Small businesses with fewer than 50 employees may be exempt from ObamaCare’s employer mandate, but they still could face fines for helping employees cover the costs of their health insurance coverage. The Internal Revenue Service (IRS) promulgated the rule against “coverage reimbursement arrangements,” which took effect on July 1.
The tax is $100 per day, per employee, or $36,500 annually for one employee, and applies to small businesses that do not offer health insurance coverage to employees, but instead offer compensation to employees to help cover the cost of their health care. To put the absurdity of this tax into content, businesses with 50 or more full-time employees who work at least 30 hours a week that fail to offer insurance coverage face a punitive $2,000 per worker tax.
“It’s the biggest penalty that no one is talking about,” says Kevin Kuhlman, policy director for the National Federation of Independent Business (NFIB).
This was the last screw you to the small business community from Cruella Sebellius just before she left HHS. It was supposed to go into effect on July 1, 2014 but they ‘delayed’ it in order to get the Democrats through the mid term elections. The ruling is not in the Obamacare law. It was simply a ‘new rule’ issued by HHS. Who needs congress? By the way, these are excise taxes, not even tax deductible. I’m dealing with this right now and it is a disaster. Forward!
The mob has better conditions on their loans. What a racket.
Now let’s hear it for all the RINOs that didn’t bother to pass a law (much less than offer one) to repeal this clusterf**k. Way to go Boehner and McConnell.
My husbands employer is small to mid size, they’re self insured and it’s a benefit they offer. They insure everyone right down to the cleaning crew at no cost to the employee. Now under Obama rules my grown ass married son that doesn’t even live in my state has to be covered, but me as a spouse doesn’t. We have to pay for my coverage.
And for being self insured and always having health ins, they’re fined per employee, per day.
What kind of treacherous slimebucket would write something like this??
Poor widdle TEA-baggers… Too bad you can’t do anything about it. Heh!
Come my third inauguration we’ll make it a point to hunt all you whiners down and throw you in w/ Kim Davis (if she is still, AHEM!…extant), POWER TO THE PEOPLE(some of them)!
OH but that’s where you are wrong dumbshit. Christians, and patriots are awake now, we tried to be nice to you progressive assholes but you are totalitarians. So enjoy the next 16 months because come 2017 we are going to give back to you 100 times what you and your Marxist president have done to us!
Come see me in person and spew that shit.
Buck ofama and his shitty obummercare. The insurance I have now is absolutely worthless and is not worth a tinkers dam. And up yours mr. smarty pants troll HJ Bounel. Is that bonel like in boner, I agree with Magnum , your days are numbered because the American people are fed up with assholes like you and your chickenshit presidunce.