A Simpler Way to Apply for Health Care

ngoriel — Tue, 07 May 2013 17:38:42 +0000

Note: This blog is by Kathleen Sebelius, Secretary of Health and Human Services and first appeared at Healthcare.gov on April 30.

Today, we take one more step toward meeting the promise of helping millions of Americans access quality, affordable health coverage.

We have finalized the application you can complete later this year to learn what health insurance programs you are eligible for and the discounts to help pay for it. Starting in October, it will be the one application you can use to apply for the new Health Insurance Marketplace, Medicaid, the Children’s Health Insurance Program, and tax credits that will help pay for premiums.

I’m also pleased to say the application has been simplified and significantly shortened. The application for individuals is three pages, and the application for families is reduced by two-thirds, to seven pages. This is much shorter than industry standards for health insurance applications today.

Whether you choose to use this application to apply for coverage online, by phone, or on paper, the Health Insurance Marketplace will give you better options than they have today – with one destination to apply and many resources to get help. In-person counselors and a toll free phone line will be available to help you through every step of the process.

The online application that will go live on Healthcare.gov when the Health Insurance Marketplace opens for enrollment on October 1, can be found here: http://cciio.cms.gov/resources/other/index.html#hie

You can sign up to learn more and get ready to enroll at signup.healthcare.gov.

7 Key Terms in the Affordable Care Act that Small Businesses Should Know

Meredith K. Olafson — Tue, 23 Apr 2013 23:47:02 +0000

The Affordable Care Act includes new health care reform terms used to describe parts of the law that affect small business. Understanding what these terms mean can help both self-employed individuals and small employers better navigate the law and take advantage of reforms that are helping to lower premium costs and increase access to quality, affordable health insurance.

Here are seven terms in the Affordable Care Act that small businesses should know.

1. Affordable Insurance Exchange

Also known as the health insurance “Marketplace,” the Affordable Insurance Exchange is a new transparent, competitive insurance marketplace where individuals and small businesses can purchase affordable and qualified health benefit plans. The Marketplace for small employers, known as the Small Business Health Options Program (SHOP), and the Individual Marketplace for consumers and those who are self-employed, will open in all states on January 1, 2014. Enrollment begins on October 1, 2013. To get the latest updates on enrollment, sign up for email and text alerts today.

2. Employer Shared Responsibility

Although employers are not required to provide health coverage to their employees under the Affordable Care Act, employers of a certain size will be subject to the Employer Shared Responsibility provision of the law. Under this provision, beginning in 2014, business owners with at least 50 full-time or full-time equivalent (FTE) employees that do not offer health coverage to their full-time employees may be subject to a shared responsibility payment under the health care law. A full-time employee is generally one who is employed an average of 30 or more hours per week. Businesses with fewer than 50 full-time or FTE employees are generally not affected by these provisions. To assist you, the IRS has developed a helpful set of Q&As.

3. Essential Health Benefits

The Affordable Care Act ensures that health plans offered in the individual and small group markets, both inside and outside of the health insurance Marketplace, offer a comprehensive package of items and services, known as essential health benefits. Essential health benefits must include services within at least ten core categories, among them emergency services; maternity and newborn care; prescription drugs; and preventive and wellness services. For more information on these requirements, visit healthcare.gov.

4. Individual Shared Responsibility

The Individual Shared Responsibility provision of the law applies to the self-employed and requires that each individual, beginning in January 2014, have basic health insurance coverage (known as minimum essential coverage) for each month, qualify for an exemption, or make a payment when filing a federal income tax return starting in 2015. Individuals will not have to make a payment under these rules if coverage is unaffordable, you spend less than three consecutive months without coverage, or you qualify for an exemption for several other reasons, including hardship and religious beliefs. To learn more, refer to this Fact Sheet from the U.S. Department of Treasury, as well as these Q&As, or consult with your tax professional.

5. Premium Tax Credits

When enrollment through the health insurance Marketplace starts in October 2013, consumers and self-employed individuals may be eligible for a new kind of tax credit you can use right away to lower what you pay for your monthly health plan premiums. Individuals who qualify can take the premium tax credit in the form of advance payments to lower their monthly health plan premiums starting in 2014, which can help make insurance more affordable. The value of the tax credit you’re eligible for depends on how much income your or your family expects to earn. Visit healthcare.gov to learn more.

