{"id":3246,"date":"2019-10-17T22:50:51","date_gmt":"2019-10-17T22:50:51","guid":{"rendered":"http:\/\/www.www.idahoinsuranceagency.com\/?p=3246"},"modified":"2023-07-20T18:14:36","modified_gmt":"2023-07-20T18:14:36","slug":"2-tax-related-changes-for-your-healthcare-in-2016","status":"publish","type":"post","link":"https:\/\/www.idahoinsuranceagency.com\/2-tax-related-changes-for-your-healthcare-in-2016\/","title":{"rendered":"2 Tax Related Changes for Your Healthcare in 2016"},"content":{"rendered":"

While 2016 may be many months away, it\u2019s not too soon to start planning now for your health coverage for the coming year. There\u2019s already buzz about double-digit increases in premiums in certain locations, but this isn\u2019t the only change coming. There are also changes in tax rules for healthcare in 2016.<\/p>\n

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Here\u2019s what you need to know so you can start to plan now:<\/p>\n

1. Smaller \u201cLarge\u201d\u00a0Employers Subject to the Mandate<\/span><\/strong><\/p>\n

The employer mandate, which was supposed to start in 2014, was postponed for large employers (those with 100 or more employees) to 2015. However, starting in 2016, employers with 50 to 99 employees must start to offer coverage or pay a penalty. The mandate applies to those with full-time employees and full-time equivalent (FTE) employees totaling 50 or more.<\/p>\n

To determine whether you\u2019re subject to the employer mandate, average the number of your employees across the months in the year (e.g., the number of workers in 2015 determine whether the mandate applies to you in 2016). Find details about how to figure these numbers from the\u00a0IRS<\/a>\u00a0(PDF).<\/p>\n

Note<\/em><\/strong>: An employer that was not in existence on any business day in the prior calendar year is considered a large employer in the current year only if both of the following conditions apply:<\/p>\n