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Health Insurance Glossary

Definitions for common health insurance terms

employer shared-responsibility payment

DEFINITION: Since 2015, employers with at least 50 full-time equivalent employees have been required to offer affordable, minimum essential coverage to their full-time employees and if it least one employee got a policy in the exchange with a subsidized premium. The annual penalty is the number of full-time employees (minus 30) multiplied by $2,000. (Additional details for calculating the penalty are here.)