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http://AIADirectQuote.com Obamacare penalty may include business owners facing $100 per day. There may be an expensive wake-up call this coming month for small business owners. They thought they were home free until 2015, but may have a shock.
If a business has at least one employee and generating $500,000 in revenue a year, must notify all employees by letter about the Affordable Care Act's health care exchanges. If they do not, will face a $100 per day fine. This applies to any business that is regulated under the Fair Labor Standards Act and doesn't matter the size. Plus any new employee must receive the letter within 14 days of their start date according to the Department of Labor.
A few months ago the employer mandate was informed that every business with at least 50 or more full-time employees must offer workers acceptable coverage or face a $2,000 penalty per worker. per year. Keith McMurdy, partner at FOX Rothschild LLP, says the $100 per-day fine has been “unfortunately overlooked” by many small businesses, and the dollar amount on the penalty comes from the general per-day penalty under the ACA; however the October 1 employee notification deadline stands.