Employer health care mandate is delayed until 2015

The delay of the Employer mandate affects those companies with 50 or more full time employees. Those of you with less than 50 full time employees are not affected by this, but your employees who don’t have coverage must still comply with the individual mandate to purchase coverage or pay a fine. The individual mandate, which requires all individuals without insurance to purchase it by January 1, 2014 as well as the the opening of the Exchange by October 1, 2013 have not been delayed. Those required to buy insurance under the individual mandate are eligible for tax credits to subsidize their premiums. Because the reporting requirements have been delayed, the Treasury will not have accurate data to assess whether and to what extent an individual is eligible for tax credits…stay tuned, further changes or delays may be in the works…read more…http://www.cgma.org/magazine/news/pages/20138268.aspx

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