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Employer Mandate Delayed !!! What do you think about this?
On July 2, 2014, the Obama Administration delayed part of the Affordable Care Act
(ACA, or health care reform law) that affects employers. The parts of the law
listed below will now go into effect in 2015 instead of 2014:
will not have to report certain information to the IRS. This has been referred
to as "employer reporting requirements." We are waiting for the IRS
to give details on what requirements this includes.
- The rule
that says large employers have to offer coverage to full-time workers or pay a
penalty. "Large employer" in this case is a business that has 50 or
more full-time or full-time equivalent employees (that work an average of 30
hours a week).
- The rule
that says coverage offered by large employers cannot be more than 9.5% of a
worker's pay for self-only coverage.
The delay notice changes the employer mandate part of the law only. The individual
mandate and other parts of the law are unchanged. The IRS has said it will release more details
about the delay soon.