6. Small Business Health Care Tax Credits

Although the Affordable Care Act does not require that businesses provide health insurance, it does offer tax credits for eligible small businesses that choose to provide insurance to their employees for the first time, or maintain the coverage they already have. To qualify for a small business health care tax credit of up to 35%, you must have fewer than 25 full-time equivalent employees, pay average annual wages below $50,000, and contribute 50% or more toward your employees’ self-only health insurance premiums. In 2014, this tax credit goes up to 50% and is available to qualified small businesses that purchase coverage in the Small Business Health Options Program (SHOP) Marketplace.

7. Wellness Programs

A wellness program is defined as a program intended to improve and promote health and fitness that is typically offered through the workplace, although insurance plans can offer them directly to their enrollees. The program allows employers or plans to offer employees premium discounts, cash rewards, gym memberships, and other incentives to participate. The Affordable Care Act creates new incentives to promote employer wellness programs and encourage opportunities to support healthier workplaces. To learn more, visit healthcare.gov.

For more information and an extensive list of key terms under the health care law, consult this glossary provided by the U.S. Department of Health and Human Services and visit www.healthcare.gov.

Tax Season Savings! Reminder: How to Claim the Small Business Health Care Tax Credit

Caron_Beesley — Mon, 08 Apr 2013 11:41:53 +0000

One of the ways in which the Affordable Care Act helps bring down costs for small employers is through the tax credit available to eligible small businesses that provide health care insurance to their employees. The credit significantly offsets the cost of providing insurance and with the 2012 tax filing deadline fast approaching, you don’t want to let this valuable tax break pass you by. Here’s what you need to know about eligibility and how to claim the credit:

What is the Small Business Health Care Tax Credit?

Currently the maximum tax credit is 35 percent for small business employers and 25 percent for small tax-exempt employers (e.g., charities and non-profits). This percentage applies to tax years 2010 through 2013. Even better – in 2014 the credit will increase to 50 percent for eligible small business employers and to 35 percent for tax-exempt employers through the new Small Business Health Options Program (SHOP) Marketplaces (also known as Exchanges).

The credit can also be carried back or forward to other tax years. Also, since the amount of the health insurance premium payments are more than the total credit, eligible small businesses can still claim a business expense deduction for the premiums in excess of the credit. That’s both a credit and a deduction for employee premium payments.

So what does this mean for you? The IRS website offers some examples of how the credit works in a variety of circumstances.

Who Qualifies for the Small Business Health Care Tax Credit?

To qualify for the credit, you must meet the following criteria:

You must cover at least 50 percent of the cost of single (not family) health care coverage for each of your employees
You must have fewer than 25 full-time equivalent employees (two half-time workers count as one full-timer)
Those employees must have average wages of less than $50,000 a year

To help determine whether you qualify for the credit, follow this step-by-step guide from the IRS.

How to Claim the Credit

First you’ll need to calculate the credit, use IRS Form 8941 to help you with this step. Then include the credit amount as part of the general business credit on your income tax return. Remember, you may be able to carry the credit back or forward. Talk to your tax advisor for more assistance.

A Healthy Choice For America’s Small Businesses

Meredith K. Olafson — Fri, 05 Apr 2013 15:58:07 +0000

Small businesses are the backbone of our communities. And, in an economy where small businesses create two-thirds of jobs, owners and employees deserve a health insurance market with fairer prices, better choices, and greater certainty. With the implementation of the Affordable Care Act, that market is on its way.

In recent years, the number one concern for millions of small business owners has been health care. Because they had less bargaining power, small businesses paid an average of 18% more for the same health insurance plan offered to their bigger competitors.

As America’s economy continues to get stronger, small businesses across the country are playing a critical role in creating jobs, driving innovation and fostering economic growth. Now, more than ever, they need every tool available to help their businesses grow and thrive—including a way to give their employees access to quality, affordable health insurance.

In 2014, employers will be able to choose a plan through a new Health Insurance Marketplace and in 2015 and beyond, employers will be able to let their employees choose from a number of plans.

Marketplaces

Beginning in 2014, small business owners will have access to a Marketplace—which opens for enrollment on October 1st—that will allow them to make side-by-side comparisons to find a plan that fits their budget and that’s right for their businesses and employees.

