Business Insurance Services Inc.
is a brokerage firm that has no allegiance to
any insurance company. Our agents are also multi state licensed. We
will shop all major carriers for you so you always get the best
plan at the lowest price. There are many ways for consumers to
purchase health insurance. However
the best way is to use an experienced broker, most especially since it
costs nothing extra to do so.
Call us directly at
(630) 674 1551.
If you are outside of Illinois call us toll free at (866) 724 7123
for a free no obligation telephone consultation from one of our licensed
brokers. Or you can
click on the image below and send us your census information so we can
prepare quotes for your business.
Small and large employer obligations under the Patient Protection &
Affordable Care Act (Obamacare)
Beginning in 2015
Employers with 100 or more FTE -
Full Time Equivalent - employees are required to offer
insurance" (employee's share of the annual premium for self-only
coverage is no greater than 9.5% of annual household income) to all of their Full Time employees and their dependent
children (first 30 Full Time employees are excluded) or pay a non
tax deductible "Employer Shared Responsibility" payment to the IRS.
Click here to determine how many 'Full
Time Equivalent' employees you have.
Beginning in 2016
Employers with 50 to 100 FTE - Full
Time Equivalent - employees are required to offer affordable health
insurance to all their Full Time employees and their children or
pay a monthly non tax deductible "Employer Shared Responsibility"
payment to IRS for all but 30 of their Full Time Equivalent employees.
How the employer "Shared
Responsibility" penalty is assessed
The payment can be assessed in one
of two ways:
1.) $2,000 per employee penalty to employers that do not offer
affordable, qualified health insurance to their Full Time Equivalent
employees and their dependent children.
2.) $3,000 per employee penalty to
employers that do offer health insurance but that health
insurance is deemed either not 'affordable' or not a 'qualified health
plan' and one or more Full Time employee buys health insurance on
the exchange and receives an APTC - Advance Premium Tax Credit -
(subsidy). In this scenario the employer would be assessed a $3,000
penalty for each employee who received a subsidy.
All penalties are collected by the
Internal Revenue Service and enforced by the Dept. of the U.S. Treasury.