July 2013 Group Watch: Obamacare Reprieve
Employers will get a one-year reprieve from providing health insurance for their workers as the White House retools the mandate that critics have said is both costly and cumbersome. The delay was announced by Treasury officials and would push the requirement past the 2014 mid-term elections. Other aspects of the massive law wouldn’t be delayed. The employer mandate requires businesses with more than 50 workers to provide health insurance for their employees or face fines of up to $3,000 per worker. The change was supposed to become effective January 1, 2014, but will now occur in 2015. Government officials are strongly encouraging employers to maintain or expand health coverage during the transition period.
