Affordable Care Act: What Employers with Fewer than 50 Employees Need to Know
As an employer, the number of employees you have during the last calendar year determines which parts of the health care law apply to your organization. If you are an employer with fewer than 50 full-time employees, including full-time equivalent employees, here are three things to know about how the health care law affects you.
If you offer employer-sponsored self-insured health coverage to your employees, you will use Form 1095-B, Health Coverage Information Return to report information to covered individuals about each person enrolled in coverage. The deadline for filing this form with the IRS is February 28, 2017, or March 31, 2017 if filing electronically. The deadline for furnishing this form to the covered individual is March 2, 2017, which is a 30-day extension from the original due date of January 31.
Tax Credit: You may be eligible for the small business health care tax credit if you meet all of the following conditions. You:
Small Business Health Care Tax Credit: Questions and Answers
Federal law gives a tax credit to eligible small employers who provide health care coverage to their employees. Questions and answers provide information on the credit for tax years beginning in 2014.