The Treasury Department has just announced that the employer penalty provisions of Health Care Reform, which were set to go into effect on January 1, 2014, will now be delayed until 2015. The delay applies only to the employer penalty provisions and certain related information reporting requirements. At least for now, the implementation of the Health Insurance Marketplaces (Exchanges) and the requirement that individuals obtain coverage (the Individual Mandate) are still scheduled to go into effect in 2014, along with other scheduled requirements. It also appears that, as of now, employers will still be required to provide Marketplace Notices to employees as of October 1.
The delay will be welcome news for employers that have been struggling with the complexities of the penalty provisions and the lack of guidance on key issues. We are expecting further guidance on how the rest of Health Care Reform will work before the end of summer. For more information about the announcement, please see Health Law RX Blog.

Topics:  Employee Benefits, Employer Mandates, Health Insurance, Health Insurance Exchanges, Healthcare Reform, Individual Mandate, U.S. Treasury

Published In: Health Updates, Insurance Updates, Labor & Employment Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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