The Pay or Play Penalty Calculators in your online HR library have been updated to include the inflation-adjusted penalty amounts for 2015. There are two separate calculators for 2015, depending on an employer’s number of full-time employees (including full-time equivalents):

• Penalty Calculator for Employers With 50 to 99 Full-Time Employees
• Penalty Calculator for Employers With 100 or More Full-Time Employees

To use the updated calculators, simply enter data on the number of full-time employees and employees receiving a premium tax credit or cost-sharing reduction for a month, and the spreadsheet will calculate the estimated penalty for the month.

Compliance Timeline

As a reminder, employers with 100 or more full-time employees (including full-time equivalents) are subject to the pay or play requirements starting in 2015, while those with 50 to 99 full-time employees (including full-time equivalents) do not need to comply until 2016 if they meet certain eligibility criteria related to workforce size, maintenance of workforce and overall hours of service, and maintenance of previously offered health coverage.

More tools, checklists, and notices are available in our section on Health Care Reform.