The ACA has several key provisions for businesses, such as:
Business with Fewer than 25 Employees:
- Are not required to provide health insurance to employees;
- Must provide notice to employees about the availability of the on-line state health-insurance exchanges;
- Receive potential tax credits for employers that do provide health insurance to employees.
Business with 50 or Fewer Full-Time-Equivalent (FTE) Employees:
- Are not required to provide health insurance to employees;
- Must provide notice to employees about the availability of the on-line state health-insurance exchanges;
- Are 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 January 1, 2015:
- 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.
An FTE is an employee who works an average of 30 or more hours per week.