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☎ (918) 663 – 9898 | Maloney-Stockton Agency 7625 E 51st ST. STE. 200 Tulsa, OK 74145

With nearly 40 years of experience serving the insurance needs of customers in

Oklahoma and the surrounding areas, Maloney Stockton Agency is your one-stop

shop for commercial, health and personal insurance coverage.

Final Employer Shared Responsibility Regulations Issued

Final Employer Shared Responsibility Regulations Issued

The Affordable Care Act (ACA) imposes a penalty on large employers that do not offer minimum essential coverage to full-time employees and their dependents. Large employers that offer this coverage may still be liable for a penalty if the coverage is unaffordable or does not provide minimum value. The ACA’s employer mandate provision is often referred to as the “employer shared responsibility” or “pay or play” rules.

On February 10, 2014, the United States Treasury Department released final regulations implementing the employer shared responsibility provisions of the ACA. The regulations are effective upon publication in the Federal Register.

Delay for Medium-sized Businesses

According to the Departments, approximately 96 percent of employers are small businesses that have fewer than 50 workers and are exempt from the employer responsibility provisions. The employer shared responsibility provisions apply only to applicable large employers that have 50 or more full-time employees. The final rules will delay implementation for medium-sized employers that are covered by the employer mandate. Applicable  large employers that have fewer than 100 full-time employees will have an additional year, until 2016, to comply with the pay or play rules.

To read the full Health Care Reform Bulletin and how it could possibly effect your business click on Final Employer Shared Responsibility Regulations Issued 2014.

For More Information on Large Employer Status on the employer shared responsibility regulations, see the most recent IRS Questions and Answers.

 

For individual health insurance quotes, please click on any of the provider links below.