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Follow on Google News | $38K/Employee Penalty for ACA Non-Compliance:Obamacare Expert Explains How to Avoid ACA PenaltiesFor tips on how to avoid Obamacare penalties that can cost up to $38,000/employee, download Leading ACA Expert Kaya Bromley’s free ACA guide or purchase her book, “The Employer’s Guide to Obamacare”, at yourobamacareadvisors.com.
Bromley and FreedomCare Benefits, a state-of-the- “Penalty A,” a $2,000 per year, per full-time employee tax for not providing a healthcare plan; and “Catch-All Penalty,” a $100 per day, per full-time employee tax for various violations triggered by the design and administration of a health plan. These penalties will likely pile up for a year or more before businesses learn that they are not in compliance. Additionally, on Nov. 15 the federal government will be recruiting all Americans to apply for free or subsidized health insurance on the ACA exchanges. If a business’ employees apply for healthcare through these exchanges, a series of events can be triggered, some of which result in the employer being considered “non-compliant” Bromley provides these tips on how to avoid Obamacare penalties: 1. Put your plan in place before Nov. 15. 2. Implement a guaranteed, ACA-compliant strategy. 3. Document all good-faith efforts to comply with the law. 4. Get competent legal advice (and do not get it all from someone who is trying to sell you something). 5. Educate yourself on the basics of the law. “We have known this was coming and have had years to prepare. Final regulations were released in February. Arguing with the IRS that you did not know about the law will fall upon deaf ears. Ignorance of the law is no defense, especially when many planned while others buried their heads in the sand,” says Bromley. For more tips on how to avoid Obamacare penalties, download Bromley’s free ACA guide, purchase her book, “The Employer’s Guide to Obamacare”, and watch videos at http://yourobamacareadvisors.com/ End
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