- On July 2, 2013 the Department of the Treasury announced that the health reform law’s employer shared responsibility payments will be delayed until 2015. On July 9, 2013, the IRS released Notice 2013-45 with further guidance on the delay.
- The payments, which are also called “employer mandate penalties”, will be assessed by the IRS against large employers (with 50 or more employees) who don’t offer medical coverage or offer coverage that is deemed unaffordable.
- Although information reporting by employers and health insurers regarding employer-sponsored coverage will not be mandatory until 2015, the mandate itself still applies, and large employers are encouraged to maintain or expand medical coverage in 2014.
- As of now, other provisions of the PPACA will be implemented in 2014 as planned including:
- The individual mandate that all U.S. citizens and legal residents purchase medical insurance (although the IRS has relaxed the income verification requirement)
- The New York State Health Benefit Exchange will begin enrollment in October of 2013 for January 2014. Employers are required to provide notice of the exchange to employees by October 1, 2013.
- All medical insurance plans must offer the Essential Health Benefits.
- Eligibility waiting periods for coverage are limited to 90 days.
- Summary of Benefits and Coverage (SBC’s) must be provided to employees who are eligible for medical coverage.
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