Mandatory Insurance for Employers
The requirement for large employers to offer health coverage has been pushed back to 2015. To avoid paying penalties, employers with 50 or more full-time employees or combination of full-time employees and full-time equivalent employees must offer the following to at least 95 percent of full-time employees and their dependents (children, but not spouses):
If you don’t offer coverage or your health plan doesn’t meet the requirements above, you may incur a penalty. Read more about how healthcare reform impacts large employers.
Increase in Penalty for Individuals Without Coverage
Individuals must maintain minimum essential coverage each month or pay a penalty. For 2015, the penalty increases to the greater of $325 for each adult plus $162.50 for each child, up to $975 per family, or 2 percent of household income over the tax filing threshold. Read more about coverage requirements for individuals.