ACA Employer Mandate Delayed for Some Employers
The Treasury Department issued final regulations for implementing the employer shared responsibility provision of the Affordable Care Act (ACA), also known as the employer mandate.
The employer mandate was set to go into effect for all employers with 50 or more full-time employees on January 1, 2015. The final regulations provide employers more time to comply. The new rules are:
* For employers with between 50 and 99 full-time employees, the
employer mandate will apply starting on January 1, 2016.
* For employers with 100 or more full-time employees, the employer mandate will still apply starting on January 1, 2015. However, to avoid paying penalties, these employers only need to offer coverage to 70% of their full-time employees in 2015 and 95% in 2016 and beyond.
To learn more about the most recent updates to the employer mandate, review the Treasury Department’s press release.
To learn more about how Paycor can help you manage your ACA compliance strategy, visit our health care reform page.