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ACA Employer Mandate Chart 2015 vs. 2016

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Information about ACA Employer Mandate Chart 2015 vs. 2016
Business & Mgmt

Published on March 5, 2014

Author: flexiblebenefit

Source: slideshare.net

Description

Flexible Benefit Service Corporation (Flex) has prepared a comparison chart to help understand how the Affordable Care Act (ACA) Employer Mandate will be rolled out over the next two years.

Learn more about healthcare reform at: http://www.flexiblebenefit.com/healthcare-reform


The materials contained within this communication are provided for informational purposes only and do not constitute legal or tax advice.
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Employer Mandate Year 2015 2016 Applicability Employers with 100 or more employees* Employers with 50 or more employees 1. Offer Coverage to 70% of FT Employees 1. Offer Coverage to 95% of FT Employees 2. Coverage must meet minimum value and affordability guidelines 2. Coverage must meet minimum value and affordability guidelines Employees working 30 hrs/wk Employees working 30 hrs/wk 60% actuarial value 60% actuarial value Requirements to avoid penalties Who is considered full-time (FT)? What is the minimum value? When is coverage affordable? Employees pay no more than 9.5% of wages for Employees pay no more than 9.5% of wages for self-only coverage for lowest cost plan self-only coverage for lowest cost plan $2,000/yr per employee if fewer than 70% of FT employees are offered coverage (less 80) $2,000/yr per employee if fewer than 95% of FT employees are offered coverage (less 30) $3,000/yr per employee if coverage does not provide minimum value and/or is unaffordable $3,000/yr per employee if coverage does not provide minimum value and/or is unaffordable Maximum penalties *Exemption required for employers with 50-99 employees www.flexiblebenefit.com © 2014 Flexible Benefit Service Corporation. All Rights Reserved. Questions? 888-353-9178

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