Employers that fail to provide the required health insurance to their employees under Obamacare will see a modest increase in fines for 2018. Obamacare requires employers with the equivalent of 50 or more full-time employees—those working 30 or more hours per week—to provide health insurance to 95% of their full-time employees.
The penalty for failing to provide insurance to 95% of full-time employees will increase from $2,260 in 2017 to $2,320 in 2018. The penalty is applied for each full-time employee that the employer has, minus the first 30 employees. At least one employee must receive government-subsidized health insurance coverage in order for the penalty to kick in.
The penalty for failing to provide coverage that meets minimum standards for affordability and coverage will increase from $3,390 in 2017 to $3,480 in 2018. The penalty is applied for each full-time employee who receives government-subsidized health insurance coverage.
Penalty amounts are adjusted each year for inflation.Effective date: January 1, 2018