Every week we will bring you some facts and new information about ObamaCare and how it may affect you and your employees.
1. If you are not enrolled in a health insurance plan by March 31, 2014, a tax penalty will be added to your tax bill. The penalty will be $95 per adult or 1% of your household income whichever is greater.
2. Open enrollment for the Health Care Exchange is only 6 month’s long. The open enrollment period is October 1, 2013 – March 31, 2014.
3. The employer mandate that would require companies with 50 or more employees to offer insurance has been delayed until 2015. If an employer does not offer coverage after January 1, 2015, they will have to pay a penalty of $2,000 per employee, per year.
4. Worried about pre-existing conditions? After January 1, 2014, you don’t need to be. All insurance carriers must accept enrollees, regardless of pre-existing conditions.
5. Do you have to purchase through the exchange? The simple answer is no. You can call us today to find out your enrollment options.