Just announced by the Obama administration, part of the PPACA has been pushed back one year to 2015!! As we were getting closer to the implementation of key components of the Affordable Care Act effective January 1, 2014, the Obama administration, after listening to multiple employer groups about continued confusion with The Act, has decided to push back the implementation of the Employer Mandate until January 1, 2015. The Employer Mandate, or Pay or Play, made it mandatory for employers with 50 or more FTE (full-time equivalent employees) to offer health insurance to all employees who worked over 30 hours a week, or 120 hours a month or face penalties for failing to do so. Included with this was self-reporting requirements to Health and Human Services on an annual basis. Feeling there was still tremendous confusion and misunderstanding President Obama signed the delay into law today. But this does not delay all parts of ACA. Still effective January 1, 2014 will be the Employee Mandate, which makes it mandatory for employees to purchase insurance either through their employer or a health exchange provided by the state or federal government, or an individual plan through an insurance broker, or face penalties if they do not. (waiting to hear how this will be enforced). Also insurance providers will still need to comply with eliminating annual caps on insurance and eliminating pre-existing for all on the medical plan. Plus other requirements. This is all we know right now, as more comes out we will definitely keep everyone posted. But this is great news for all who were about to have to provide insurance.
Posted on: Wed, 03 Jul 2013 23:43:31 +0000
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