The ACA Employer Mandate
The Affordable Care Act (ACA) requires that everyone have qualified health insurance. Individuals can have coverage through an employer paid policy or through an individual policy. In any case, non-compliance of the ACA may result in a tax penalty for employers. How much is the penalty? For an example, read below.
Penalty: You may pay a penalty if you have 50 or more full-time equivalent employees and do not offer health coverage to them. The penalty will apply when at least one employee receives a premium tax credit in the exchange. As a result, your penalty will be $2,000 per year multiplied by the number of full-time employees, and excludes the first 30 employees. The penalty is increased each year by the growth in insurance premiums.