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Small Business Insurance Services Inc.
is a brokerage firm that has no allegiance to any insurance company. Our agents are also multi state licensed. We will shop all major carriers for you so you always get the best plan at the lowest price. There are many ways for consumers to purchase health insurance.
However the best way is to use an experienced broker, most especially since it costs nothing extra to do so. Call us directly at (630) 674 1551. If you are outside of Illinois call us toll free at (866) 724 7123 for a free no obligation telephone consultation from one of our licensed brokers. Or you can click on the image below and send us your census information so we can prepare quotes for your business.



Small and large employer obligations under the Patient Protection & Affordable Care Act (Obamacare)

Beginning in 2015

Employers with 100 or more FTE - Full Time Equivalent - employees are required to offer "affordable health insurance" (employee's share of the annual premium for self-only coverage is no greater than 9.5% of annual household income) to all of their Full Time employees and their dependent children (first 30 Full Time employees are excluded) or pay a non tax deductible "Employer Shared Responsibility" payment to the IRS. Click here to determine how many 'Full Time Equivalent' employees you have.

Beginning in 2016

Employers with 50 to 100 FTE - Full Time Equivalent - employees are required to offer affordable health insurance to all their Full Time employees and their children or pay a monthly non tax deductible "Employer Shared Responsibility" payment to IRS for all but 30 of their Full Time Equivalent employees.

How the employer "Shared Responsibility" penalty is assessed

The payment can be assessed in one of two ways:

1.) $2,000 per employee penalty to employers that do not offer affordable, qualified health insurance to their Full Time Equivalent employees and their dependent children.

2.) $3,000 per employee penalty to employers that do offer health insurance but that health insurance is deemed either not 'affordable' or not a 'qualified health plan' and one or more Full Time employee buys health insurance on the exchange and receives an APTC - Advance Premium Tax Credit - (subsidy). In this scenario the employer would be assessed a $3,000 penalty for each employee who received a subsidy.

All penalties are collected by the Internal Revenue Service and enforced by the Dept. of the U.S. Treasury.

 
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