up to 50% of employee premiums.
If an employer has to offer coverage under the employer mandate they must offer coverage to 95% of full-time equivalents, there is no exception.
We haven’t found any information pertaining to what paper stock 1095-C’s should be printed on on the IRS site or the instructions for Forms 1094-C and 1095-C.
The employer mandate is primarily based on full-time equivalent hours, that counts part-time hours plus full-time employees. Every 30 part-time ours counts as one full-time equivalent.
There are a number of measurement periods an employer can use and methods of accrediting hours that allow employers to deal with termination, new hires, and re-hires. This allows employers to accurately address full-time and FTE employees in a number of common and uncommon situations.
When calculating the fee for the employer mandate you would subtract 30 full-time employees from full-time employees (with each 30 FTE hours counting as one employee for purposes of the mandate).
Measurement periods are used by employers to determine full-time status for new-hires and existing employees in regard offering health coverage under the ACA’s employer mandate.
If an employee works at least an average of 30 hours a week, or 130 hours a month, they are considered full-time and large employers must offer health insurance to them under the law.
If a dependent has access to affordable employer sponsored coverage they can’t get ObamaCare’s cost assistance, but can qualify for Medicaid / CHIP.
If the cheapest employer plan available to you is 9.56% of MAGI for self only coverage you can get ObamaCare’s cost assistance.
If an employer plan would cost more than 9.5% of household MAGI for self only coverage, after employer contribution, then it qualifies you for ACA coverage.
Employers who reimburse employees for individual non-group health plans face a $100 a day or $36,500 per year, per employee excise tax. This rule applies to all employers, but the fine itself is only levied on those who have to comply with ObamaCare’s mandate (firms with 50 or more full-time equivalent employees).