Final health care reform regulations state that applicable large employers must satisfy certain health care coverage requirements or be liable for financial penalties. These penalties will be imposed on an applicable large employer if at least one full-time employee receives a premium tax credit or cost sharing reduction in connection with the purchase of individual coverage through the Marketplace Exchange.
On February 10, 2014 final regulations implementing the employer shared responsibility provisions of the Affordable Care Act were released. The ACA imposes a penalty on large employers with 50 or more full-time employees that do not offer coverage to full-time employees and their dependents, or to employers that offer coverage that is unaffordable or does not provide minimum value.
The final rules will delay implementation of these penalties for medium-sized employers that are covered by the employer mandate.