Affordable Care Act 2013 Notification Requirements

Are you a small employer and don't think that you are covered by the looming health care act?  You could very well be wrong.  Even though there have been delays in much of its implementation, if a business has at least 1 employee and over $500,000 in revenue the business owner needs to notify his/her employees as to whether the business intends to offer health insurance.  There currently is no fine in place if you don't provide such a notification.

Businesses that offer health insurance use one health care act notification form.  Note that with this first form completing page 3 is optional.  Businesses that do not offer health insurance use a different health care act notification form.  Fill in the appropriate information for your business, distribute to your employees, and that will take care of your obligation for 2013.

Let us know if you have any specific questions and, as always, speak with someone about the details of your specific situation.

By

Wilmington, NC CPA