One of the main issues on the mind the entrepreneur is the Affordable Care Act and its employer shared responsibility provision. This article answers the first four small business questions about the employer shared responsibility (ESR) providing
. Tip: This article contains excerpts from our new e-book "Affordable Care Act 101." download the free guide here
FAQ # 1:.? What is the employer shared responsibility provision is
responsibility as an employer providing common, also called ESR or the employer mandate, is the requirement for larger employers either provide health insurance for employees or pay a fee when / if buys employee insurance through the Marketplace subsidized health.
Due to delays the employer shared responsibility provision, many small business owners feel confused about how the requirement impact their business.
2015 is a "phase-in" year for the responsibility as an employer provision common because transition is easier for some employers with 50 to 99 full-time equivalent employees
FAQ # 2:.? If the employer has shared responsibility provision in force
, the Employer Responsibility Common provision will come into force in 2015. For 2015, the employer shared responsibility fee equal to the number of full-time employees of the employer for the month concerned (minus 80 ) to 1/12 multiplied from $ 2,000, provided that at least one full-time for this month a premium receives tax credit / grant.
If you are a larger employer, click here more about the calculation ESR fees in 2015 to read for no health insurance offer
FAQ # 3:.? What are the IRS reporting requirements for the ESR provision are
employer, subject to the employer shared responsibility determination, information will have to be to deliver on whether they are accessing full-time staff and their family members to insurance, the minimum coverage offers.
, the IRS offered requires that employers Forms 1094-C and 1095-C file. The employer must also form 1095-C to provide their full-time employees.
The output Internal Revenue Service (IRS) designs the Affordable Care Act (ACA) reporting forms large employers next year begin to report health coverage. Here are the links to the draft forms for employers:
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employers offer health insurance and Coverage (1095-C)
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credit for small employer health insurance premiums (8941)
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All control IRS design forms
FAQ # 4: When employers reserved ESR reporting requirements require information on file with the IRS?
employer, subject to the employer shared responsibility provision must provide statements to its full-time employees on or before 31 January at the end of the calendar year form 1095-C and employees.
Form 1094-C and 1095-C to 28 February are due (or 31st March, when filing electronically) for small employers after the end of the calendar year.
Questions about the employer shared responsibility? Leave a comment below.
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