What do I as a business owner need to know about the Affordable Care Act (ACA)?

The ACA has several key provisions for businesses, such as:

Business with Fewer than 25 Employees:

  • Not required to provide health insurance to employees;
  • Must provide notice to employees about the availability of the on-line state health-insurance exchanges;
  • Potential tax credits for employers that do provide health insurance to employees.

Business with 50 or Fewer Full-Time-Equivalent (FTE) Employees:

  • Not required to provide health insurance to employees;
  • Must provide notice to employees about the availability of the on-line state health-insurance exchanges;
  • Eligible to purchase insurance through Small Business Health Options Program (SHOP) Exchanges.

Business with 50 or More Full-Time Equivalent (FTE) Employees:

  • Must provide notice to employees about the availability of the on-line state health-insurance exchanges;

Delayed Until Further Notice:

  • Must offer affordable health insurance that provides a minimum level of coverage to substantially all full-time-equivalent employees;
  • If affordable health insurance is not provided, employer may be responsible for an employer shared responsibility payment.

What is a FTE?

An employee who works an average of 30 or more hours per week.