Employer Mandate Delay
The Internal Revenue Service announced on July 2, 2013, that the government will delay the implementation of the Affordable Care Act (ACA) employer mandate. This delay has left many employers wondering how their requirements and responsibilities might change.
The delay impacts two key provisions of the ACA:
- The employer’s requirement to offer sufficient and affordable coverage starting in 2014
- Any reporting requirements associated with the employer mandate
Employers will still have to provide required notices, plan for applicable fees, and make necessary benefits changes. Additional guidance is expected to be released over the next few months with respect to variable hour employees and non-calendar year plans. In the meantime, employers should use this extension wisely to fine-tune their benefits and business strategies in anticipation of the rollout to mitigate future financial consequences.
Employers Benefits Strategy for 2015
For all the aggravations and confusion created by health care reform, the basic equation of health benefits remains the same for employers: to attract and retain the best talent, a good health plan is an essential part of any benefits package. And with the ongoing changes brought about by the Affordable Care Act (ACA) it’s never been more important to have a clear understanding of the options available to your company, as you consider the latest regulations, industry trends, and innovations.