Individuals & Families have until February 15 to enroll in a health plan for 2015. After that deadline, one must have a qualifying event to be eligible for a new health insurance policy. The penalty for 2015 is pretty steep (unlike 2014). If you choose to go without insurance for 2015, you will incur a federal income tax penalty of either 2%
Can a business with 51+ employees which offers health insurance still be penalized? The answer is YES. If an employeer offers "unaffordable" health insurance to his/her employees the company will be fined. The fine for offering unaffordable health insurance is $3,000 per employee. If you have 60 employees and are found to offer unaffordable health insurance you will see
Lately I have been asked a lot of questions regarding the fines/taxes individuals and businesses will receive for not purchasing or offering health insurance.Starting with individuals. The reality is you do not have to buy insurance. If you are currently uninsured, you can stay uninsured in 2014. The only difference being that the federal government will now