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As of 2023, the penalty for not offering coverage to at least 95% of full-time employees is $2,880 per full-time employee, after subtracting the first 30 full-time employees. And the penalty for an employer that offers coverage that isn’t affordable and/or doesn’t provide minimum value is $4,320 per full-time employee who obtains a premium tax credit in the marketplace. In both cases, the penalty is only triggered if at least one full-time employee obtains a premium tax credit in the marketplace.
Businesses with 50 or more full-time equivalent (FTE) employees are required to offer comprehensive, affordable health insurance coverage or they risk a penalty.