The requirement for large employers to offer health coverage under the Affordable Care Act 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):
To find out if you may incur a penalty, please see this infographic. All penalties are assessed by the IRS and are assessed as an excise tax.
At this time, large employers are not able to purchase through HealthSource RI, our state's health insurance marketplace (also called an exchange). So you’ll continue to buy plans through a broker or directly from Blue Cross. In 2016, employers with less than 100 employees will be considered "small employers" and eligible to purchase through the Small Business Health Options Program (SHOP) through HealthSource RI. In 2017, states will have the ability to approve large employers (100 or more employees) to buy plans through the SHOP program.
Download our chart to see at-a-glance coverage changes in 2014 and beyond. The chart also includes the taxes, fees, and requirements that you may be responsible for under the Affordable Care Act.