We are not usually labels, but when it comes to the reform of health care, an exception should be made. To comply with the Affordable Care Act (ACA), business owners must first determine if their business is large or small in the eyes of the law.
The ACA defines a company as "large" if it has 50 or more employees who work more than 30 hours per week, or 50 "full time equivalent" employees. If that is the case, then a company is required to provide health insurance coverage to their workers or face a tax penalty
There is an exception for seasonal employees. The law creates special rules where a workforce is more than 50 full-time employees for less than 0 days or four calendar months in a calendar year if more than 50 workers who have been employed for this period were seasonal employees. 0 days or four calendar months need not be consecutive.
Small businesses (less than 50 full-time workers) are effectively exempt from the Affordable Care Act. They are not required to extend health insurance benefits to their workers. If they choose to do so, they may be eligible for new tax credits for small businesses
The following formula step by step will help you to do the math to your business .:
created by GoHealthInsurance.com
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