{"id":514,"date":"2014-12-16T17:02:27","date_gmt":"2014-12-16T22:02:27","guid":{"rendered":"https:\/\/www.jwmichaels.com\/?p=476"},"modified":"2017-08-02T14:20:34","modified_gmt":"2017-08-02T14:20:34","slug":"2015-affordable-care-act","status":"publish","type":"post","link":"https:\/\/www.jwmichaels.com\/2015-affordable-care-act\/","title":{"rendered":"The 2015 Affordable Care Act"},"content":{"rendered":"

Health Insurance Updates for Employers and Employees<\/h2>\n

Putting politics and rhetoric aside, tis the season to prepare for the new 2015 Affordable Care Act requirements.<\/p>\n

For Employers<\/span><\/strong><\/h3>\n

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Health insurance concept.<\/figcaption><\/figure><\/a>On January 1, 2015, employers with 100 or more full-time equivalent employees will be required to provide qualified health care. Businesses within this size category must offer benefits to at least 70% of employees by 2015 and to at least 95% of employees by 2016.<\/p>\n

Companies with between 50 and 99 full-time equivalent employees are encouraged to meet the 2015 requirements of the Affordable Care Act, but compliance for companies that fall within this employee range will not be mandatory until 2016.<\/p>\n

Employers have specific fiduciary health care responsibilities to their employees. The cost of affordable care can be no more than 9.5% of an employee\u2019s yearly household income. Health plans meet the minimum qualifying value if its benefits cover at least 60% of medical services. Noncompliance results in a $2,000 fee per employee (with the first 30 employees fee exempt).<\/p>\n

<\/span><\/strong><\/p>\n

A press release fact sheet from the U.S. Treasury Department offers information to assist companies with the transition to the new health care requirements. Some highlights of the document are:<\/p>\n