Does my employer have to provide health insurance?

Does my employer have to provide health insurance? -

The reform of health care, a common question is my employer to provide health insurance? Not necessarily. The law to reform health care, called the Affordable Care Act (ACA) requires certain employers to purchase health insurance or pay a tax penalty

Q: . Does my employer must provide health insurance

? A: from 1 January 2015, employers with more than 50 full-time equivalent (FTE) are required to provide health coverage to full-time employees, or pay a tax penalty. This is commonly called the mandate of the employer.

Employers with fewer than 50 FTE employees are not subject to these tax penalties for not offer health insurance coverage, although if your employer provides health insurance, they may be eligible to tax credits.

Even with the penalty tax, many employers of more than 50 FTE employees will calculate the cost of not providing health insurance and find it more profitable to offer an insurance solution alternative health as a defined contribution plan. For example, they can choose to send employees to their state health insurance exchanges. Employers would then provide employee reimbursement of health care to reimburse employees for some of their policy

Q:.? If my employer does not provide health insurance, should I buy health insurance

a :. in January 2014, reforming health care requires that most individuals either be covered by health insurance or pay a tax penalty

coverage may include the employer provided insurance, individual health insurance, Medicare or Medicaid. The tax penalty phases in over three years and is becoming more severe. In 2014, the penalty will be 1 percent of the annual income or $ 95, whichever is greater. In 2016, the penalty will be 2.5 percent of income or $ 695, whichever is greater. This means that if you are not covered in 2014, you will be required to pay a penalty tax when you file your taxes at the end of the year.

The total penalty for the tax year can not exceed the national average annual premium of a health insurance plan at bronze level offered by the health insurance market . health insurance plans provide coverage of evidence for their clients. Several groups are exempt from the requirement to obtain coverage or pay a penalty, including:

• People who have to pay more than 8 percent of their income for the health insurance

• people with an income below the threshold for filing taxes (in 2012, $ 9,750 for a single person and $ 27,100 for a married couple with two children)

• people who receive religious exemptions

• undocumented immigrants

• people who are incarcerated

• members of the native American tribes

If you do not have insurance and do not fall into one of these categories then you will probably pay a tax penalty.

Conclusion

In summary, Your employer must provide health insurance? Not necessarily. They pay a tax penalty for not offering health insurance depends on their size.

Editor's Note: This article was originally published in May 2013.

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