The small employer health care reform tax credit is determined by these two factors.
What are the number of employees and the average employee salary?
100
When determining the small employer tax credit, these people are NEVER included when calculating the number of employees and average employee salary, as their health insurance premiums cannot be applied towards the credit.
What are business owners and their family members?
100
An individual will qualify for a subsidy to pay for their health insurance if their income is this percentage of the federal poverty line or lower?
What is 400% of the federal poverty line?
100
This is what the state exchange for small employers is called.
What is Small Business Health Options Program, or SHOP?
100
The date in which Phase I of health care reform became effective (retroactively).
What is January 1, 2010?
200
This is the maximum number of full-time employees (or FTE equivalents) a small employer can have and still potentially qualify for the MAXIMUM small employer health care reform tax credit.
What is 10 full time employees or FTE equivalent?
200
These types of employees are generally not included when determining a small employer's FTE equivalents and average annual wages as they usually work for their employers no more than 120 days during the tax year.
What are seasonal employees?
200
Starting in 2014, health insurance companies cannot disqualify you or increase your premiums for having this.
What are pre-existing conditions?
200
These are the four coverage levels offered through the exchange.
What is Bronze, Silver, Gold, and Platinum?
200
California state exchanges will become available to individuals on this date.
What is October 1, 2013?
300
The average annual salary of a small employer's employees must be this amount or less to potentially qualify for the MAXIMUM health care reform tax credit.
What is $25,000?
300
The maximum small employer HCR tax credit for businesses is 35% in Phase I, and 50% in Phase II. For non-profit (tax exempt) employers, these percentages are their tax credits in Phase I and II.
What are 25% and 35%?
300
This is the minimum annual penalty for a single adult who does not have health insurance in 2014.
What is $95?
300
These are the percentages of medical expenses covered by the Bronze, Gold, Silver, and Platinum plans, respectively.
What is 60%, 70%, 80% and 90%?
300
The individual mandate becomes effective on this date.
What is January 1, 2014?
400
A small employer must have less than this many full-time employees (or FTE equivalent) to qualify for a ANY small employer tax credit.
What is 25 employees?
400
Instead of taking a small employer HCR tax credit at the end of the year like a business, non-profits claim their tax credits when they pay these types of taxes.
What are payroll taxes?
400
This is the minimum annual penalty for a single adult who does not have health insurance in 2015.
What is $325?
400
If an individual qualifies for a subsidy to pay for their health insurance, they are tied to purchasing this level of the coverage through the exchange to receive the subsidy.
What is silver coverage?
400
In this year, all employers with 100 or fewer employers may
participate in their state's exchange.
What is 2017?
500
The average annual salary of a small employer's employees must be less than this amount to potentially qualify for ANY small employer health care reform tax credit.
What is $50,000?
500
Even if a small employer is not required to provide their employees health insurance, they will still be required to provide their employees this documentation upon the implementation of Phase II of health care reform.
What is an Exchange Notice?
500
To determine where an individual's income is relative to the federal poverty line, the individual should use this and NOT their annual gross income.
What is their MAGI, or modified adjusted gross income?
500
An employee can opt out of an employer's health insurance and purchase individual insurance through the exchange, but they will only receive a subsidy if their employer's health insurance is deemed to be this.
What is unaffordable?
500
States will have the flexibility (for up to 5 years) to make changes related to their exchange, qualified health plans, cost-sharing reductions, tax credits and individual and employer responsibility requirements in this year