Get answers to some of the most pressing questions regarding the effects of Obamacare.
With its complex and ever-changing pieces, it’s no surprise that the Affordable Care Act, also known as Obamacare, is confusing for small business owners. NFIB took to Twitter this week to answer some of your questions. See the round up below.
Didn’t have a chance to participate? NFIB still wants to hear about your experience with the ACA.
.@NFIB A1: No. There are 2 exceptions: #smallbiz can reimburse retirees for indiv. plans or they can reimburse for indiv. plans for 1 member
— NFIB (@NFIB) May 13, 2015
.@NFIB A2: Yes, #smallbiz owners can give raises but it must be taxable wages. #AskNFIB #healthcare
— NFIB (@NFIB) May 13, 2015
.@NFIB A3: July 1, 2015. IRS has said practice could result in penalties of $100/day/employee. #AskNFIB
— NFIB (@NFIB) May 13, 2015
.@NFIB A4: 2015 for #smallbiz with 100+ employees. 2016 for #smallbiz with 50+ employees. #AskNFIB #healthcare
— NFIB (@NFIB) May 13, 2015
.@NFIB A5: Form 1095-C due to employees by January 2016.
Form 1094-C due to IRS by end of March 2016.
#AskNFIB #healthcare
— NFIB (@NFIB) May 13, 2015
.@NFIB A6: Employee-only portion of #healthplan premium < 9.5% of employee taxable income. #AskNFIB
— NFIB (@NFIB) May 13, 2015
.@NFIB A7: #smallbiz must provide workers “notice of coverage options” by 10/15 & “summary of benefits & coverage” during open enrollment
— NFIB (@NFIB) May 13, 2015
.@NFIB A8: New benefit mandates & new taxes/fees on #healthplans to comply with #ACA. #AskNFIB
— NFIB (@NFIB) May 13, 2015
.@NFIB A9: Nov. 1, 2015 through Feb. 1, 2016. #AskNFIB #healthcare #smallbiz
— NFIB (@NFIB) May 13, 2015
.@NFIB A10: Jan 2016-new #healthplan reqs. for #smallbiz with 50-100 employees. Jan 2018-Cadillac tax on high cost health plans begin
— NFIB (@NFIB) May 13, 2015
Hi @PimaAwards– New plan reqs &higher costs. #smallbiz must provide workers “notice of coverage options” & “summary of benefits & coverage”
— NFIB (@NFIB) May 13, 2015
