So not only does affordability barely increase while rates are rising, the penalties for failure to comply have also increased, just as we get started. For calendar year 2016, Penalty A (failure to provide coverage at all) is $180 per month ($2,160 per year) multiplied by the number of full time employees less 30. For Penalty B, which concerns offering coverage that does not meet minimum standards or is unaffordable, the penalty is $270 per month ($3,240 per year).
New penalty amounts – just when you thought it was safe
February 24, 2016
