Employers with more than 50 employees who have struggled to understand their responsibilities under the Affordable Care Act (ACA) can breathe a sigh of relief: the Obama Administration announced recently it has delayed until 2015 the requirement that large employers provide health insurance to their workers or pay a penalty.
The ACA originally required large employers – those with 50 or more full-time equivalent employees – to report to the Internal Revenue Service by January 31, 2015, about the coverage they offer to full-time employees in 2014. Instead, the IRS will use 2014 as a transition year and push back to January 31, 2016, the requirement to report data on coverage offered to employees in 2015.
Employers with fewer than 50 full-time equivalent employees are not required to offer coverage under the ACA. If you’re unsure what your role should be in complying with the new ACA regulations, please contact your ShindelRock professional.