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affect_businesses_over_50

venus-holman
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affect_businesses_over_50

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  1. “Obamacare” Affect on Businesses with over 50 employeesAs of July 2, 2013: the mandate for employers to offer coverage is delayed until 2015: W-2 Reporting: The TOTAL value (employer and employee of the health insurance premiums) must appear on employees’ W-2s, even though they are still Tax-Free. You must pay all employees the same contribution level (no differentiation among classes permitted). The only differentiation can be higher contributions required from smokers (up to 50% more) or lower contributions required from individuals participating in wellness initiatives (up to 30% less).If you have at least 1 employee and revenue over $500,000:Required to educate employees about the new Healthcare Marketplace (otherwise known as “Exchanges” being set up by states and federal governments) by October 1, 2013.

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