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Employer Penalty: Identify application and method of compliance
December 1, 2024
| All Employers | Determine ALE Status (i.e., whether the employer has at least 50 full-time employees (FTEs) each calendar year, considering all common law employees in the entire controlled group and counting each part-time employee as a fraction of the FTE). Determine full-time status using monthly measurement method or look-back measurement method. Offer coverage to FTEs and dependent children.
Evaluate minimum value, affordability and elect a safe harbor. Ensure that all plan language accurately reflects the selections. |
“A” Penalty Adjusted for inflation: $2,970 for 2024 times total number of FTEs after the first 30 are removed for relief. “B” Penalty Adjusted for inflation: $4,460 for 2024 times the total number of ACA FTEs who receive the subsidy in the Marketplace (max penalty is capped at the “A” penalty) |
