Showing posts with label treasury. Show all posts
Showing posts with label treasury. Show all posts

Thursday, July 11, 2013

End the Confusion: Get Informed About Health Reform!

While the Obama Administration continues to defend the ACA, the GOP is working to capitalize on negative press surrounding the delays to implementation of certain provisions of healthcare reform.

Rep. (and Dr.) Jim McDermott of Washington, the top Democrat on the Ways and Means Health Subcommittee, argued that Obamacare is largely unaffected by the delay and that it's better to implement the overhaul correctly, than to do it quickly.  (Watch his impassioned argument HERE.)

The Treasury Department, who first broke the news about the delayed employer mandate, has also defended itself, stating that the delay was an exercise of the longstanding administrative authority of the Department to provide "flexibility" in laws.

Meanwhile, Senate Republicans "are asking the White House to 'permanently delay' the implementation of the new health-care law for everyone, after the administration announced last week that it would delay implementation of the business mandate until 2015."

These recent delays have further muddied the ability of the average American to understand which parts of the law will be in effect and when.  To help sort it out, please visit the Health Reform Implementation Timeline published by The Kaiser Family Foundation this week.  


"The implementation timeline is an interactive tool designed to explain how and when the provisions of the Affordable Care Act will be implemented over the next several years. You can show or hide all the changes occurring in a year by clicking on that year. Click on a provision to get more information about it. Customize the timeline by checking and unchecking specific topics." (KFF, Health Reform.)

Tuesday, July 2, 2013

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.