Tuesday, July 2, 2013

BREAKING Obamacare Delay for Businesses

The Obama administration left it to a relatively low level Treasury official to announce the blockbuster news that the Obama administration will not begin enforcing employer mandates in the Obamacare law until 2015 - one year later than originally planned.

Mark Mazur, the Assistant Treasury Secretary for Tax Policy, announced on the agency's blog that the administration 'will provide an additional year before the ... mandatory employer and insurer reporting requirements begin.'

The delay in enforcement means that the Administration will not penalize businesses that do not provide health insurance in 2014.  Instead, it will delay enforcement of a major Affordable Care Act requirement that all employers with more than 50 employees provide coverage to their workers until 2015.

At this point the individual mandate remains, meaning individuals must obtain health insurance or face penalties.

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