Each Marketplace will operate a Small Business Health Options Program, or SHOP, focused just on small businesses, where employers will be able to choose from a range of affordable plans to offer their employees. In 2014, employers will be able to choose a plan, from a variety of Marketplace options, to offer their employees. In States like California in 2014 and in all States starting in 2015, employers will be able to choose a variety of plans to offer to their employees—empowering each employee to choose the plan that best suits his or her needs.

Although we have heard some claims that the opening of our SHOP marketplaces will be delayed, this is not the case—these marketplaces will open for enrollment, as planned, on the first of October.

With SHOP, every small business owner will be able to:

Access a single place to learn about health insurance and get accurate information on different plans;
Make apples-to-apples comparisons of the prices and benefits of private insurance plans for their employees; and,
Use their existing insurance broker to access the SHOP, or shop for plans themselves, without a broker—choosing a plan that works for their budget, their business, and their employees.

You can learn more about the Marketplaces by visiting www.HealthCare.gov.

Tax Credits

Small businesses are also seeing savings thanks to new tax credits available to help them cover their employees.

Many small businesses with fewer than 25 employees have already received a tax credit of up to 35% of their health insurance costs. And beginning in 2014, this tax credit will go up to 50%.

Increased Transparency

Insurance companies must now publicly justify every rate increase of 10% or more, which has led to a sharp decline in double-digit rate hikes. The proportion of double-digit rate hike requests plummeted from 75% in 2010 to 14% so far in 2013. Starting in 2014, insurers will have to transparently report every proposed rate increase, even if it’s a 1% bump.

Additional rules require insurers to spend at least 80% of small employer premium dollars on employees’ actual health benefits, instead of the insurer’s own administrative costs. These limits, along with those in the individual market, have already resulted in more than $1 billion being returned to business owners and other consumers.

By making the health insurance market work better for America’s small businesses, the Affordable Care Act will help our small business owners and entrepreneurs get back to the business of being in business, and focus on what they do best: delivering great products and services, creating jobs, and growing our economy.

Affordable Care Act, Jobs, and Employer-Sponsored Insurance: A Look at the Evidence

ngoriel — Tue, 02 Apr 2013 23:46:30 +0000

Note: This article is by Kathleen Sebelius, Secretary of Health and Human Services and was first published on the official blog of healthcare.gov on March 15, 2013.

Since the Affordable Care Act became law in 2010, health care cost growth has been lower than in the past – and lower than was projected when the law passed almost three years ago.

Private health insurance premium growth per person was slower than overall economic growth in 2011, and a new survey by Towers Watson/National Business Group on Health found that the growth in employers’ costs for employee health benefits in 2012 was at its lowest in 15 years.

Also, a recent indepth analysis by USA Today found that, “cost-saving measures under the health care law appear to be keeping medical prices flat.”

But ever since the health care law was debated in Congress, we have seen a lot of misinformation, which often leads to misunderstanding of the law itself and how it benefits consumers and businesses, both large and small.

For example, back in October 2010, the Beige Book from the Federal Reserve reported that some employers anticipated increased costs of employee benefits immediately as a result of health care reform, and last week’sBeige Book has been cited by some long-time critics as suggesting jobs are not being created because of employers’ uncertainty about how the law will affect them.

However, when assessing the impact on labor markets, there is both analytical and anecdotal evidence that tells the real story. For example, the Congressional Budget Office (CBO) projected that the reduction in labor would be minimal—at roughly half a percent—and would result almost exclusively from employees deciding to retire early or voluntarily work fewer hours.

There is also a real-life example of how a similar law affected the labor market. The experience in Massachusetts is consistent with the CBO projections. Studies found no negative impact on the labor force in the State after it implemented similar reforms in 2006. In fact, there may have been a shift toward full-time work as workers sought to gain access to their employers’ plans to avoid the individual responsibility penalty in the State.

And, last week’s job report suggests that private job growth is strong. The economy has added private sector jobs for 36 straight months, for a total of nearly 6.4 million jobs during that period. The service sector – the source of many of the questions about the health care law – led the way in monthly job creation in February.

In addition, some initial statements made by CEOs about scaling back full-time workers have now been reversed. For example, the CEOs of chains such as Applebee’s and Papa John’s Pizza have called their earlier statements about reducing hours premature. The CEO of Darden, owner of chains like the Olive Garden, stated: “As we think about healthcare reform, while many of the Patient Protection and Affordable Care Act’s rules and regulations have yet to be finalized, we are pleased we know enough at this point to make firm and hopefully reassuring commitments to our full-time employees.”

