As we embark on summer and employers inch closer to some of the major compliance deadlines put into place by the Affordable Care Act (ACA), it seems like a good time to review some recent updates that employers should be aware of as they plan their strategies for meeting the demands of the new law.
Temporary Reprieve for “Mid-size” and “Large” Employers -
Final regulations issued this winter on the employer mandate provide transitional relief to “mid-size” employers with 50-99 full-time equivalent employees. Mid-size employers now have an additional year to comply with the employer “shared responsibility” rules, meaning they will not face penalties for failing to offer adequate coverage to 95 percent of full-time employees until January 1, 2016. Although “large” employers with 100 or more full-time equivalent employees will still be required to comply with the shared responsibility rules as of January 1, 2015, those employers have also been granted some relief. For 2015 only, large employers will face penalties if they fail to offer adequate coverage to 70 percent of their full-time employees.
Originally published in Oregon Business on July 22, 2014.
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