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Executive Summary: The Obama Administration has announced that implementation of the penalties under the Affordable Care Act's ("ACA") employer mandate (also known as the "pay or play" penalties) have been delayed until 2015.
The Bottom Line: Transition relief is being provided for the employer mandate penalties and reporting on Forms 6055 and 6056 only.
However, employers will still have to comply with the other portions of the ACA, including reporting requirements such as Form W-2 Reporting; health plan coverage and design mandates, such as women's preventive care, pre-existing condition exclusions, and implementing a 90-day waiting period; and distribution requirements such as distributing a Summary of Benefits and Coverage and Notice of Coverage Options.
This transition relief also does not affect the implementation of the Health Insurance Exchanges, and the SHOP portion of the exchanges remains delayed. For more information, please see our May 14, 2013 Legal Alert, Notice of Health Exchange Coverage Options Guidance Released.
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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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