An Employer's responsibility to offer health insurance under the Affordable Care Act depends on the number of its full time equivalent employees. A business with fewer than 50 full time equivalent employees is not required to offer health insurance; beginning in 2016, a business with 50-99 employees is, and in 2015, a business with more than 100 employees must offer insurance to 70% of its employees, which increases to 95% beginning in 2016. The uninsured can buy insurance in the Individual Health Insurance Marketplace; financial assistance may be available. Small business owners may buy health insurance for their employees through the Small Business Health Options Program ("SHOP"), for which they may receive a tax credit.
Quick Facts: The Health Insurance Marketplace is only open from November 15, 2014 to Februrary 15, 2015 unless individuals have a major change in circumstances, e.g. a job loss, the birth of a child, etc., which qualifies them for a special enrollment period. Information is available online at www.healthcare.gov/quick-guide, operated by the department of Health and Human Services; www.HealthLawAnswers.org, operated by AARP; www.NILC.org, operated by the National Immigration Law Center; www.healthcoverageguide.org, operated by the Small Business Majority; and www.chrt.org, operated by the Center for Healthcare Research and Transformation.
Individuals and the self-employed can call 800-318-2596 for information about buying insurance on the Individual Health Insurance Marketplace; small business owners can call 800-706-7893, M-Fri. 9-7 ET for information about buying insurance on the Small Business Health Options Program. The Small Business Majority provides weekly webinars on Thursdays @ 2:00 P.M.
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