Is your business bumping up against the FTE employee headcount requirement to comply with the employer mandate under the Affordable Care Act? Are you balancing your hiring needs versus costs of compliance with the ACA?
If so, here’s a piece of information that might just be good news for you!
This year Congress passed a law exempting veterans from the headcount. They must have health care coverage under Tricare, CHAMPVA, or other qualifying government medical programs. The provisions of this new law are retroactive to January 1, 2014.
Many companies in our region employ veterans, so this provision could have an impact on smaller employers here. The IRS has yet to provide specific guidance on how to implement the law, but hopefully they will soon.