Obamacare Implementation Postponed for Businesses

Treasury Department Delays Employer Shared Responsibility and Insurer Reporting Requirements by One Year

Late in the day on July 2nd, the Obama Administration stated that it will postpone the employer shared responsibility mandate and insurer reporting requirements for one year. As a result of the delay, any employer shared responsibility payments will not apply until 2015. The delay is based on the Administration’s recognition that the insurer reporting requirements – the steps businesses have to take to show they are complying with the rules — were complex. The reporting requirements are necessary to determine which employers would have been subject to an employer shared responsibility penalty. The Administration recognizes that it would be impractical for the employer mandate to go into effect before the reporting requirements are in place.

Source: <http://ajg.adobeconnect.com/hcr_070213a/>