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Cypress Solution eNews 
July 17, 2013 – Cypress Benefit Administrators
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payplayHealth Care Reform: "Pay or Play" Requirements Delayed Until 2015   
The U.S. Treasury Department has announced that it will delay enforcement of the "pay or play" requirements for one year. As a result, any penalties will not apply until 2015. The "pay or play" provisions require large employers to offer affordable health insurance that provides a minimum level of coverage to full-time employees (and their dependents) or pay a penalty tax. The requirements were originally to become effective on January 1, 2014. The delay is a result of transition relief being provided for 2014 with respect to certain employer and insurer reporting requirements. The delay does not affect the application or effective dates of other Affordable Care Act provisions. Learn more and see Formal Agency Guidance.    <back to top>
qaindivrespQ&A on the Individual Shared Responsibility Provision 
Under the Affordable Care Act, the federal government, state governments, insurers, employers and individuals are given shared responsibility to reform and improve the availability, quality and affordability of health insurance coverage in the United States. Starting in 2014, the individual shared responsibility provision calls for each individual to have minimum health coverage, qualify for an exemption, or make a payment. Learn about who is affected by the provision, when it goes into effect, available exemptions and requirements, coverage requirements and definitions, reporting and payment information and more.   <back to top>
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Cypress Benefit Administrators