Affordable Care Act Employer Mandate delayed until January 2015
July 3, 2013
In a surprise announcement yesterday afternoon the Treasury Department announced a one year delay of the Employer mandate under Obamacare. This means that large employers (over 50 full time employees) will not be required to offer affordable health care coverage to full time employees until January 2015.
A Treasury official stated that the administration delayed the start of the mandate so that it could:
“consider ways to simplify the new reporting requirements consistent with the law;” and
“provide time to adapt health coverage and reporting systems while employers are moving toward making health coverage affordable and accessible for their employees.”
The Treasury Department said it would issue guidance next week. We have no more details about how this might affect the “individual mandate” — the requirement that most Americans obtain health insurance coverage. We will update you as soon as the Administration issues more guidance.