Are you sure your small company will avoid Obamacare penaltites?Blog added by Ken Davis, Retired CPA, CLU, ChFC on July 2, 2013
Ken Davis

Ken Davis, Retired CPA, CLU, ChFC

Scottsdale, AZ

Joined: November 23, 2009

A friend that sells Aflac turned me onto a major penalty trap. It is true that I do not have to pay penalties for not insuring my employees because they number less than 25. However, an article on the SBA government site explains that I am responsible for notifying my employees of their rights under the act to buy insurance on their own and how to obtain it. I am told the penalties can be as high as $10,000 per employee. That is not explained by SBA, but they confirm the need to inform the employees.

You can find the original article here. Look down a few paragraphs to find the info. There is a link to a standard form to give to your employees to avoid the trap. I am not an expert on any of this and offer no legal advice. Just wanted to give you all a heads up.
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