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Brought to you by ChamberChoice and JRG Advisors
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On October 7, 2015, President Obama signed into law the Protecting Affordable Coverage for Employees (PACE) Act, which repeals the ACA’s small group market expansion requirement.
The PACE Act affects employers with 50-100 employees that currently provide group health insurance. Effective for 2016 plan years, the ACA expanded the definition of a “small employer” to those employers that employed an average of one to 100 employees. Under this requirement, employers with up to 100 employees would be required to purchase health insurance policies in the small group market. The PACE Act eliminates the ACA’s definition of “small employer” and, instead, gives states the option of expanding their small group markets to include businesses with up to 100 employees.
For more information on the Protecting Affordable Coverage for Employees (PACE) Act please CLICK HERE.
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