On the horizon – Contractors must prepare for impending health care penalties

Description

Abstract: On Jan. 1, 2014, major provisions of the Patient Protection and Affordable Care Act will go into effect. This includes implementation of a state-level insurance marketplace and new requirements, penalties, and tax subsidies for individuals and employers designed to ensure compliance. This article goes over some of the details that small and large employers — and employees as well — should be mindful of. A sidebar reveals that defined-contribution health plans are gaining traction.