Over time, many provisions of the health care law will work to create a more efficient, higher quality health care system and slow the growth of health care. This is not just good for the health system, but it is good for American jobs and the economy.

Self-Employed? Learn What the Affordable Care Act Means for You

Meredith K. Olafson — Tue, 19 Mar 2013 16:52:06 +0000

Many of the provisions of the Affordable Care Act affect small businesses differently depending on their size. For self-employed individuals in particular, there are new options for health coverage and other changes under the health care law that will directly affect you in the coming months.

New Options for Health Coverage through the Affordable Insurance Marketplaces

Under the Affordable Care Act, self-employed business owners now have more options than ever to find affordable health coverage. Beginning in January 2014, self-employed individuals and other consumers will be able to purchase their insurance through new Health Insurance Marketplaces (also referred to as Exchanges).

Health insurance plans offered in these new insurance Marketplaces will offer a core package of benefits, known as “essential health benefits.” The plans may vary according to the percentage of costs the health plan covers, or “metal levels”: 60 percent for a bronze plan, 70 percent for a silver plan, 80 percent for a gold plan, and 90 percent coverage for a platinum plan. Issuers may offer catastrophic-only coverage, which includes free prevention and several primary care visits, to young adults among others.

Self-employed individuals may qualify for premium tax credits and cost-sharing reductions on a sliding scale, based on income, to purchase coverage in the Marketplace. Increased access to quality, affordable health care will make it easier for potential entrepreneurs to go out on their own instead of staying at larger firms simply because of "job lock” or the lack of access to affordable insurance outside of work.

For more information on individual tax credits offered through the Marketplaces and to stay connected with the latest information visit healthcare.gov.

Find Insurance Options Today

To find an insurance plan that meets your needs today, check out the U.S. Department of Health and Human Services (HHS) insurance finder tool. By answering just a few simple questions, you’ll be able to locate health insurance plans in your state and explore whether there are local facilities in your area that provide free or reduced-cost health care.

To learn more about health insurance available to self-employed individuals, visit healthcare.gov.

New Insurance Coverage Requirements: Individual Shared Responsibility

The Individual Shared Responsibility provisions of the Affordable Care Act call for each individual, beginning in 2014, to have:

Basic health insurance coverage (known as minimum essential coverage) for each month,
Qualify for an exemption, or
Make an Individual Shared Responsibility payment when filing a federal income tax return starting in 2015.

Minimum essential coverage includes employer-sponsored coverage, coverage purchased in the individual market, Medicare, Medicaid coverage, Children's Health Insurance Program (CHIP) coverage, veteran’s health coverage, TRICARE, and others as identified by the U.S. Department of Health and Human Services.

Individuals will not have to make a payment under the Individual Shared Responsibility provisions if:

Coverage is unaffordable
They spend less than three consecutive months without coverage
They qualify for an exemption for several other reasons, including hardship and religious beliefs.

To learn what Individual Shared Responsibility requirements and exemptions may apply to you, refer to this Fact Sheet from the U.S. Department of Treasury, as well as these helpful Q&As from the Internal Revenue Service, or consult with your tax professional.

For more information about other provisions affecting self-employed business owners under the Affordable Care Act, go to sba.gov/healthcare.

How to Take Advantage of the Small Business Health Care Tax Credit

Meredith K. Olafson — Tue, 05 Mar 2013 17:19:13 +0000

As the tax filing deadline approaches, we know that many small business owners are looking for ways to save money as they prepare to file their tax returns. Although the Affordable Care Act does not require that businesses provide health insurance, it does offer tax credits for eligible small businesses that choose to provide insurance to their employees for the first time, or maintain the coverage they already have.

Does My Business Qualify for the Health Care Tax Credit?

Through 2013, to qualify for a small business tax credit of up to 35% (up to 25% for non-profits) of your premium contributions, you must have all of these criteria:

Fewer than 25 full-time equivalent employees
Pay average annual wages below $50,000
Contribute 50% or more toward your employees’ self-only health insurance premiums

Beginning in 2014, this tax credit increases to 50% (35% for non-profits) and will be available to small businesses who meet the criteria listed above and who purchase coverage through the new Small Business Health Options Program (SHOP) Marketplaces (also known as Exchanges). This enhanced credit can be claimed for any two consecutive taxable years beginning in 2014 (or beginning in a later year) through the SHOP.

