Information contained in this publication is intended for informational purposes only and does not constitute legal advice or opinion, nor is it a substitute for the professional judgment of an attorney.
The National Retail Federation (NRF) has created an online calculator to help employers determine the amount of penalty payments they could end up paying if they do not offer qualified health coverage required under the Patient Protection and Affordable Care Act (PPACA). Employers using the online tool are prompted to enter the number of full-time employees, or part-time employees (if the employer has fewer than 50 full-time employees). The program then calculates the total annual penalty payments an employer would have to make if it did not offer qualified health coverage; offers guidance for those employers that do not offer coverage considered “affordable” under the new law; and indicates whether an employer is exempt from the coverage obligations. According to the NRF’s website, the calculations take into account “exceptions, limits and other factors that affect the total.”
In a statement, NRF Vice President and Employee Benefits Policy Counsel Neil Trautwein said: “The mandate penalties are both complicated and abstract,” adding that the online tool “will allow businesses to gauge their potential penalty exposure as they plan for the future.”
This entry was written by Ilyse Schuman.
Photo credit: Bartek Szewczyk