Healthcare Reform Timeline

Healthcare Reform Timeline 2016

 

Increase in Penalty for Individuals Without Coverage
Individuals must maintain minimum essential coverage each month or pay a penalty. For 2016 and beyond, the penalty is the greater of $695 for each adult plus $347.50 for each child, up to $2,085 per family, or 2.5 percent of household income over the tax filing threshold. Read more about coverage requirements for individuals.

New Definition of Small Employer
Employers with less than 100 employees will be considered “small employers” and can buy health coverage through the Small Business Health Options Program (SHOP) through HealthSource RI.