If you need assistance determining whether your small business or tax exempt organization qualifies for the credit, the IRS offers a helpful step-by-step guide.

Who Will the Small Business Tax Credit Help Most?

While any business meeting the above standards may be eligible to receive a tax credit of up to 35% (25% for non-profits), the Small Business Health Care Tax Credit works on a sliding scale and is specifically targeted for those businesses with low- and moderate-income workers.

For this reason, to qualify for the maximum small business tax credit, you must contribute at least 50% toward your employees’ self-only premium costs and meet the following two standards:

10 or fewer full-time employees
Annual average wages at or below $25,000

How Do I Claim the Tax Credit?

Once you’ve determined that you qualify for the credit, your tax professional and the IRS can help guide you through the necessary steps to claim the credit which include:

Check with your tax professional; even if you are a small business employer who did not owe tax during the year, you may be able to carry the credit back or forward to other tax years. And if you are a tax-exempt employer, you may be eligible for a refundable credit.

Use Form 8941, Credit for Small Employer Health Insurance Premiums, to calculate the credit. It’s also important to know that eligible small employers can still claim a business expense deduction for the remainder of their premium contributions.

This is a federal tax credit. Check to see if your state has additional health care tax credits available to small employers.

More information about the Small Business Health Care Tax Credit is available from the IRS. You can also refer to IRS’s Questions and Answers for more details about the credit.

Myth vs. Fact- Myth #1: All Businesses Will Be Required to Provide Health Insurance to All of Their Employees

Meredith K. Olafson — Wed, 20 Feb 2013 21:00:45 +0000

As a business owner, it’s important to understand how the Affordable Care Act can affect your business. However, with so many misconceptions about how the Affordable Care Act works, this can be difficult. To clarify the myths versus facts, we’re launching a new blog series called “Myth vs. Fact: The Affordable Care Act and Small Business”.

This blog covers one of the most common myths we’ve seen out there: All businesses will be required to provide health insurance to all of their employees.

Fact: Employers are not required to provide coverage to their employees under the Affordable Care Act. However, starting in 2014, some businesses that do not offer health coverage to their full-time employees may be subject to a shared responsibility payment under the health care law.

How do I know if I may be subject to an Employer Shared Responsibility Payment?

Businesses with 50 or more full-time or full-time equivalent (FTE) employees that do not offer affordable health insurance that provides a minimum level of coverage to their full-time employees (and dependent children under the age of 26 starting in 2015) may be subject to a shared responsibility payment if at least one of their full-time employees receives a premium tax credit in an Affordable Insurance Exchange, or Marketplace. For the purposes of these provisions, a full-time employee is one who is employed an average of at least 30 hours per week.

Businesses will not be affected by these provisions if they already offer affordable health coverage that provides a minimum level of coverage to their full-time employees, which is the vast majority of these businesses.

Businesses with fewer than 50 full-time or FTE employees are generally not affected by these provisions. However, it’s important to know that if companies have a common owner or are otherwise related, their total combined number of employees is used to determine whether each separate company is subject to these provisions — even if none of the member companies individually employ 50 or more full-time or FTE employees.

How can I find out if I meet the threshold number of 50 or more full-time or FTE employees?

To assist employers, the IRS has developed a helpful set of Q&As on the Employer Shared Responsibility provisions. The IRS has also issued a set of proposed rules relating to the Employer Shared Responsibility provisions, and is accepting written or electronic comments by or before March 18, 2013.

Online Tools to Help You Find and Price Small Business Health Care Insurance Options

Caron_Beesley — Tue, 05 Feb 2013 12:44:04 +0000

We all have questions about the Affordable Care Act, whether it's deciphering facts from myths or trying to understand what your options for health care coverage are now and in the future.

As small business owners, getting the right information from a credible resource is critical. One new tool is the U.S. Small Business Administration’s health care web page, www.sba.gov/healthcare, dedicated to educating small business owners about the Affordable Care Act. The site is a gateway for small businesses connecting them with information provided by SBA’s federal partners responsible for implementing the law, including the U.S. Department of Health and Human Services (HHS).

HHS’s web portal – Healthcare.gov – is another valuable resource that provides information and tools to help individuals and employers understand how the Affordable Care Act will impact them.

