Smith, Sullivan and Brown, P.C. February 2015

2015 Employer Mandates

Affordable Care Act

	For 2015 and after, under the Employer Shared Responsibility provisions of the Affordable Care Act, employers employing at least a certain number of employees (generally 50 full-time employees or a combination of full-time and part-time employees that is equivalent to 50 full-time employees) will be subject to Employer Shared Responsibility Provisions. If these employers do not offer affordable health coverage that provides a minimum level of coverage to its full-time employees (and their dependents) the employer may be subject to an Employer Share Responsibility penalty.
	In addition, the Affordable Care Act requires providers of health insurance, to report coverage information by filing an information return with the IRS and furnishing a statement to individuals. The information reporting requirements are first effective for coverage provided in 2015. Thus, health coverage providers will file information returns with the IRS in 2016, and will furnish statements to individuals in 2016, to report coverage information for calendar year 2015. For example, an employer that sponsors an insured health plan (i.e. a health plan that provides coverage by purchasing insurance from a health insurance carrier) will not report as the provider of health coverage. The health insurance carrier is responsible for reporting the health coverage.
	For Employers that sponsor self-insured plans, they will be responsible for reporting the health coverage, even if the employer has fewer than 50 full-time employees.
PLEASE NOTE:	Employers who are interested in an arrangement of reimbursing an employee for the employee's out-of-pocket health insurance premiums and/or medical care costs need to seek the advice of an employee benefits specialist to ensure compliance with strict and complex guidelines imposed by the Federal government. If these guidelines are not adhered to, severe penalties will be assessed to the employer.

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