Health Care Reform Employer Deadline Extended to January 1, 2015

The Department of Treasury announced late yesterday that enforcement of the Affordable Care Act employer mandate (which requires employers with more than 50 full-time equivalent employees to provide affordable health insurance coverage or pay defined penalties) will be delayed from its original deadline of January 1, 2014 to January 1, 2015. The 12-month delay also applies to reporting requirements for employers to provide information on health insurance coverage, who obtains the coverage and what is offered to employees.

Mark Mazur, Treasury Assistant Secretary, said the postponement in enforcement should allow time for the government to consider ways to simplify the new reporting requirements and adapt health coverage and reporting systems.

The Treasury announcement did NOT mention a delay for the individual mandate to purchase health insurance as of January 1, 2014.

Employers are still expected to comply with all other areas of the Affordable Care Act including the notification of employees related to the new health insurance Marketplace before October 1, 2013.

While this extension provides employers more time, it is imperative that employers act now to make informed decisions related to health care.

Please contact your Eide Bailly service provider or contact 855.220.8634 or healthcarereform@eidebailly.com for additional information.

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