Accuchex Blog

Affordable Care Act $100/Day Penalty (mandatory requirement)

Posted by Tristan Ruhland on Sep 19, 2013 9:44:00 AM

There is a hidden Affordable Care Act deadline looming for millions of businesses.

Specifically: 

  • As of October 1, 2013, any business that employs at least one employee and $500,000 in annual revenue must notify all of its employees by letter about the Affordable Care Act's health-care exchanges.
  • If your business meets these requirements and does not comply, it will face up to a $100-per-day fine.
  •  The condition applies to all businesses that are regulated under the Fair Labor Standards Act, regardless of size. Additionally, a letter must be distributed to any new hire within 14 days of their starting date.  This is required by the Department of Labor.   

Stay Compliant By Downloading The Notice Of Exchanges And Subsidies Letters Below:

If you are an employer, please take a moment to read and familiarize yourself with the Department of Labor's website and the attached regulations. The Department of Labor posted sample letters (you may provide the forms to your employees via mail or in person) for employers to use:

Please Note:  

  • The ACA regulations are being amended regularly, so it is highly suggested that you check the DOL website on a regular basis for amendments and changes to guidelines and regulations.
  • Disclaimer: This information is not intended as legal advice and is for informational purposes only. We highly suggest you consult an HR professional or legal expert in Employer Compliance to assure you are following all regulations as intended by law. 

For More Information . . .

Visit these valuable links for more information on the Affordable Care Act and how it may affect your business.
Society For Human Resource Management Health Care Reform Resource Page
United States Department Of Labor Affordable Care Act Resources And FAQs

Topics: payroll management

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