New Jersey Paid Sick Leave Law - Required Poster Released

11 December 2018 By Barry E. Fields

This is just a reminder that the New Jersey Health Insurance Market Preservation Act is effective January 1, 2019.  This new law is a continuation of the federal Affordable Care Act (ACA) provision, requiring every New Jersey resident to obtain health insurance or make a Shared Responsibility Payment (SRP).  While the federal individual mandate penalty will no longer be imposed to the uninsured in 2019, under this new law, New Jersey taxpayers who are subject to the individual mandate (and their dependents) must have minimum essential coverage (MEC) during each month of the year in 2019.  Those without MEC may be subject to a penalty that is equal to the amount they would have paid if the ACA’s mandate had not been repealed: $695 for adults ($347.50 per child) or 2.5 percent of a taxpayer’s income, whichever is greater. This amount is adjusted for inflation each year.

 Most basic health coverage satisfies the requirement, including health insurance plans through an employer, Medicare, Medicaid, the Children's Health Insurance Program (CHIP), NJ FamilyCare, or another source that provides MEC.

Also, just another reminder that fortunately the IRS extended the 2018 ACA filing deadline.  The deadline to distribute the forms to employees was extended from January 31, 2019, to March 4, 2019.  In addition to extending the deadline for distributing the forms, the IRS also extended its transition relief with respect to penalties if good faith efforts are made to comply with information reporting requirements.

See attached articles for details about both topics.  We will keep you apprised of any further developments.  Please let me know if you have any questions.

Furnishing Deadline Delayed for 2018 ACA Reporting.pdf

New Jersey Enacts State Individual Mandate and Reinsurance Program.pdf


Barry E. Fields
Vice President, Employee Benefits

Cell: 908-406-7000 | Fax: 732-834-0233
101 Crawfords Corner Road, Suite 1300, Holmdel, NJ 07733

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Last modified on Tuesday, 11 December 2018 17:24

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