The site also aims to make comparison shopping for health insurance a whole lot easier, using basic personalization features that help you determine plan options, pricing information and eligibility.

Here’s a breakdown of some of the tools and features that you can find at Healthcare.gov.

Understand the Affordable Care Act as a Small Business Owner

What does the health care law mean to you? Check out these resources that explain the key provisions of the law plus an overview of what is changing and when.

For a clear overview of how the law impacts small businesses, the Small Businesses and the Affordable Care Act guide breaks down the top things you need to know, including information about the following:

The Small Business Tax Credit and your eligibility to claim it.
Affordable Insurance Marketplaces, known as the Small Business Health Options Program (SHOP), will open on January 1, 2014 and give small employers buying power—similar to what large businesses have to get better choices and lower prices. The SHOP Marketplaces will work with new insurance reforms and tax credits provided by the Affordable Care Act to help lower barriers to offering health insurance that small employers face. Visit Healthcare.gov’s small business landing page for the latest information on SHOP, and review the get-ready checklist for small business owners. Enrollment in SHOP begins on October 1, 2013.

This useful Small Business Q&A also helps you understand your rights and responsibilities as a small business owner.

Find Healthcare Insurance Options for Your Small Business

Looking for insurance for yourself or your employees? Healthcare.gov’s Insurance Finder organizes and presents information and pricing collected from insurers to help you better understand your options. Enter some basic data and the tool will filter your options accordingly.

Healthcare.gov's Insurance Finder helps employers explore their options for healthcare insurance for themselves and their employees.

Assess and Compare Quality of Care

Healthcare.gov also lets you compare the quality of care provided by the institutions that administer healthcare prevention and treatment services using the Compare Care Providers tool.

Stay Connected

Get ready for Marketplace enrollment on October 1^st by signing up for email and text alerts about new health insurance options and benefits at http://www.signup.healthcare.gov.

Top Three Things Small Businesses Should Know About the Affordable Care Act

Meredith K. Olafson — Fri, 25 Jan 2013 21:17:39 +0000

The Affordable Care Act will help small businesses by lowering premium cost growth and increasing access to quality, affordable health insurance. Depending on whether you’re a small employer or a larger employer, different provisions of the Affordable Care Act may apply to you as described below.

1. Businesses with Fewer than 25 Employees- Small Business Tax Credits

The Affordable Care Act does not require that businesses provide health insurance, but it offers tax credits for eligible small businesses that choose to provide insurance to their employees. To qualify for a small business tax credit of up to 35% (up to 25% for non-profits), you must have:

Fewer than 25 full-time equivalent employees
Pay average annual wages below $50,000
Contribute 50% or more toward employee health insurance premiums

Beginning in 2014, this tax credit goes up to 50% (35% for non-profits) and is available to qualified small businesses who participate in the Small Business Health Options Program (SHOP) Exchanges.

2. Businesses with 50 or Fewer Employees- Affordable Insurance Marketplaces

The Affordable Care Act does not require that businesses provide health insurance, but beginning in 2014, small businesses with generally 50 or fewer employees will be able to purchase coverage through SHOP , competitive marketplaces where small employers can go to find health coverage from a selection of providers. The SHOP Marketplaces and Individual Marketplaces for those who are self-employed open on January 1, 2014. Open enrollment begins on October 1, 2013. SHOP will offer small businesses increased purchasing power similar to that of large businesses.

3. Businesses with 50 or More Employees- Employer Shared Responsibility Provisions

Under the Affordable Care Act, the Federal government, State governments, insurers, employers, and individuals share the responsibility to reform and improve the availability, quality, and affordability of health insurance coverage in the United States. Employers are not required to provide coverage to their employees under the Affordable Care Act. However, beginning in 2014, businesses with 50 or more full-time employees (or full-time equivalents) that do not offer affordable health insurance that provides a minimum level of coverage to substantially all of their full-time employees (and their dependents) may be subject to an employer shared responsibility payment if at least one of their full-time employees receives a premium tax credit to purchase coverage in an insurance Marketplace. A full-time employee is generally one who is employed an average of 30 or more hours per week.

If you meet or are close to this threshold level of full-time employees, it’s important to understand how these rules may apply to you and how the employer shared responsibility payments could be triggered. For more guidance on the employer shared responsibility payments, refer to this FAQ from the IRS.