By Mary Ellen Schill
May 20, 2014
The Treasury Department announced late Tuesday afternoon that it was delaying until 2015 the employer “shared responsibility” mandate, the Affordable Care Act mandate for large employers, until 2015. This means that employers with more than 50 full time equivalents will NOT be subject to penalties in 2014 for failing to offer coverage, or failing to offer affordable coverage, to full time employees. So far, it is still anticipated that the Exchanges (now known as the Marketplace) will be up and running in 2014. Also, individuals will still be eligible for premium tax credits for purchasing coverage through the Marketplace.
So, employers will now have additional time to determine whether they are subject to the shared responsibility mandate, and if so, how to comply. I think most of us thought any delay with respect to 2014 would be in implementation of the Marketplace, but instead it is a delay in the employer mandate that came to fruition.
The Treasury expects to issue some more detail about this delay within the next week.
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