Janemarie Mulvey

Small businesses of all sizes will be impacted by the Affordable Care Act (ACA) in 2016. While employers with less than 50 employees (including full-time equivalents) are not subject to penalties, there are tax credits available if they provide health insurance coverage to their workforce. The problem is that these tax credits are limited and the insurance they provide must meet stricter requirements as compared to their larger counterparts. In addition, individual penalties on uninsured workers employed by small businesses not providing coverage, will more than double in 2016. For employers with 50 or more employees, last year was a transition year with respect to potential employer penalties and enforcement of the new IRS reporting requirements. In 2016, much of this “transition relief” will disappear: • Firms with 50 to 99 employees (FTEs) will now be subject to potential penalties for not providing adequate and affordable coverage • Dependents must be offered coverage • Methodologies to measure full-time status of variable hour workers must be in place • Fines for incorrect 1095-C and 1094-C information reporting will be fully enforced In addition, certain employers in states that did not expand their Medicaid programs will have a higher likelihood of penalties. Her seminars will detail the 2016 ACA changes for your company and help you develop strategies to minimize potential penalties and fines. The webinar will wrap-up with implications of 2016 Presidential and Congressional elections on future ACA changes.