The Patient Protection and Affordable Care Act, commonly referred to as the Affordable Care Act (ACA) or Obamacare, was enacted in March 2010 and has been implemented in phases during the past several years. Several ACA requirements governing health insurance policies were put into effect almost immediately. However, various regulations were enacted that postponed the mandate for employers with 50 to 99 full-time employees to provide health insurance to their employees until Jan. 1, 2016. The postponements have now ended.
Following is a summary of some of the requirements imposed on employers with 50 or more employees as of Jan. 1, 2016. If your company falls within this category of employers, you need to be aware of your responsibilities under the law.
Summary of requirements
Beginning this month, the employer mandate rules require employers who have 50 or more full-time equivalent employees (FTEs) to offer health insurance to these employees or potentially pay fines. The rules took effect Jan. 1, 2015, for employers with 100 or more FTEs. (See "How to calculate FTEs," for more information.)