The federal government has extended the Health Care Reform Marketplace special enrollment window. Individuals may enroll in Marketplace coverage or change their plans through August 15, 2021. This extension comes as additional financial assistance for Marketplace coverage was created through the American Rescue Plan Act.
An employee’s enrollment in Marketplace coverage may impact an employer. If a full-time employee receives a tax subsidy to purchase Marketplace coverage and if the employer did not offer that employee affordable health coverage, the employer may be subject to an Affordable Care Act tax penalty.
More and more individuals are going to be eligible for subsidized Marketpace coverage which makes it even more important for employers to confirm that they are offering full-time employees the required coverage.
For information about BAS’ Affordable Care Act data collection and reporting services, contact your account manager or solutions@basusa.com.