On March 3, Governor Phil Murphy presented his Fiscal Year 2020 budget, where he proposed a Corporate Responsibility Fee.
This proposal would assess a $150 per employee fee on employers with more than 50 employees whose employees are enrolled in Medicaid. It is estimated by the administration that this fee would generate $30 million in new revenues for the State.
Currently, there are no details because enabling legislation by the Senate and Assembly has not been written yet but we have a few questions on the legislation.
At this point, we are still waiting for more details on points below:
- Would this be assessed on part time and full time employees?
- What if the employee declines coverage offered by the employer and enrollees in Medicaid?
Please find here a recent NJBIZ article.
If you believe this policy will impact you, please email us at firstname.lastname@example.org.