by Guest » Thu Apr 25, 2013 11:15 am
I work for a software development company. They don’t provide us with any kind health insurance. A colleague of mine (he is a knowledgeable guy) told me that the recent Obamacare law states that if an employer doesn’t provide health insurance to its employees, they will end up paying up to $2500 per employee as fine. Is he right? Where should we complaint then?
Posted: Tue Apr 30, 2013 01:35 pm Post Subject:
Yes, your employer will have to pay a penalty of $2000 for every subsidized worker employed in his company. However, he should have at least 50 employees in his organization.
Posted: Wed May 01, 2013 12:38 pm Post Subject:
Oh yes! Your employer has to cough up the payment.
Posted: Wed Jun 12, 2013 02:20 pm Post Subject:
Your employer is required to make the payment, so you're not required to worry.
Posted: Wed Jun 12, 2013 03:20 pm Post Subject:
Until January 1, 2014, none of this is true. And while it is true that certain employers may have to pay a fine beginning in 2014, it does not relieve the employee of the requirement to obtain health insurance or also be subject to a fine. Obamacare is not what the people of the US thought they were going to get.
The OP does not provide enough information for anyone above this post to have said anything about his/her employer paying a fine. If the "software development company" has too few employees, it will not be subject to a fine, and the employees will still have to find their own health insurance or face their own fine.
Posted: Thu Jun 27, 2013 12:26 am Post Subject: Penalty Under Obamacare
Of course, if you don't have insurance, you will not only pay a fine ($695 for individuals in year 1), but you won't have insurance! The amount goes up each year. If you have a health event and then wait to get the insurance, it can be too late. One emergency can bankrupt many families.
For more information on the penalty, you may wish to read: [link deleted per TOU]
Posted: Thu Jun 27, 2013 06:36 am Post Subject:
($695 for individuals in year 1)
This is incorrect. Excerpted from the commercial link which was removed above (per this website's TOU) comes the correct information:New IRC code § 5000A states the penalty as equal to or greater of the following:
2.5% of the amount by which the taxpayer’s household income for the tax year exceeds the threshold amount of income required for income tax return filing under section 6012(a) OR
$695 per uninsured adult in the household.
This penalty will be phased in from 2014 through 2016. In 2014, the penalty will only be 1% or $95 per uninsured adult. In 2015, it will be 2% or $325 per uninsured adult. In 2016, it will be the full penalty. If you are low income and can show hardship, then you may be exempt per IRS rules.
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