Large Businesses and Obamacare

Large businesses are defined as employers with more than 100 employees. There will be no health exchanges available for large business in Obamacare until 2017. Additionally, here are no tax credits from the IRS. After 2017, states will have the discretion to open their exchanges to large businesses.

Any business with 50 or more full time employees (those working 30 or more hours per week) will be required to provide minimum essential health coverage for their employees or pay an annual penaltyThis part of the law originally planned for 2014 will now go into effect in 2015 instead of 2014.

Financial Penalties for Large Businesses in Obamacare

Large businesses will be assessed financial fines if they

  1. Don’t offer their employees health insurance; and at least one full-time employee buys coverage on state exchange and received a government subsidy

THEN the employer will pay an annual penalty of $2,000 for each full-time employee, excluding the first 30 employees;


2.   Offer their employees health insurance; AND the insurance does NOT pay at least 60% of covered health care expenses, and full-time employees buy coverage on state exchange and receive a government subsidy; OR if any employees have to pay more than 9.5% of family income for the employer coverage, and full-time employees buy coverage on state exchange and receive a government subsidy

THEN employer will pay the lesser of $2,000 annually for each full-time employee, excluding the first   30 employees; or $3,000 annually for each full-time employee receiving a tax credit.

Large Businesses and Automatic Enrollment

Companies with more than 200 employees will be required to automatically enroll their employees in the company’s health insurance plan. However, employees are free to disenroll and purchase their own private insurance if they are not satisfied with their employer’s plan.

Let Liberty Medicare help you to get coverage through the Health Insurance Marketplace

Liberty Medicare is here to help you learn about Marketplaces and assist with eligibility determination for enrollment in a Qualified Health Plan (QHP) and for insurance affordability programs, which include Medicaid, CHIP, premium tax credit, and cost-sharing reductions. We will help you to compare plans, and enroll in coverage. All of our services are offered to you at no cost.

Liberty Medicare represents many well-known Health Insurance Marketplace providers in Delaware, Illinois, Maryland, New Jersey, Ohio, Pennsylvania, and Virginia.  Learn more about all of the benefits of working with Liberty Medicare.

If you are considering buying insurance in the Health Insurance Marketplace, let us guide you. To see real quotes from insurance providers visit Federal or State Marketplace, fill out our Individual Health Quote form, or give us a call at 877-657-7477.