Lisa Ehlers had landed her dream job.
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WHAT EMPLOYERS NEED TO KNOW
- The employer penalty applies in 2015 to employers with more than 50 full-time workers who don’t offer affordable insurance that meets minimum standards.
- Employer coverage is considered affordable if the employee’s share of the annual premium for self-only coverage is no greater than 9.5 percent of his or her annual household income.
- An employer may not know an employee’s household income, so the employer can avoid the penalty if the employee’s share of the premium for employee-only coverage doesn’t exceed 9.5 percent of their wages for that year as reported on the employee’s W-2 form.
- For employers that don’t offer insurance, the annual penalty is $2,000 per full-time employee, excluding the first 30 employees.
- An employer can face a $3,000 penalty even if it offers insurance. That can happen if the coverage would cost the employee more than 9.5 percent of his income, and if the employee opts not to buy it through the group plan but through the exchange, and then receives a credit based on income and family size.
- A health plan must be designed to pay at least 60 percent of the total cost of medical services for a standard population.
WHAT EMPLOYEES NEED TO KNOW
In Georgia, employees can use the website, HealthCare.gov, to apply for coverage, compare plans and enroll. Individuals can apply as early as Oct. 1, 2013.
Individuals can learn about types of health coverage and research questions before open enrollment begins Oct. 1, 2013. Coverage can start as soon as Jan. 1, 2014.
If someone can afford it, but doesn’t have health insurance coverage in 2014, the person may have to pay a fee. The person must also pay for all of his or her care.
The fee in 2014 is 1 percent of annual income or $95 per person for the year, whichever is higher. The fee increases every year. In 2016 it is 2.5 percent of income or $695 per person, whichever is higher.