Starting in 2015, employers with 100 or more full-time equivalent employees (FTEs) are required to offer minimum essential coverage (MEC) to full-time employees (those working 30 or more hours per week or 130 or more hours per month) that is affordable and meets minimum value (MV) guidelines. Failure to do so may result in a Pay or Play penalty equal to $250 per month in the event that the employee receives subsidized coverage through the public health care 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.
On February 10, 2014, final regulations implementing the employer shared responsibility provisions of the Affordable Care Act were published. These regulations contain a number of important changes and clarifications. Most notably, the requirement that all employers with 50 or more full-time equivalent employees offer health coverage to their full-time employees beginning January 2015 or pay a penalty has been delayed.