HCM Base Benefits Health Care Reform Shared Responsibility ACA Eligibility Enhancement
Last updated on OCTOBER 09, 2015
Applies to:PeopleSoft Enterprise HRMS Human Resources - Version 9.2 to 9.2 [Release 9]
Information in this document applies to any platform.
Starting in 2014, employers employing at least a certain number of employees (generally 50 full-time employees and full-time equivalents, explained more fully below) will be subject to the Employer Shared Responsibility provisions under section 4980H of the Internal Revenue Code (added to the Code by the Affordable Care Act). Under these provisions, if these employers do not offer affordable health coverage that provides a minimum level of coverage to their full-time employees, they may be subject to an Employer Shared Responsibility payment if at least one of their full-time employees receives a premium tax credit for purchasing individual coverage on one of the new Affordable Insurance Exchanges.
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