| Penalties | Reporting requirements |
|---|---|
|
What is $ 3,750 per each FT or FTE employee that is employed by the company.
Not offering affordable or quality coverage
|
What is Form 1094-C
It reports summary information about whether or not the employer offered affordable minimum essential health coverage and enrollment for eligible employees.
|
|
What is A minimum of $540 per FT or FTE employee.
Failing to file end of year
|
What is Form 1095-C
This is used to report information about each individual employee and provides important information employees need to complete their individual tax returns.
|
|
What is $2,500 ($208.33 per month) per each FT or FTE employee not covered, minus the first 30 full time employees.
Not offering coverage to enough employees
|
|
|
What is priceless
Not having to pay the IRS hundreds of thousands of dollars each year
|
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