The Affordable Care Act’s “employer mandate” has been delayed once again, following the first delay in July 2013. But the date is not the only thing that has changed. Here is what you need to know about the latest changes made to the Affordable Care Act:
The Treasury Department delayed the effective date of the employer shared responsibility provisions and the reporting requirements under the ACA that apply to large employers from January 1, 2014 to January 1, 2015.
Three Major Changes
The latest version of the regulations pertaining to the employer shared responsibility provisions contains three major changes. These updates are designed to help employers transition to the full implementation of the employer mandate provisions. They are as follows, according to an interpretation provided by BerryDunn law firm:
Essentially, this delay means that employers who have less than 100 FT/FTEs now have an additional year to bring their health plan into compliance with the ACA. Those employers with 100 or more FT/FTEs must use the time remaining in 2014 to prepare for the employer shared responsibility provisions, which go into effect January 1, 2015. For further clarification, click here to see the Treasury Department’s fact sheet.