BREAKING NEWS************* Obama Administration to Delay Health Law Requirement Until 2015

On Tues July 2. 2013, the Obama administration announced that the employer mandate aspect of the Patient Protection and Affordable Care Act (PPACA) will be delayed by one year.

This mandate requires businesses with 50 or more workers to provide health insurance coverage to employees. As a result, the administration will start enforcing the mandate in 2015, rather than January 1, 2014, in an effort to give businesses more time to prepare.

What This Means
There will be no penalties in 2014 on businesses that don’t meet the requirements of the “employer mandate.”

What’s not changing as a result of these delays:

·         The Exchanges/Marketplaces

·         The individual mandate

·         Individuals’ access to premium tax credits

·         Any other PPACA provision

There will be additional changes tied to this delay, and the administration has stated that they will provide formal guidance within the next week.

We will continue to provide you with updates as more information is released.