(PRWEB) September 05, 2012
Zane Benefits is the leader in defined contribution healthcare. Providing businesses with comprehensive and flexible alternatives to conventional employer-sponsored health insurance, Zane Benefits has become a champion, helping employers, employees, agents and affiliates understand the ever-changing health insurance market.
Today, Zane Benefits published a guide to understanding the business health insurance tax penalty that will take effect in 2014. Businesses will find this easy-to-understand guide useful in determining how much, if any, they will have to pay.
The Health Care Reform bill requires certain businesses to offer employees health insurance. Starting in 2014, businesses with more than 50 full-time equivalent employees will be required to either offer health care coverage or pay a tax penalty.
It is important to note that the business health insurance tax rule is NOT simple. Effective January 1st, 2014, "applicable large employers" will be required to offer "minimum essential coverage" that is “affordable” to their employees. "Applicable large employers" who fail to offer "minimum essential coverage" that is “affordable” will be required to pay a "penalty" on their tax return.
In this guide, Zane Benefits, asks four simple questions to help businesses calculate their health insurance tax penalty. Read the full guide to calculating the business health insurance tax penalty.