Health care law changed dramatically with the enactment of the Affordable Care Act. The new law creates shared responsibility among individuals, employers, insurers and the government in an effort to ensure that all Americans have health insurance. Under the ACA, companies with 50 or more employees are “applicable large employers” and must either provide health care coverage or pay penalties. If employers want to keep compliant so that they can avoid hefty fines and time consuming efforts to address their violations of the law, they would do well to seek out the help of lawyers in Northampton, MA who have experience in this area of law.
It is an employer’s responsibility to prepare new “information returns,” under the new health care law. Reports on information returns starting from 2015 are due in 2016.