Healthcare Reform for Large Businesses

As a large business employer, there are several areas of the Affordable Care Act that may affect you and your group plan. Learn more about healthcare reform changes relating to tax credits, grandfathering requirements and more.

How do I know if my business is considered “large?”

Most businesses are considered large under the Affordable Care Act if they have more than 50 employees.

Which insurance plans are exempt from the Affordable Care Act?

Any job-based coverage that was effective on March 23, 2010 is excused from certain Affordable Care Act requirements if the grandfathering standards outlined by the ACA were followed.

Am I required to provide my employees with health insurance?

No, the Affordable Care Act does not demand that employers provide health coverage.

However, the Employer Responsibility provision states that an employer, based on the situation, may be required to pay fines ranging from $2,000 to $3,000 if they do not provide coverage. This provision goes into effect in 2015.

According to The Department of Health and Human Services, the Employer Responsibility provision will most likely affect fewer than 2 percent of large American businesses.

For more information, visit The United States Department of Labor’s release on employer shared responsibility.

For more information on healthcare reform and your large group plan, speak with your broker or a Medical Mutual representative.