Large Employer Insurance Requirement
In 2015, large employers must offer employees an affordable qualified health plan. The law originally required businesses to provide insurance in 2014, but delayed the requirement one year.
These large employers have at least 50 full-time equivalent employees. This means that both part-time and full-time employees are counted. To find out more about how this number is calculated see calculating full-time employees.
An affordable qualified health plan:
- Contains at least the essential health benefits package
- Does not cost an employee more than 9.5% of their household income
- Pays at least 60% of health care expenses
These employers may be fined if they do not offer this type of plan. To find out more about the specific fines see fine specifics.