Monday, July 14, 2014

Health Reform Alert: Penalties for Failing to Offer Dependent Health Coverage

Employer shared responsibility is approaching fast for applicable large employers. On May 13, 2014, the Internal Revenue Service (IRS) released FAQs addressing the consequences under the upcoming employer mandate for employers offering health insurance coverage to all full-time employees, but failing to offer dependent coverage.

The legislative alert below summarizes the FAQs, employer obligations, and transitional relief. Employers may want to take steps during their 2014 and 2015 plan years to limit their liabilities.

Pay or Play - Penalties for Failing to Offer Dependent Coverage