Treasury Department Delays Affordable Care Act (ACA) Employer Mandate Until 2016 for Employers with 50-99 Employees that do not yet Provide Affordable Insurance to Full Time Workers
On February 10, the Department of the Treasury released the final rules implementing the employer mandate provisions of the Affordable Care Act. The ACA provisions require applicable large employers (generally, employers with 50 or more full-time employees or full-time equivalents) to offer health coverage to all full-time employees (individuals working at least 30 hours a week) or pay a penalty. Under the Affordable Care Act, companies that have fewer than 50 employees are not required to provide coverage or fill out any forms in 2015, or in any year.
The final rules address a number of key issues:
We are in the process of reviewing the final regulations and will provide more detail on other important employer shared responsibility provisions.