What is Play or Pay?

What is Play or Pay?

 

Beginning January 2014, employers with 50 or more full-time employees (including full-time equivalent employees) could find themselves subject to a tax penalty under the Play or Pay rules if they do not offer full-time employees the opportunity to enroll in "minimum essential coverage" that both (a) is affordable, and (b) provides a "minimum value." Failure to comply could subject the employer to penalties of $2,000 or $3,000 per employee, depending on the situation. These penalties are triggered if one or more full-time employees obtain coverage through a public exchange and receive a premium tax credit or cost-sharing subsidy.

Oh joy…

 

Douglas Renner
Peak IP Solutions, LLC

IP Phone:  925.337.8650 x8660

 

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