Effective 6/30/2015, Certain Businesses Subject to $100/day Penalty for No Group Health Plan
The Affordable Care Act strikes again. Starting June 30th of this year, certain businesses will be subject to a $100/day penalty if the business does not have a group health plan (even if the business reimburses employees for their individual coverage). LMGW is being proactive in communicating this to all clients whom may be affected. Here is the web link to IRS Notice 2015-17 which explains the new law in its entirety:
http://www.irs.gov/pub/irs-drop/n-15-17.pdf
If you feel that this law may affect your business, please do not hesitate to contact our office.
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