Employers Face Penalties If Employee-Only Health Insurance Premiums Exceed 9.5% Of Employee Household Income

Employers will face financial penalties if premiums for employer-sponsored health benefits fail the affordability test, meaning that a full-time employee would be required to pay premiums totaling more than 9.5% of household income for employee-only coverage. The affordability test will not apply to premiums for family coverage through an employer-sponsored plan. Health benefits for employee-only coverage costing more than 9.5% of household income will be deemed unaffordable and the employer will face a fine of up to $3,000 for each full time employee whose required premium contribution fails the affordability test. Employees . . .