Obama Care will cost businesses.
Businesses with fewer than 50 employees are exempt from having to provide health insurance. But their is a program set up for these businesses, their may be a time limit, I’m not sure on this part.
Each business has different penalties and requirement determined by how many employees they have and, the coverage they offer.
- SS&SS / Foter
Automatic enrollment- Employers with more than 200 employees are required to enroll new employees in their health care plan, subject to any waiting period. Employers must provide notice of employees’ right to opt out of automatic enrollment. Notice of coverage options: Employers must give employees notice about the availability of an insurance exchange.
Penalty for not providing insurance with over 50 employees that do not provide insurance must pay a penalty of $2,000 for every employee in the company if even one employee opts to obtain insurance through an exchange. However, the first 30 employees are not counted in calculation of the penalty. Example: an employer with 85 employees would pay the penalty for 55 workers, or $110,000 55 x $2.000.
Penalty for providing insurance that is “too expensive” I believe this is over 9.5% of monthly income which means if it cost the employee over this amount they can get a subsidy. Employers with more than 50 employees that do provide insurance must pay a penalty if any of their employees obtain a subsidy to help pay for insurance. The penalty equals $3,000 per worker who uses the subsidy OR $750 for every employee at the company, whichever is less.
Read Obama Care Repeating The Fraud Of 1913
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