Affordable Care Act Employer Mandate Delayed until 2015
Early in July 2015, the Department of Treasury announced that based on concerns of employers it will delay certain provisions in the Affordable Care Act. Included in the provisions that will be delayed is the employer reporting requirements and the tax penalties for businesses subject to the “Play or Pay” requirements. Essentially this delays the requirement for certain employers to offer healthcare to their employees until 2015. Although compliance is now voluntary in 2014, employers are encouraged to attempt to comply with the Act and proactively consider the 2015 deadline while deciding on 2014 health care plans (in anticipation of the mandated reporting and penalties).”
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