Tuesday, July 2, 2013

Obamacare provision delayed until 2015

The Obama Administration announced that businesses will be granted one more year before they are required to cover their employees under Obamacare. Most large employers already do cover their employees, and smaller businesses, with less than 50 employees were initially exempt from the rule. Because the reporting requirements are so elaborate, many businesses expressed concern regarding the ability execute them efficiently, today the administration announced that ACA employer mandate will be delayed for one year.
The move does not affect the individual mandate – the requirement that most Americans get insurance. And it doesn’t delay the new marketplaces where people and small businesses can sign up for coverage starting in October. 

Is a year enough time to simplify such complex reporting requirements?

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