Hospitals group offers ACA penalty calculator for employers
While the individual mandate received the most attention while the Patient Protection and Affordable Care Act of 2010 was under Supreme Court review, the clauses making up the “employer mandate” are forcing employers to make difficult decisions about benefits.
To help with these complex decisions about offering coverage to employees, the New Jersey Hospital Association launched a new tool on Monday called RIPE – Reform Insurance Penalty Estimator – to help employers determine if they are at risk for penalties.
Under the law, by 2014, employers with more than 50 employees who do not offer insurance will face a penalty. Employers who do provide insurance but not meet federal requirements of affordability and “essential” coverage can also face penalties. (Caliendo, NJBIZ)