Delay in Key Piece of the Affordable Care Act

July, 2013


Today it was announced that there will be some delay in a key provision of the Affordable Care Act. Specifically, the portion of the law requiring employers with 50 or more full-time equivalent employees to provide health insurance for their employees has been delayed until 2015. The reason for this delay is to give employers more time to comply with the new rules and to implement the new reporting requirements.

Although more guidelines around this announcement are expected in the next week, here are a few key points that we know now:

  • If you are a business with 50 or more employees and do not currently provide insurance, this legislation provides you flexibility and transition time to be ready for 2015.
  • The individual and small business exchanges are still on track to open for enrollment on October 1. Today’s announcement does not impact that schedule.
  • If you are an employer of less than 50 employees, the law’s shared responsibility provisions do not apply to you. You may, however, be eligible for tax credits for providing quality, affordable insurance to your workers and you will have access to the Small Business Health Options Program (the SHOP exchange) this fall.

As always, please contact Cascade with any questions.

 

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