Employer Mandate To Provide Health Insurance Delayed Until 2015
Implementation of the “pay or play” provisions of the Affordable Care Act, which will require all employers with more than 50 full time equivalent employees to provide full time employees with health insurance or pay fines, has been delayed until at least January 1, 2015. The stated reason is to give the Department of Treasury time to streamline the reporting requirements.
The Department is expected to issue official guidance next week, and is expected to propose formal rules later this summer.
For now, the individual mandate (which requires that all individuals purchase health insurance) remains in place, as do government subsidies and tax credits for those who qualify for that assistance.
Your employment and benefit professionals at Lewis Brisbois will provide further information as it becomes available.
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