ObamaCare Penalty Delayed Again for Some Businesses
The Obama administration announces another delay in the requirement for businesses to provide health coverage, giving some employers a reprieve next year while phasing in the mandate for others.
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The Obama administration announced another delay Monday in the requirement on businesses to provide health coverage, giving some employers a reprieve next year while phasing in the mandate for others.
The administration had already delayed the implementation of the so-called employer mandate by a year, presumably pushing the requirements off until 2015. In a bow to business, though, Treasury Department officials announced Monday that the administration would not enforce the rules across the board next year.
Instead, the administration will let employers with 50 to 99 employees off the hook in 2015. They'll be required to report on how many workers are covered but will have until 2016 before facing a penalty for failing to cover employees.
Employers with 100 or more workers will be required to provide health insurance to full-time staff. However, the new rules will only require them to cover 70 percent of workers next year; and then 95 percent the following year.