Act mandating Horny sex chatbot
• In 2015, employers with more than 100 FTEs will need to cover 70% of their full-time employees.
By 2016, employers with more than 50 FTEs will need to provide coverage to “substantially all” (95%) of their full-time employees.
Less than .2% of small businesses (10,000 out of 6 million) will actually have to provide insurance to full-time employees or pay the shared responsibility fee due to Obama Care.
The caveat, of course, is that some of those companies are some of Americas largest employers, and thus we are talking millions of folks getting covered through the mandate.
If a small business has 25 or fewer full-time employees with less than ,000 per employee in average annual wages, they can apply for tax breaks of up to 50% (35% for non-profits) of their contribution to their employees’ premiums. Businesses must pay for at least 50 percent of their employees’ premiums and their worker’s average annual wages can’t be more than ,000 to qualify.
• Insurance must be purchased on the Affordable Insurance Exchange for at least two year to qualify for tax credits.
For those who do count toward the total, employers should use a reasonable method of crediting hours of service that is consistent with section 4980H of the IRS tax code.
For example, if an employer uses the days-worked equivalency for an employee who works from a.m.–p.m.
every day for 200 days, the employee must be credited with 1,600 hours of service (8 hours for each day the employee would otherwise be credited with at least one hour of service x 200 days).
Employers with fewer than 100 full-time workers (or 50 in some States) will be able to use a SHOP exchange to compare and purchase group plans for their employees.
Exchanges (marketplaces) create large pools of buyers, which offer the buying power that only large firms have had in the past.