Beginning in 2014, the Affordable Care Act (ACA) imposes “pay or play” requirements on large employers. Under these “pay or play” requirements, large employers that do not offer health coverage to their full-time employees and their dependents, or that offer coverage that is either unaffordable or does not provide minimum value, may be subject to a penalty. This penalty is also referred to as a “shared responsibility payment.”
Source: Internal Revenue Service
If you’d like to learn more about this topic, please contact us at https://gcgfinancial.com/contact/.
This article is provided by GCG Financial, LLC. It is to be used for informational purposes only and is not intended to replace the advice of an insurance professional. Visit us at https://gcgfinancial.com. © 2011-2014 Zywave, Inc. All rights reserved. This information is for general informational purposes only. While we have attempted to provide current, accurate and clearly expressed information, this information is provided “as is” and GCG makes no representations or warranties regarding its accuracy or completeness. The information provided should not be construed as legal or tax advice or as a recommendation of any kind. Users should seek professional advice from their own attorneys and tax and benefit plan advisors with respect to their individual circumstances and needs.