Employers Have Until 2015 To Comply With Mandate

On July 2, the US Department of the Treasury announced that the employer mandate will be delayed until 2015. The mandate stated that large employers had to "pay or play" -- either offer employees the requisite health insurance plans, or pay a fine up to $2,000 per employee. 

According to Mark Mazur, Assistant Secretary for Tax Policy at the US Department of the Treasury, this decision was made in response to employers' concerns around complexity of the requirements and the need to implement changes effectively in an appropriate amount of time.

              

 What does this mean for your company?

• Employers with 50+ full-time employees may voluntarily implement these provisions in 2014
• Penalties for these large employers will not go into effect until 2015
• This summer, the Treasury will provide additional guidance on the proposed ruling

Need a refresher on the implications of the Affordable Care Act and the employer mandate? 

Check out Castlight's ACA summary.