Obamacare Delay of Employer Mandate Provisions
Have over 50 employees and worried about providing healthcare by 2014? You’ll have some extra time.
Last Tuesday, the Obama administration announced that it will delay implementation of the employer mandate provisions of the Affordable Care Act (the “ACA”, also known as “Obamacare”) until January 1, 2015.
The requirement would have required any employer with more than 50 employees to provide health insurance with a minimum level of benefits to all of its employees by January 1, 2014 or face a penalty of $2,000 per employee. The Administration announced the delay because of the complexity of the law.
“We have heard concerns about the complexity of the requirements and the need for more time to implement them effectively,” Treasury Assistant Secretary Mark Mazur said in a blog post. “We have listened to your feedback and we are taking action.”
If you are concerned about implementation of the ACA and would like assistance with planning for it, please contact us at (404) 255-7400 or email us.
In accordance with IRS Circular 230, this article is not to be considered a “covered opinion” or other written tax advice and should not be relied upon for IRS audit, tax dispute, or any other purpose. The information contained herein is provided “as is” for general guidance on matters of interest only. Hoffman & Associates, Attorneys-at-Law, LLC is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. Before making any decision or taking any action, you should consult a competent professional advisor.
