1 / 5

Don’t let tax-related compliance requirements take your organization by surprise

Health care act TAX OVERVIEW – EMPLOYERS. Don’t let tax-related compliance requirements take your organization by surprise. Presented by: <<Company Name>>. The agenda. “Play or pay” provision Changes to the health care coverage credit Increased Medicare tax withholding in 2013

conroy
Download Presentation

Don’t let tax-related compliance requirements take your organization by surprise

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Health care act TAX OVERVIEW – EMPLOYERS Don’t let tax-relatedcompliance requirements takeyour organization by surprise Presented by: <<Company Name>> [Insert your logo here]

  2. The agenda • “Play or pay” provision • Changes to the health care coverage credit • Increased Medicare tax withholding in 2013 • Other changes [Insert your logo here]

  3. “PLAY OR PAY” PROVISION Could you be subject to penalties?

  4. Shared responsibility basics • Penalties can be imposed on “large” employers that don’t offer minimum essential coverage to full-time employees • Employer risks a penalty if just one full-time employee receives a premium tax credit • Under the health care act, premium tax credits are available to employees who: • Enroll in a qualified health plan through a Health Insurance Marketplace • Meet certain income requirements, and • Don’t have access to minimum essential coverage from their employer or such coverage is unaffordable or doesn’t provide minimum value TIP:Minimum essential coverage is provided by “eligible employer-sponsored plans,” which include plans offered in a state’s small or large group market and self-funded plans, but not certain limited-coverage plans, such as dental-only plans. [Insert your logo here]

  5. What is a “large” employer? • One with at least 50 full-time employees • One with a combination of full-time and part-time employees that’s “equivalent” to at least 50 full-time employees • A full-time employee is someone employed on average at least 30 hours per week • The monthly equivalent of 30 hours per week is 130 hours of service in a calendar month [Insert your logo here]

More Related