Effective for months beginning after December 31, 2013, certain employers will be required to offer and contribute to their employees’ health insurance, or they will pay an annual penalty of $2,000 per full-time worker.

A large employer (defined as a business employing an average of at least 50 full-time employees during the preceding calendar year) that does not offer essential coverage for all of its full-time employees and their dependents will be required to pay a penalty.

In counting the number of employees for purposes of determining whether an employer is an applicable large employer, a full-time employee (meaning, for any month, an employee working an average of at least 30 hours or more per week) is counted as one employee, and all other employees are counted on a prorated basis.

Members of our Healthcare Group are available to assist you with the implementation of, and compliance with, the very technical new health care requirements. For more information, please contact your Sansiveri tax professional at 401-331-0500.